Risk Management is 1 of the most important thing for any entrepreneur,
Risk Management has lot of layers and methods but i would like to focus on apps development only because this subject is very wide.
Risk management can make the difference between success and failure and everything I talk here I tried by myself so I speak from years of experience..
I have seen how small apps become a great success and amazing apps fail.
The user doesn't care how much time you've spent. The truth? No one cares.
And that's exactly where risk management comes into ...
The Big Numbers Law proves itself and hitting a target requires a lot of arrows (apps), So the idea is to know which apps to develop, the main conditions:
1) Fast development = We have a lot of arrows in this case and we can afford a project to fail because cost is very low
2) Low competition and high traffic (Good ASO) - this is not easy to find keywords and get 500K organic traffic in 6 months but it's totally possible with enough shots - remember the big numbers rule ?!
You cannot judge the abilities of someone based on a single experience and if you decide to run long term - you should know how to manage risks properly.
If you are in the application world and it is important for you to know how to manage risk correctly and smartly I invite you to contact me.
Pictured below is showing you real great example about risk management, a simple app with great results and development time of 1 day.