sale. We will develop our mailing list from the New City Chamber of Commerce membership list, the mailing list of the county business magazine, membership lists of business womens clubs and the University Womans Club and from other appropriate sources. Our direct mail campaign will be supplemented by a modest media campaign targeted to sources that are popular with our potential clientele, such as the New City Monthly. We plan to have regular fashion shows that will address the interests of our clientele. We will also publish and distribute fact sheets for working women containing tips on such things as choosing clothes appropriate to their jobs, selecting clothing for business travel and caring for clothes.           8. Discuss the Risks Facing Your Business     Every business faces risks. The people whom you will ask for money will want to see that you can not only face reality but also deal with possible difficulties. The following discussion outlines risks small business owners typically face. Once youve analyzed these factors, youll be ready to write a summary of the risks that apply to your own business.     Competition. Most businesses have competition. How will your business differ in significant and positive ways from your competition? If your competition is strong, dont minimize that fact, but figure out ways you will adjust to or use that strength. For example, if you plan to open a restaurant next to an extremely popular one, part of your strategy might be to cater to the overflow. Another might be to open on days or evenings when the other restaurant is closed.     Pioneering. If you anticipate no direct competition, your business probably involves selling a new product or service, or one that is new to your area. How will you avoid going broke trying to develop a market?     Cycles and Trends. Many businesses have cycles of growth and decline often based on outside factors such as taste, trends or technology (discussed in. What is your forecast of the cycles and trends in your business? For example, if your forecast tells you that the new electronic product you plan to manufacture may decline in three years when the market is saturated, can you earn enough money in the meantime to make the venture worthwhile?     Slow Times. Every business experiences ups and downs. Is your business small and simple enough, or capitalized adequately enough, to ride out slow times? Or do you have some other strategy, such as staying open long hours in the busy season and closing during times of the year when business is dead?     Owners Expertise. Nobody knows everything. How do you plan to compensate for the knowledge youre short on? For example, if youve never kept a set of books, you may need to hire a part-time bookkeeper and an accountant to make sure the bookkeeping system is adequate. Or you may need to buy a computer and an accounting program and devote some time to mastering your new tools.     Example: Doreen Cook wanted to establish her own restaurant. She had cooked for other restaurant owners for years and knew the practical side of putting good food on the table. However, she had little patience with financial matters and was honest enough to admit she didnt want to learn how to keep books. To solve this problem, she invited George, her CPA, to be her junior partner, with full responsibility for financial management. She and George emphasized this connection in her business plan and loan package, which George designed. In addition, George was invaluable in lining up a list of potential lenders.