1. Section 2.12

2.  Industry Risk  Market Risk  Product Risk  Financial Risk  Management/Decision Risk  Career Risk  Emotional Risk

3.  Complex industry  Over-served industry  Failing industry  Difficult suppliers Example: Food industry (stable) Technology (changing)

4.  Competition  Ineffectiveness of marketing model  Slow market acceptance  Inflation Is there enough demand for the product you are offering at the price you have set?

5.  Difficulties in transforming idea into a market-ready product.  Flaws in the product  Laws/restrictions

6.  Loss of capital  Uncertain income  Inflation  Economic Downturn  Changes in interest rates  Higher costs  Bankruptcy

7.  Unemployment  Business Failure  Loss of benefits

8.  Marital strain  Family Problems  Stress and fear

9.  Identify your idea for a business.  Analyze your motives for wanting to start a new business.  Identify your personal characteristics/traits.  Evaluate the market for your product or service.  Determine your financial needs.  Prepare a business plan.  Assemble a team of experts to assist you.  Implement the business plan.  Never stop learning and asking questions.