8 Risk Management Tactics Your Startup Should Have in Place

What is one risk management tactic you implemented during the early stages of your business to protect you and the company?

The following answers are provided by the Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

1. Voice the Red Flags
2. Hire a Tax Advisor
3. Mind the Cash Flow
4. Have Good Contracts
5. Create an LLC
6. Get Lean
7. Insist on Down Payments

These strategies could be simple yet important. Do you have any thoughts? Post it in the comment box below or send us a message.

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