How to Minimize Risk When Starting a Business: Advice from a Franchise Expert

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Издатель Jul 13, 2025

Thinking about starting your own business but worried about the risks? You're not alone—and you're smart to be cautious. In this video, Richard Bock, a seasoned franchise consultant and former Volvo executive, shares the most important steps to reduce risk when entering business ownership. With over 25 years of experience in franchising and entrepreneurship,

Richard explains:

- Why control—not just money—is the top reason people choose business ownership
- The 3 most common paths to owning a business (and the pros and cons of each)
- Key reasons businesses fail—and how to avoid them
- How to build a team and a business plan that sets you up for long-term success
- The role of SBA, SCORE, and SBDC in helping you get started
- Why proper capitalization is non-negotiable
- Funding options beyond just SBA loans (including a little-known 401(k) strategy)
- What kind of businesses thrive even in tough economies

Whether you're exploring a franchise, a startup, or buying an existing business, this practical session is packed with the advice you need to minimize risk and make smarter decisions.