By Laurene Caron at July 02 2020 13:52:09
Explain the fundamentals of the proposed business: What will your product be? Who will your customers be? Who are the owners? What do you think the future holds for your business and your industry?
It may not be pleasant to imagine all the "what ifs," but doing it now and planning for those unexpected events will improve your company's chances of surviving a storm. For an excellent step_by_step guide on the details of developing a risk management plan, see the article "How to Develop a Risk Management Plan," by Charles Tremper at wikiHow.com.