①  Development Risk: Can the product or service actually be created?  >>>

②  Manufacturing Risk: If the product can be developed, can it actually be produced in appropriate volume?

③  Marketing Risk: If the product can be made, can it be → sold effectively?

④  Financial Risk: If the product can be sold effectively, will the resulting company be → profitable and can the profits actually be realized in a form that allows investors to receive cash?

⑤  Growth Risk: If the company can achieve operating profitability at one level, can profitability be maintain as the company evolves?  >>>