Startups are risky. As a founder, you decide the level of risk you’re willing to take.
Startup founders with domain expertise (functional or industry expertise) and the skills to create quality solutions (solution expertise) can capitalize on business opportunities much faster than entrepreneurs with only the ability to execute on a solution. They’re also much less likely to create solutions without market demand…
An early assessment of business opportunity risk can be made using the three-scale model introduced in Lean B2B:
Although ticking all the boxes doesn’t guarantee success, understanding the ingredients of a successful B2B startup can help significantly reduce the risk of starting up.
More on the Risk Scale & Risk Management
- Risk Identification: How Much Risk Are You Really Taking on With Your Startup?
- How to Use The Customer Discovery Process to Reduce Your Startup’s Risk
- How the Best Companies Reduce Risk to Win in B2B
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