⚖️Risks & Mitigations
Risks, Risk reduction & Mitigation Strategies
Here are the five general steps we use to mitigate risk. Implemented to lessen potential negative effects, threats and disasters to BC (Business Continuity)
Identify all possible events in which risk is presented
Perform a risk assessment
Prioritise risks
Track risks
Implement and monitor progress
Unfavourable Market Conditions Currently facing a hostile and disillusioned market with waning interest in NFTs. The Space Club sees this as an opportunity for our tools and innovations to restore confidence within the wider Web3 community. Working closely with our advisors and marketing team we have developed a business plan designed to ensure continued growth, sustainability and scale within the bear.
Competitors We have conducted extensive market research investigating a range of popular and niche applications with established userbases, ranging from Crypto and Trading resources (Offering on-chain data) to Educational digests and Multiplayer games. Upon conclusion we found that many apps lack versatility, unable to synchronise the plethora of components and the ever-changing demands that constitute the meta. What we are offering is a truly dynamic and nimble application, harbouring a vast range of use-values with our community firmly at its core - SpaceTools is designed to inform, educate and innovate its users wealth. Unable to Garner Mainstream Attention In the event that our application is unable to attract the desired number of external users and monthly subscribers from the broader Web3 Community, we may initiate a more aggressive marketing plan - Resulting in the reallocation of project reserves and community funds. In such a case, we will host a series of club votes & holders-board meetings to determine the most appropriate and effective course of action going forward, This will allow members to exercise their executive powers and internal governance within The Space Club.
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