Entrepreneurs traditionally take risks to maximize on the return on their investments.
Unnecessary, unforeseen and miscalculated risks however, can rapidly halt the progress of the
venture and result in serious financial loss. Timing is everything. The Entrepreneur
Challenge App provides a pocket guide for project-managing the evolution of a successful
venture and progressively identifying exposures and risks that can adversely impact the future
success of the business. By completing the surveys for each of the key sectors of the business,
entrepreneurs can risk profile key operations and gauge their level of entrepreneurial
maturity. This metric is called the Entrepreneur Maturity Factor (EMF) and computes an
estimate for successfully achieving the business objectives for each of the main operations
within the enterprise. The Main Menu of the App consolidates the operations screens and
provides an overall estimate for the whole venture. The higher the EMF is, the better.
The Entrepreneur Challenge App further provides an informative list of consequences
triggered by negative responses to each of the survey questions. By initiating risk mitigation
strategies to address the consequences highlighted in the App, entrepreneurs and business
owners can periodically re-assess how action plans, once implemented, can improve risk
profiles and increase the EMF of the business. An improvement in the overall Enterprise Risk
Profile and increased EMF will provide greater assurance to the business owner that business
operations are more efficient and resilient with a stronger emphasis on operational and
financial control. Through continuous improvement, a greater opportunity presents itself for
achieving business objectives in line with the five-year strategic plan. A more detailed analysis
by an expert or consultant may be necessary to provide specific, qualified, and independent
advice supplemented by a program of activity to fully achieve the objectives for realizing
benefits as set out in the business plan.