The top three risks when you’re starting your own business

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1 – You can never go back

Well yes, you can go back to having a job, but you’ll never WANT to.  A mind once expanded can never return to its original size.  But it’s OK because if this business doesn’t work, the next one will.

2 – Employing people too soon (including friends!)

Do everything yourself until you know how to do it, then hire subcontractors to do stuff better than you, but on a flexible basis.  Then you’re not committed.

3 – Being dependent on one customer – or supplier. 

When you start you might have your old employer as your first customer, which is a great way to get off the ground.  But spread yourself as quickly as you can, never more than 20% on any one customer.

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