Chapter 31. Quality of The Backup Plan
Daring ideas are like chessmen moved forward; they may be beaten, but they may start a winning game. | ||
| --Johann Wolfgang von Goethe | ||
Definition
Once you’re launched, the investor’s money is committed to the venture. It is at full risk. Or is it? Could there be a hedge that would allow a less-grandiose scheme, lower in risk and yet capable of appreciable gain? This is the backup plan you use if your primary path becomes blocked.
Relevance—Why Add This Element?
Quality of the Backup Plan is a confidence builder for the entrepreneur and for the investors. Typically, when people think about an investment, they dwell on the upside. How high can this go? However, after a devastating surprise, what could be left of the ...
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