Mark Bregman’s Post

In the dynamic world of startups and small to medium-sized businesses (SMBs), growth is not just a goal; it's a necessity. However, as these agile entities navigate the path of expansion, they encounter a myriad of compliance obligations that can either fuel their momentum or halt their progress. The key to maintaining this momentum lies in establishing a scalable compliance model—one that grows with your business and adapts to new challenges with minimal friction. Here’s how startups and SMBs can build a compliance framework that not only meets today's requirements but is also future-proof and demonstrates a risk management mindset critical for attracting investors. 🔗 https://lnkd.in/ek-uABQE #startups #riskmanagement #compliance #SMBs #scale

💡 Did you know that 60% of startups fail due to internal issues that could have been prevented with better internal controls? 📉 According to CB Insights, this alarming statistic underscores the importance of establishing strong internal control systems. For startup founders and directors of newly established companies, the debate often revolves around viewing internal control systems as a long-term investment versus a short-term cost. Let's break it down: Long-Term Investment: + Risk Management: Effective internal controls can significantly reduce the risk of fraud and errors, safeguarding your company’s assets and reputation. + Sustainable Growth: A robust internal control system lays the foundation for scalable and sustainable growth, ensuring processes are efficient and compliant. + Investor Confidence: Strong internal controls can boost investor confidence, making your startup more attractive for future funding rounds. According to Harvard Business Review, well-implemented controls are a key factor in gaining investor trust. Short-Term Cost: + Initial Expense: Implementing internal controls requires an upfront investment in resources, technology, and training. + Time-Consuming: Establishing these systems can be time-consuming, diverting focus from immediate business operations. + Perceived Bureaucracy: Some may view internal controls as adding layers of bureaucracy, potentially slowing down decision-making processes. However, viewing internal controls purely as a cost overlooks the immense value they bring in the long run.

🚀 Navigating Startup Challenges in 2024? We've Got You Covered! ⚠️ Discover essential risk management strategies in our latest blog: "Risk Management in Startups: Preparing for Potential Challenges in 2024" 🛡️📈 ➡️ https://lnkd.in/gZbKXhiD Tackle the uncertainties of the startup world with confidence! Our guide dives into key risks facing startups and provides actionable insights for mitigating them. From financial planning to strategic decision-making, learn how to safeguard your venture against potential challenges. 💼🎯 Stay ahead in 2024 with smart risk management tactics for your startup's sustainability and growth. 🌐💡 #StartupRisks #RiskManagement #2024Challenges #BusinessStrategy #StartupGrowth #FinancialPlanning #Entrepreneurship #BusinessResilience #MarketAnalysis #StartUpLife 👍 Like, 💬 Comment, and 🔁 Share to help fellow entrepreneurs navigate the dynamic business landscape!

Balancing #riskmanagement with #innovation and growth is a common challenge in startups. We asked 8 business leaders to share their strategies.

Balancing risk with innovation and growth is a common challenge for startups. From developing a risk management plan to innovating safely with a two-track strategy, eight business leaders share their best strategies for managing these competing priorities. https://lnkd.in/grQQ-_rZ #balancing #risk #innovation #growth #strategies #challenges #startups #riskmanagement #plan

https://lnkd.in/e9gSyBCb Balancing risk with innovation and growth is a common challenge for startups. From developing a risk management plan to innovating safely with a two-track strategy, eight business leaders share their best strategies for managing these competing priorities.

Internal Audit plays a vital role in assisting Start-ups. It help mitigate risks, improve operational efficiency, ensure regulatory compliance, enhance performance, and build trust among #investors and #stakeholders . To read more about benefits of internal audit for Start-Ups, click on the link https://lnkd.in/d-3Cw5rG #internalaudit #startup #startupbusiness #mitigate #dpncupdate #riskadvisory #regulatorycompliance #risk #

𝗠𝗮𝘀𝘁𝗲𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝗨𝗻𝗽𝗿𝗲𝗱𝗶𝗰𝘁𝗮𝗯𝗹𝗲: 𝗪𝗵𝘆 𝗮 𝗥𝗼𝗯𝘂𝘀𝘁 𝗥𝗶𝘀𝗸 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝗶𝘀 𝗬𝗼𝘂𝗿 𝗦𝘁𝗮𝗿𝘁𝘂𝗽'𝘀 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗦𝘂𝗽𝗲𝗿𝗽𝗼𝘄𝗲𝗿 In the bustling world of startups, the thrill of launching a new venture is often matched by the unpredictability of the journey ahead. Founders are typically consumed by the drive to bring innovative products to market and achieve rapid growth. However, this intense focus can make it easy to overlook the underlying risks that simmer beneath the surface, ready to erupt and potentially derail even the most promising ventures. This is why establishing a robust risk management framework should be an imperative. But let's shift the lens slightly. Consider it not just a bureaucratic necessity but a strategic asset that fosters resilience and adaptability. It's about crafting a dynamic blueprint that evolves with your startup, one that identifies and assesses potential risks and integrates them into the very fabric of your strategic planning and decision-making processes. Consider the unpredictable elements such as market volatility, technological disruptions, or regulatory changes. A well-articulated risk framework helps you anticipate these challenges, enabling your startup to pivot swiftly and effectively, turning potential threats into opportunities for innovation and differentiation. By embedding risk management into your startup's DNA, you are preparing to manage potential downsides and positioning your company to seize unforeseen opportunities. Moreover, this framework should not be static. As your startup grows, the framework must adapt, capturing new risks and shedding outdated concerns. It becomes a living part of your organization, a testament to your commitment to sustainable growth and long-term success. While a startup's initial stages are often fueled by passion and innovation, its maturation is significantly enhanced by the sophistication of its risk management. This balance between innovation and caution ultimately defines the most resilient and successful ventures. Thus, a risk framework is not merely a shield against potential threats but a strategic tool that enhances your startup's ability to navigate the complex business landscape, ensuring that the vision you are working so hard to realize is protected and potentiated.

In recent times, the saddening news of startups “total or partial winding down heightened fear in the heart of some business owners, aspiring entrepreneurs, and investors. The most shocking part of it are the reasons why they had to shut down operations. At some point, I wondered how the investors of those troubled startups made their choices to invest. The least I will expect is the presence and strict adherence to fundamental rules that guide business existence and activities. These rules form part of what is branded as Corporate Governance. I took special interest in these stories because I know how fundamental rules in time past regulated my relationship with partners. That is a discussion for someday. I will not need to freshly pen it but pull up what has already been documented and shared with same actors so that history will not be wrongly rewritten. As humans, we are liable to easily forget and give unrelated fresh perspectives to issues especially when it is not well documented. However small, or large your organization is, there can always be a corporate governance that will be the best fit and can be adopted. Issues like management team quick gratification that can erode investors funds, can easily be regulated with corporate governance. Issues like unaccountability of management team can easily be managed by corporate governance. Business operations, sustainability, partnership, CSR, accountability, financial management, risk control, regulation of arbitrary or excessive use of management team power and control, board relationship, etc. can all be managed with good corporate governance being in place. As cancerous growth in the body silently kills without it being noticed until after some time, likewise, running your organization without a corporate governance. The death (closure of the organization) that eventually came to full term by shutting down operations has been silently killing but it was probably not noticed or ignored all the while. I will keep it this simple and short for now, but please, make a lawyer with business/corporate experience a friend and start the discussion. You can also find other business executives with corporate governance experience and start a conversation. I Wish you the best.

Navigating Risk in the Startup Universe: A Wealth Manager's Perspective In the world of entrepreneurship, startups are like shooting stars - they shine brightly but carry inherent risks. For investors venturing into this dynamic space, risk management is the guiding star. Understanding Risk in Startups: Market Risk: Startups often operate in emerging or niche markets. Understanding market dynamics and consumer behavior is crucial to mitigate market risk. Execution Risk: Turning a brilliant idea into a successful business is no easy feat. Execution risk is about ensuring the startup can deliver on its promises. Financial Risk: Startups may face capital constraints. Managing financial risk involves scrutinizing the financial health and sustainability of the venture. Operational Risk: The daily challenges of running a startup can be formidable. Operational risk management involves ensuring the business can function effectively. The Wealth Manager's Role: As a Wealth Manager, my role extends beyond investment advice. I'm here to help you navigate these complexities. Here's how: Due Diligence: Thoroughly researching the startup and its industry to assess the risks and rewards. Diversification: Spreading investments across different startups to reduce the impact of potential failures. Risk Tolerance: Tailoring your startup investments to match your risk tolerance and financial goals. Exit Strategies: Planning for various exit scenarios, ensuring you can manage risks effectively. Investing in startups can be an exciting adventure, but it's essential to proceed with a solid risk management strategy. By partnering with a Wealth Manager, you're not just investing; you're investing wisely. Let's navigate the startup universe together, managing risks and seeking opportunities for financial success.