Risk is the most common topic that comes up in our conversations with entrepreneurs and so each week we ask entrepreneurs to talk to us on the record about how they think about risk.
Debbie Allen | Business Consultant, International Speaker & Best Selling Author
As an entrepreneur all of my life, I’ve taken on risk as simply part of doing business. What I’ve learned is to not blindly jump into risk, yet instead take more calculated or strategic risks that specifically fit into the goals, plans and direction of the business. Taking calculated or strategic risks is critical for business growth. All entrepreneurs need to get comfortable stepping outside of their comfort zone … or limitation zone as I call it. They must be able to remove limitations for expansion and new opportunities. Sometimes you just need to be open to new opportunities and be ready to move even when risk scares you a little bit. If you are not a little fearful and excited at the same time, the risk may not be worth taking. Every risk needs to be balanced wth reward. Every time I’ve taking a risk in business I weight the risk/reward ratio to make sure it’s worth stepping into. Read more>>
Amy Collins | Owner of Cup of Joey & Cultural Anthropologist
“Risk” is something that impacts every aspect of life. As an entrepreneur, it goes without saying that my assessment of risk would vary significantly from a banker or an insurer (for example). That does mean that I discount how others perceive risk but key for me is about interpreting others’ risk assessments and then molding them into mine. Our business risk was greatest when we started over 5 years ago as , statistically, most small businesses fail in the first few years of operations. Understanding risk might also unearth opportunities and so risk, at its very base level, makes you think about, plan and execute operations that mitigate them. Personally, I have been exposed to business risk since my late teens while still at school as my family exited the corporate world and commenced the first of many successful start-ups. Read more>>
Izzy Mahoubi | Singer Songwriter & Performer
Risk taking is the only reason I’m playing music today. I decided to play at an open-mic-night when I was eleven years old, and not long after, I wrote and produced my first original song. I had no clue what the future looked like, but I guess that is what excited me most! Read more>>