MASTER Risk Model - Learning Resources - Abilities

Financial Management

Review your last month’s spending as a student entrepreneur and identify one cost to cut this week.

Set a weekly reminder to check balances for your personal and venture-related accounts.

Create a simple spreadsheet to track three recurring costs and update it daily for one week.

Categorize five recent expenses as fixed or variable to better understand your student budget.

List your top three recurring costs and brainstorm one way to improve efficiency.

Review one past purchase or payment—check for errors or unnecessary spending.

When have you avoided financial planning for your idea, and what belief or fear contributed to that?

Reflect on a poor money decision as a student founder—what could you have done differently?

How confident are you in managing a startup budget? What step would boost that confidence now?

What financial risks have you taken for your idea, and how did they shape your outcomes?

Think about your program’s funding or grant cycle—do you feel connected or left out of the process?

Reflect on how your personal money habits affect how you manage venture finances today.

Spend 30 minutes reviewing your personal or venture budget, even if it feels uncomfortable.

Ask to attend the next finance session in your incubator—listen closely and take notes.

Track your spending for one week and summarize insights for a mentor or coach.

Choose one key metric tied to finances (e.g., burn rate, margin) and check its latest value.

Identify one vague expense in your budget—ask a peer or advisor for clarification today.

Set a micro-financial goal (e.g., save 5% on expenses) and measure progress after two weeks.

Ask a finance mentor to explain a startup term or metric you don’t fully understand.

Share a financial idea or savings approach with your group—ask for their feedback and suggestions.

Present a small section of your budget to peers—ask for their input or questions.

Request feedback from your mentor on how financially aware you appear as a student founder.

Ask a peer how they handle unexpected expenses—what practices keep them financially disciplined?

Share a financial resource you found valuable—discuss its relevance with a peer.

Instead of “I’m not good with money,” reframe it as “Financial skills are learnable for founders.”

View financial limits not as blockers but as creative boundaries that shape innovation.

See budgeting as a founder tool, not a burden—it gives me control and options.

Recast “cutting costs” as “redirecting resources to what drives real venture growth.”

Replace “finance is someone else’s job” with “financial fluency strengthens me as a founder.”

Instead of “financial reports are boring,” see them as maps of risks and opportunities.

Watch how professors or mentors explain financials—note the terms and priorities they stress.

Observe how often financial assumptions shape class projects or venture debates.

Study how student teams justify costs in pitches—what arguments convince listeners?

Track how often ROI or costs come up during student startup planning.

Listen for signs of confidence or confusion in peers during finance discussions.

Monitor how professors present financial updates—what tone or emphasis do they use?

Project Management

Make a list of all active projects—note deadlines, owners, and your next three actions.

Clarify one unclear responsibility in your project—ask a direct, simple question today.

Create a checklist for your next deliverable, breaking it into 3–5 small steps.

Block 30 minutes this week to update your project status in your tracker or planning tool.

Send a single-sentence project update to your professor or team—practice clear communication.

Choose one overdue task and push it forward by doing 15 minutes on it today.

Think about a time a project ran late—what was in your control, and how would you handle it now?

Reflect on how you prioritize tasks in projects—does your approach serve you or slow you down?

What stage of project work do you enjoy least—planning, execution, or follow-through? Why?

Recall a successful project—what habits or tools kept you on track and meeting deadlines?

When do you tend to drop the ball—during handoffs, deadlines, or communication? What’s the pattern?

Reflect on your tolerance for ambiguity—how do you respond when project scope shifts suddenly?

Define and document the scope, timeline, and milestones for a class or startup project.

Choose one project tool (Notion, Trello, Asana) and run a full week entirely on that system.

Ask your team to agree on roles and norms before kicking off a group project.

Identify one project risk and draft a quick plan B—what would you do if it happened?

Schedule a short project retrospective, even informal—capture what worked and what didn’t.

Take ownership of a small project—commit to weekly updates until completion.

Ask your team: “What would make our project planning and updates easier or more effective?”

Request feedback from a professor or mentor on your last project update—too detailed or too vague?

After a meeting, ask: “Was the next step clear to everyone? Did I explain it effectively?”

Invite someone with more startup experience to review your project plan—what would they improve?

Share your project tracker with a peer and ask: “Is anything unclear or missing?”

Ask a peer which tools or rituals they use to manage complex projects—compare practices.

Change “I’m not a planner” to “Good planning reduces stress and sets my venture up to win.”

Reframe “We’re behind” to “Now we see the gap—let’s prioritize and act with clarity.”

Instead of “It’s too early to plan,” think “Early clarity prevents chaos later.”

View process steps as progress signals, not bureaucracy—they help trust and structure.

Replace “I have too many projects” with “I need prioritization and visibility to manage better.”

See shifting timelines as natural to startups—adapt with flexibility and focus.

Watch how project leads present updates—what structure and clarity make it effective?

Observe when projects lack clear ownership—how does confusion or drift show up?

Track which meetings feel productive vs. scattered—what creates the difference?

Listen for shifting priorities—are they tracked clearly or just passed verbally?

Monitor how peers react to deadlines—who overcommits, who delays, and what’s the impact?

Notice when you switch between planning and doing—do you rush or skip steps?

Change Management

List one upcoming program change and write down its expected impact on your venture in one sentence.

Identify one habit in your daily routine that could help you adapt faster to shifting priorities.

Ask a peer how they’re feeling about a recent change in workload—just listen without fixing it.

Choose one small change you’ve been resisting and take the first 15-minute step to move forward.

Review your last experience with change and write down what helped you adapt successfully.

Check your team’s communications for one unclear or inconsistent message about a recent change.

How do you typically react to startup changes—fight, flight, freeze, or adapt? Why?

Reflect on a program change you embraced—what helped you accept it instead of resist it?

What emotions surface when changes happen—uncertainty, pressure, or opportunity? Explore why.

Recall a poorly managed change—what happened, and what would you do differently?

What changes have you initiated in your work recently—what made them succeed or fail?

Reflect on your role as a change agent—are you passive, reactive, or proactive, and how does it shape outcomes?

Volunteer to lead or support one aspect of a change initiative in your course or incubator.

Create a one-page “change briefing” to help peers understand the what, why, and how of a shift.

Identify one unclear program change—ask a mentor or professor for clarity and guidance.

Set up a peer check-in to surface emotional reactions to ongoing program or project changes.

Choose one habit to intentionally adjust this week—practice resilience in small steps.

Translate a broad program change into one clear action your team can prioritize.

Ask your peers: “What’s unclear or frustrating about this change? What would help us move forward?”

Share your view on a program change and ask: “How does this land with you? What’s your perspective?”

Invite a peer to describe how they adapted to a major change—and what they’d do differently.

Ask a professor for feedback on how you handled a recent change—what worked, and what didn’t?

Present a small change idea to your team—ask for candid input on risks or blind spots.

Ask a peer who resists change: “What would make this feel more manageable or fair for you?”

Shift from “change is risky” to “change is feedback to adapt, improve, and grow.”

Reframe “rules are imposed” to “Feedback helps me co-shape how change lands.”

Instead of “this change is inconvenient,” think “what opportunity or insight could it bring?”

Change “I have no control” to “I can influence how I respond and help my team adapt.”

View uncertainty not as confusion but as a founder’s playground for shaping outcomes.

See resistance as a signal of care—it often reflects values worth addressing.

Notice how mentors present change—do they frame it as risk, growth, or necessity?

Watch how peers adopt new tools or changes—what helps adoption stick?

Observe how your cohort reacts in the first 48 hours after feedback—what signals do they give?

Track who embraces vs. resists pivots—what clarity or support makes a difference?

Notice when peers disengage during change—what support or clarity might reengage them?

Pay attention to your own self-talk during pivots—what story are you telling yourself?

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