Any risk in starting up a business without proper training?

[Abisola]

Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan

 

[Atiqurrehman]

Entrepreneurs face a number of risks, such as bankruptcy, financial risk, competitive risks, environmental hazards, known risks, and political and economic risks. Entrepreneurs need to plan their budget wisely and investors need to show that they are considering the risks by creating a realistic business plan.

 

[Chizfab]

That is a timed bomb waiting to explode anytime. But how can someone who says he is farmer, yet doesn't know how to handle a hoe, let alone know the best soil to plant different crops or how to plough, apply fertilizer and the rest. Except you own the business but do not run the business, apart from that, you are heading toward the wide road of failure. In life, you must have the knowledge and skills.

 

[Sana Diyar]

I think it's a big time risk, especially when you don't know much about the business you want to venture into. There are some businesses that seems so easy when looking at, they look exactly like what we can handle without under going proper training. What do you have to say about it? Is it wise enough to invest into a business you don't know much about?

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[Setho]

If you want to start a business I think you should make proper preparation and seek relevant knowledge first before trying to make any commitment. You should learn how to research about markets, you should have strong entrepreneur mindset and the ability to capitalize.

 

[Ihtsham Raza]

You can minimize risk, but it's not possible to eliminate it. Starting Up is a Big Financial Risk. Financial risk, of course, is the big one. Most

 

[Asma]

risk are a part of any business an lots of risk faced in starting up a business if you have no planning to may definitaly face many issue many risk because without planning you don't know how to manage any thing.

 

[Yewande]

That's why apprenticeship and mentorship are very important. You shouldn't start a business simply you have capital or you see others starting businesses. Not everyone is naturally endowed with business knowledge.

I can't agree less with you. Most time people who learn business from apprenticeship tends to do more better in running business than people who even study business in the University.

 

[Anas Chaudhary]

Entrepreneurs face a number of risks, such as bankruptcy, financial risk, competitive risks, environmental hazards, known risks, and political and economic risks. Entrepreneurs need to plan their budget wisely and investors need to show that they are considering the risks by creating a realistic business plan.

 

[Sanusi]

It is not wise to venture into the business you don't know much about so its a big risk, there are some business where by you know the basics but the main things that entails the business so its like you know nothing about, so to me its a big risk.

 

[Oliver 20]

Business people face different risk I'm Bussiness without proper training, monetary risks, serious risk, natural risk, reputational hazards, and political and financial risks. Business visionaries should design shrewdly regarding planning and show financial backers that they are thinking about dangers by making a reasonable strategy.

Post automatically merged: Feb 10, 2021

Business people face different risk I'm Bussiness without proper training, monetary risks, serious risk, natural risk, reputational hazards, and political and financial risks. Business visionaries should design shrewdly regarding planning and show financial backers that they are thinking about dangers by making a reasonable strategy.

 

[marky]

rely upon what well the preparation would mean for your business. On the off chance that the preparation is required for the business to push ahead, at that point you definitely should complete it first. On the off chance that it's not very huge you can begin the business and attempt to do the preparation later. It's in every case best that you are pretty much as set up as conceivable prior to wandering.

 

[nasiusman95]

"Entrepreneurs don't need to have a degree. I have friends that didn't go to university that are running very successful businesses. ... Hard business skills can be taught, but it's harder to teach soft skills. A good way to learn about running a business is to work for a start-up - you see, first hand, the highs and lows

 

[solomonmali]

The ups and downs of the economy and new market trends pose a risk to new businesses, and a certain product might be popular one year but not the next. For example, if the economy slumps, people are less inclined to buy luxury products or nonessentials.

 

[Blackjay]

I'd see it as risking the business cause training in a field or business is like an assurance its like you know what to do and when to do them in such cases the business wont go sideways.

 

[adazeez1995]

Of course, there are alot of of risks. Since money (capital) is involved. In order not to lose your capital, it is important for you to be properly trained about the pros and cons of the business you intend to go into, if not you would get your fingers burnt.

 

[Veetos12]

I think it's a big time risk, especially when you don't know much about the business you want to venture into. There are some businesses that seems so easy when looking at, they look exactly like what we can handle without under going proper training. What do you have to say about it? Is it wise enough to invest into a business you don't know much about?

That is going to be an unwise of a someone who intends to start a business to venture into it without proper knowledge or training on the business. So it is very important to have foreknowledge of any business investment before diving into it.

 

[Sariana23]

Personally, I would not make an investment without knowledge. Since it is risky and the results can be, the total waste of money. I believe that we must have administrative knowledge, to be able to control unnecessary expenses, income, invest and at the same time save for possible commercial solutions. The demand for the product or service must also be known.

 

[Felixko]

It is really very important to take necessary training as required before one can start a business , if not training may be he or she should be experienced or have the knowledge about the kind of business he or she wants to do . there is a high risk if a person is not trained or even experience in business it brings lost or slow tuning of the business. It can also bring about Tue corlapse of the business .

 

[Arrain1122]

There is a big risk, and the risk is, you will end up losing in your business or get the whole business crash, I am talking base on experience, do not go into business if you have just semi knowledge about the business, when challenged comes you will not be able to takle it.

Economic Risk. The economy is constantly changing as the markets fluctuate. ...
Compliance Risk. ...
Security and Fraud Risk. ...
Financial Risk. ...
Reputation Risk. ...
Operational Risk. ...
Competition (or Comfort) Risk.