Thanks for your reply but after thinking about it, I have found the solution as follows:
Private Sub Form_Load()
If IsNull(w_text1) Or w_text1 = "" Then
w_text1 = "Significant amount of revenue at risk 1)<50k, 2)up to .5mil, 3)up to 3mil, 4)up to 5 mil, 5)>5 mil"
Else...