This Is Your Problem Too!

I've spoken elsewhere about the folly of risk aversion and the desire to be risk free.  As I pointed out, profit comes from entrepreneurs taking calculated risks.  But of course the customer also needs to take calculated risks in order to generate their profit too.

“It is the customer's perception of these risks that is important.  No
  matter if some of them aren't actually real!”

There are seven types of risk for the customer:

• Will it work?
• What will I lose financially if it fails?
• How much time will I lose if it fails?
• I absolutely have to make a choice now, so will it be the right choice?
• What if it doesn't do what I thought it would do?
• What will the 'neighbours' think?
• Will it harm me?

As with value, it is the customer's perception of these seven risks that is important.  No matter if some of them aren't actually real; in the mind of the customer if they are creating anxiety then they are real enough that you need to help the customer achieve an acceptable balance between overall risk and overall reward.

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