Business idea · Agency
Risk Management Consultancy
Risk Management Consultancy is a consulting service that helps businesses identify and manage risks associated with entrepreneurship, focusing on strategies to balance risk with reward. It was pitched on My First Million in the episode "How to find your arbitrage (from the guy who’s done it 3x) ft. Nick Kokonas" (aired October 26, 2026).
At a glance
| Podcast | My First Million |
|---|---|
| Hosted by | Sam Parr and Shaan Puri |
| Episode | How to find your arbitrage (from the guy who’s done it 3x) ft. Nick Kokonas |
| Aired | October 26, 2026 |
| Category | Agency |
| Real companies on the episode | Talk, A Restaurant (Unnamed), Uber, Nobu, Strange House, Alinea |
The problem it solves
Many entrepreneurs face difficulties in assessing and managing risks effectively, which can lead to failure. This service provides structured risk assessment and management strategies.
How it makes money
Fee-for-service model where businesses pay for specific consulting sessions or ongoing advisory services.
Skills you need
Expertise in risk management, business strategy, and consulting.
The market, and why this works now
SEC Regulation Crowdfunding allows startups to raise capital from non-accredited investors, creating a viable market for risk management consultancy services targeting early-stage businesses. The initial revenue could come from advertising consulting sessions on the Indie Hackers community, where entrepreneurs seek advice on navigating risks. A significant constraint will be the challenge of acquiring clients without established trust, as many startups may hesitate to invest in consulting services without prior testimonials or case studies.
Our analysis, written after the episode. Not a quote from the show.
Real companies discussed on this episode
- Talk
Talk was a company that aimed to improve the restaurant reservation process by understanding customer preferences and offering dynamic pricing for table reservations.
- A Restaurant (Unnamed)
A high-profile restaurant started by the speaker, which gained recognition as one of the best in America.
- Uber
Uber is a ride-hailing platform that connects passengers with drivers through a mobile app, utilizing dynamic pricing models to manage supply and demand.
- Nobu
Nobu is a high-end restaurant chain known for its Japanese-Peruvian fusion cuisine.
- Strange House
A unique immersive experience that combines elements of magic and narrative arc, aiming to create human connections through awe and wonder.
- Alinea
Alinea is a fine dining restaurant in Chicago known for its innovative cuisine and unique dining experiences.
Where this idea came from
Podcast: My First Million, hosted by Sam Parr and Shaan Puri
Episode: How to find your arbitrage (from the guy who’s done it 3x) ft. Nick Kokonas
Aired:
Summarized from the episode transcript. The show does not say which speaker raised each idea, so we credit the show, not a person.