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The Inherent Risk Taking of Entrepreneurs

The Inherent Risk Taking of Entrepreneurs

3 thoughts on “The Inherent Risk Taking of Entrepreneurs”

  1. Toochi,

    I too see where you are coming from. In my field, we use tools to mitigate Risk Management throughout the project life cycle. When a risk is identified, then we come up with mitigation plans to combat those risks.

    I also think that if you do your research throughly and eliminate as much risk as you can, then it makes a smarter decision. I think this would work for not only entrepreneurs but anyone looking to start any kind of project.

    Great post!
    Brandon

  2. I love the fact that you have taken into consideration the research into what drives some of us to be risk-takers while others are much more likely to ‘play it safe’. It does seem to boil down to belief in one’s self. As mentioned in Schussler’s book: Henry Ford said, “If you think you can, or you think you can’t… either way, you are right.”

    What you are learning about risk management is not a bad thing, nor does it limit your ability to be a risk-taker. It just provides methodology to enhance your ability to succeed. As Brandon mentioned, smarter decisions come from such action. What sets the risk-taker apart from the naysayer is the ability to identify the possible problems as speed-bumps instead of stop signs.

    Entrepreneurs who take risks fail to loose momentum even when times look bleak. They persist through the risk, believing in themselves and their ability to cope, adjust, and continue towards their goal to bring their offerings public. Your willingness to persevere through this program and your dedication to your business plan demonstrates both your ability to take risk and attend to risk management. I think you should have no worries about being a risk-taker; instead, congratulate yourself on being a smart and prepared risk-taker who is able to move forward confidently knowing that your strategizing will help protect you as you move forward.

  3. Toochi,

    I can definitely understand what you are feeling after being in the Navy and dealing with risk management. I related your positive experience will result in a taking a more confident risk comment, to performing a box jump in fitness. If you have never done a box jump it is super frightening. All you can think about is not wanting to hit you shins on the box. Gaining the courage to take that risk can be overwhelming for some, but once you go all out and jump up on the box, it gives you the confidence to either do it again or try to jump on a higher box. I feel that although you have been trained to outweigh the risks and make a collective decision, once you are faced with taking a risk for your business and see the positive results, you will bounce back to being more of a risk taker. Risk management in my opinion is critical and a very useful tool but sometimes you have to live in the moment and trust yourself and the process.

    Great post and best of luck with your business idea,
    Danielle Glosson

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