Remove five
article thumbnail

Recognize your five critical business risks.

Berkonomics

Of course, there are external risks that cannot be controlled or predicted but can be planned for as well – natural disasters, sudden political or economic events that rattle the entire economy, and more. Here are five basic kinds of internal risks that a business faces over time. Fourth is competitive risk.

article thumbnail

Can you defend your pricing niche against your competition?

Berkonomics

There can be nothing more important in your business planning that selecting the proper pricing niche, making your story clear using that niche, and the defending your position against the competition. The five major niches. Where do you this you can excel within these five positioning alternatives? They are: Price.

Pricing 226
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Can you overcome five risks and create wealth?

Berkonomics

Of course, we are speaking of increased valuation of your company when we speak of “wealth.” Especially if you are in the early stage of growing a business, these five risks can and often do derail entrepreneurs before realizing the riches of a great exit. And fifth: Competitive risk. . So, let’s examine them and mitigate them.

article thumbnail

The five kinds of risk in building your business

Berkonomics

There are five basic kinds of internal risks than a business faces over time. Of course, there are external risks that cannot be controlled or predicted, but can be planned for as well –. Fourth is competitive risk , which consists of two separate risks.

article thumbnail

Should you battle the dragon? Or just avoid the encounter?

Berkonomics

So, when do we know which course to take? And if that new strategy is proved to be true, the five-hundred-pound gorilla in that niche just moved out of the way of many of its smaller competitors, leaving a market that will surely see a scramble for new competition in the near future. At least that is the conventional wisdom.

Resource 156
article thumbnail

How good a leader are you?

Berkonomics

For larger or later stage companies, it could be to increase market share through acquisitions with the attendant elimination of competition or increase in a company’s reach. I prefer a financial goal, such as “achieve $20 million in revenue within five years.” Have you stated a goal for others to follow?

Resource 156
article thumbnail

7 Advantages For Being A Socially Responsible Startup

Startup Professionals Musings

To legally facilitate startups who want to give top priority to socially conscious solutions, thirty-five states, starting with Maryland way back in 2010, have passed legislation allowing incorporation as a Benefit Corporation (B-Corp). Of course, investors still require a profitable business model, and the potential for high returns.

Startup 149