2- Risk of Lack of Planning – Exodo Spirits has the potential to fail if we lack of short-term and long-term planning. Our plan should include where our business will be in the next few months to the next few years. Meaning, we need to be aware of our suppliers’ capabilities and products challenges within the market. Not meeting the demand of the market, sales goals within dates and deadlines. Failure to plan will damage the performance of Exodo Spirits.
3- Risk of No Differentiation – As young company Exodo Spirits is aware of the concept of: It is not enough to have a great product. We also have to develop a unique value proposition, without getting lost among the competition. What sets our business apart from the competition? What makes our business unique? It is important that we understand what our competitors do better than you. If fail to differentiate, we will fail to build a successful brand.
5- Risk of Inability to Learn from Our Own Failures – Exodo management we all know failure is usually bad, yet it is rare that businesses learn from failure.Realistically, businesses that fail, fail for multiple reasons. Often entrepreneurs like myself are oblivious about our mistakes. Learning from failures is difficult but a necessary to learn how to avoid in the future.
8- Risk of Premature Scaling – Exodo Spirits is clearly aware that scaling is a good thing if it is done at the right time. If we scale up our business prematurely, we will destroy it. Examples: hiring too many people too fast, or spend too much on marketing.
9- Risk of Lack of Profit – As a CEO for Exodo Spirits Co., I understand clearly Revenue is not the same as profit. As an entrepreneur, I must keep our eyes on profitability at all times. Profit allows for growth. According to Small Business Trends, only 40% of small businesses are profitable, 30% break even, and 30% are losing money.
13- Risk of Poor Use of Business Funds - It is possible that Xodo spends capital in ways that don't maximize benefit to the future success of the business.
Juan Carlos Hector has been working on Exodo Spirits International since 2011, but officially incorporated the business in 2012.
Juan Carlos Hector has sole authority to amend the bylaws.
Juan Carlos Hector has personally financed the entire business.