Submitted by ablickenstaff on

As a SIFP contestant you'll need to recognize and address your businesses critical strategic risks.  Attendees at a recent SIFP workshop developed this list of Top 10 Strategic Risks:

  1. Do you have the right patents?
  2. Are you sure you're not infringing someone else's patents?
  3. Do you fully understand your  marketplace and customers needs?
  4. Is your plan to broad and not focused in area where you have an advantage?
  5. Have you underestimated the competition?
  6. Have you overestimated your capacity?
  7. Have you made plans for adequate investing in marketing and getting the word out?
  8. How will politics, within your organization or your community, affect what your business can do?
  9. What current or coming regulations & policies will impact your business?
  10. What changes in the business environment have you prepared for?

SIFP workshops are a great place to learn how you can make sure you have all your risks covered.  Did you miss a workshop and want us to do it again... then COMMENT and let us know!

And, be sure to work on your application as you tackle these tough questions. Deadline in June 29!