Management Risk – Does team have right blend of sales, business, and product expertise? Can they recruit the talent to fill gaps as company grows?

Market Risk – Is there demand from consumer or business side?

Sales and Execution Risk – Can management scale operation from nascent idea to large business?

Product/Technology Risk – Can technologists develop a true product or will it be an agency or consulting shop?

Financial Risk – Will company run out of cash before it gets to profitability or gets acquired?