Risks to Address

From Banyan Project

The Banyan Project synthesizes many ideas and practices that have proven successful in other settings but because it proposes to assemble them in an entirely new way, a central task in creating an actionable business plan is to identify the most crucial risks and figure out how best to assess and then reduce them.

The core of any entrepreneurial venture is to find a successful path to taking an action that others consider too risky. What entrepreneurs do is design ways to assess the inherent risks in a way that allows them to make an informed judgment about whether to proceed and, if so, how.

Banyan's strategy of launching community sites allows testing of foundational premise that readers will value Banyan enough to become members of the co-op that will own Banyan and provide its primary revenue stream. It will also allow two of the other five revenue streams, advertising revenue and crowdfunding. Presuming that the testing returns positive results, the remaining revenue streams will be tested in subsequent stages.

Banyan will also reduce its risks by conducting needed research on the Banyan Public.