How can you start a business without taking risk?

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Apr 29, 2024

• #1

To be honest with you , starting a business without taking any risk is something that is very challenging and but there are lots of strategies that could be adopted . For instance, you could start verysmall by testing your business idea on a small scale because it will allow you study the business properly before committing more resources.

 

Reedex

Well Known

Member

Jan 8, 2023

6,801

103

Dex

$0.002

Raw Dex

$0.001

• Apr 29, 2024

• #2

It's worth mentioning that carrying out research in your market is very essential and you should try to identify low-cost entry points because it can mitigate some of the risks that are associated with starting a business.

 

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Apr 29, 2024

• Thread starter
• #3

Based on what I've seen, I would advise you to leverage on the existing platforms like online marketplaces or freelancing websites because this can be a low-risk way to start a business.

 

Reedex

Well Known

Member

Jan 8, 2023

6,801

103

Dex

$0.002

Raw Dex

$0.001

• Apr 29, 2024

• #4

There are so many some businesses that could be started with minimal financial investment and they include as dropshipping or affiliate marketing. This will limit the risk .

 

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Apr 29, 2024

• Thread starter
• #5

To put it simply, one of the major ways to start a business with minimal risk is by offering services that is based on your skills and expertise.

 

Reedex

Well Known

Member

Jan 8, 2023

6,801

103

Dex

$0.002

Raw Dex

$0.001

• Apr 29, 2024

• #6

You should try out networking and building partnerships because this can also help mitigate the risks that is associated with starting a business.

 

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Apr 29, 2024

• Thread starter
• #7

It's important to remember that risk is inherent in all types of businesses and it's part of entrepreneurship, but you should look for ways to manage them.

 

Reedex

Well Known

Member

Jan 8, 2023

6,801

103

Dex

$0.002

Raw Dex

$0.001

• Apr 29, 2024

• #8

As someone who has been there, I've always found that starting a small business is worth considering and you can gradually scale up gradually .

 

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Apr 29, 2024

• Thread starter
• #9

Seeking advice from the experienced entrepreneurs can be very beneficial and mentors can help provide invaluable support.

 

Reedex

Well Known

Member

Jan 8, 2023

6,801

103

Dex

$0.002

Raw Dex

$0.001

• Apr 29, 2024

• #10

I have not seen such thing as a risk-free business venture, but we should carefully try to plan and execute your strategy to minimize the risk .

 

bestwriter

Notable

Member

Nov 18, 2022

2,118

86

Dex

$2.855

Raw Dex

$0.003

• Apr 30, 2024

• #11

There are external factors in any business over which we have no control. I was all set to sell my jack fruits and the guy said he will arrange to harvest them himself. He calls up to say the two fruits he took are spoilt. Tell me who can control that?

 

Shavkat

Very Familiar

Member

Sep 7, 2022

13,631

947

Dex

$0.515

Raw Dex

$0.003

• Apr 30, 2024

• #12

Taking risks is part of having a business. I doubt it if there is nothing to take the risk of doing so.

 

nomad

Very Familiar

Member

Jun 22, 2022

10,951

512

Dex

$0.010

Raw Dex

$0.500

• Apr 30, 2024

• #13

If you start low, if you already have enough experience in the line of business and if you have knowledge and risks, you can easily minimize the risk associated with running a business

 

S

Stardom22

Very Familiar

Member

Sep 1, 2022

13,247

565

Dex

$4.300

Raw Dex

$0.517

• Aug 22, 2024

• #14

There is no business that can be started ever before any risks could have been taken