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Managing risk in start-up firm

September 17, 2006 /

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The MDT Disadvantaged Business Enterprise (DBE) Program encourages and supports the participation of companies owned and controlled by socially and economically disadvantaged individuals in transportation contracts.

It is a commonly held belief that entrepreneurs are good at taking risk — that as a group they live life on the edge and are willing to risk everything to win in the marketplace.

But research shows that those who start businesses are not always willing to take big risks. What they are good at is exhibiting a tolerance for ambiguity — dealing with the unknown (Bhide, "The Origin and Evolution of New Businesses").

How, then, is risk "managed" in the early stage business? In the book, "New Business Ventures and the Entrepreneur," the authors suggest that entrepreneurs should take conscious and deliberate actions in seven areas in order to control their risks:

By Gary D. Williams
Brigham Young University

Full Story: http://deseretnews.com/dn/view/0,1249,645201777,00.html

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Bozeman is a rapidly growing city with a high quality of life in part due to the easy access to the outdoors, burgeoning tech industry, and cultural experiences it offers.

As the hub of learning, creativity and innovation in Northwest Montana, Flathead Valley Community College is expanding

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