Anyone running, opening or selling a business take heed. Risk is a business element that is often side stepped.
Initially, a simple check list can reveal areas that need closer scrutiny. Although a simplistic approach, this process makes it tangible and better able to be addressed.
Items to consider:
1. How long can your business operate with little or no income?
2. What resources are in place for business resumption after a disaster?
3. Where do you back up your company data?
4. What is your line of succession if something happens to a company principal?
5. What is your R & D budget and what role does it play in your projections?
These simple questions will get the topic opened and begin a conversation with your advisory board, partner or whomever can offer you information to avoid disaster. Good luck. The attached link is food for thought.