IS ENTREPRENEURSHIP RISKY?
Dear
friend, do you see entrepreneurship as risky?
Is
the pursuit of dreams, passions and life risky? I don’t
think so. I think standing still, procrastinating and not using your mind is
what is risky: you might say that is my opinion. But, why do people see
entrepreneurship as risky?
Entrepreneurship
has been labeled as one of the riskiest of all professions out there due to the
number of start-ups that fail every year and the number of entrepreneurs
who lose parts or everything that they invested into the ideas that failed. Entrepreneurs
are seen as risk-takers who will to put it all on the line with hopes of rewards
someday.
However,
another perspective of entrepreneurs is that they are actually risk-averse,
who by mitigating risk, increase their probability of success with their new
ventures. This can be said because most successful entrepreneurs succeeded
because they took calculated risk and because of their risk-aversion, not their
risk-taking.
Entrepreneurship,
for many, is not just about receiving a big pay out one day when their start-up
goes public: it is about following a passion, about doing what
they want, and ultimately leading a life that leaves them satisfied. Is
following one’s passions a risky pursuit? No. Theodore Roosevelt once said "Far
better is it to dare mighty things, to win glorious triumphs even though
checkered by failure than to rank with those poor spirits who neither enjoy nor
suffer much because they live in the gray twilight that knows neither victory
nor defeat.” Action.
Perhaps
it is our innate sense of risk-aversion, procrastination and fear of
failure that prevent many from pursuing entrepreneurial ventures. Entrepreneurship
doesn't need to be risky: you don't need to sink millions into a non-viable
idea. Entrepreneurship truly is aligning your passions with being able
to fulfil a need in a market and doing it in a way that mitigates your
business risk. Always test your idea before investing money into it.
The
seasons of life offers us all opportunities to pursue our passions
and dreams. Dare as much as you can in the afternoon season so
that you can reflect your story with relief about taking bold steps
later on. Or, you will shake your head in regret due to procrastination
and refusal to use your mind. Make your choice. I believe it is
riskier to reflect later in life with regret for not trying.
Also read: Take Action and Practice, Use your mind, Never Give Up, Start Small, Overcome Setbacks and Business Drive
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