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Creative Mornings – Risk Series


Creative Mornings is held on the last Friday of each month internationally – whereby each chapter around the globe is given the same topic to discuss. April’s topic was ‘Risk’ and one of our Designer/Developers Melissa went along to the Melbourne chapter to explore the subject.

Rick Chen, founder of the successful crowdfunding platform Pozible, was the guest speaker and he shared some great advice on how to minimise risk and maximise success, specifically relating to startup companies.

He talked about how opportunity and risk come in the same package – you can’t have one without the other, so it is important to have a strategy to deal with risk when you cannot minimise it. To do this, you need four key things: passion, product, expertise and timing. This means, in order to minimise risk and maximise success, you need to be passionate about what you are doing, you need to have knowledge of your product and know what your customers want/need, you need to be an expert in what you are doing and learn from others to get there and finally, you need to time your release right.

An example of timing that Rick gave was that he and his business partner worked until four AM most days for a year to get their product launched before their competition. They credit their timing for much of their success, as it meant they were the first of their kind to launch in Australia and their competition consequently gave up!

Find out more about Creative Mornings on their website.



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