Business and risks go hand-in-hand, and it is the entrepreneur’s job to anticipate these risks, manage the risks and minimize its impact on the company.
Here are quotes on business risks from successful entrepreneurs, business gurus and business authors:
A startup doesn’t know who they’re going to be two days from now, they don’t know what’s around the corner, they don’t know what the world is going to do that will be either beneficial or detrimental to their existence, but they have to be able to think on their feet, act fast and make changes without hesitation.
Many times they’re talking about risk as a bad thing. The way I think about risk is, I want to take some risks. The most dangerous thing is not taking a risk.
If your gut tells you that a deal is too risky or that your partners seem untrustworthy, pay attention, step back, and reflect. If you go ahead anyway, do so with extra protection, especially in terms of documentation.
Action means putting yourself out there, at the risk of rejection; but if you try your best, then there is no such thing as personal failure.
I think we do a disservice to people if we try to say that an entrepreneur changes everything. An entrepreneur reduces risk in many places in order to focus on what’s most important, which is the product.
The impression that an entrepreneur is a swashbuckling, risk-loving person is not true. What an entrepreneur truly should do is try to reduce risk by using established paths in some areas.
Your willingness to risk failure is the only real measure of your desire to be rich. Failure is a prerequisite for great success. If you want to succeed faster, double your rate of failure.
There is a direct relationship between the level of risk and the likelihood of loss in any enterprise. Successful entrepreneurs are those who analyze and minimize risk in the pursuit of profit.
There are only two kinds of entrepreneurs. One is full of doubt and the second one is a liar! Self-doubt is a sign of intelligence, it’s not a sign of stupidity or cowardice or inappropriateness. You’re cognizant that there are threats and things that might go wrong, as opposed to being delusional.
It is better to risk starving to death then surrender. If you give up on your dreams, what’s left?
He who is not courageous enough to take risks will accomplish nothing in life.
Only those who will risk going too far can possibly find out how far one can go.
Related Articles
Business risks refer to the possibility of a commercial business making inadequate profits (or even losses) due to uncertainties. Learn how to minimize and control your business risks by reading the following articles:
- Limit Your Risks
- What are the Risks Facing Your Business?
- 10 Risks of Starting an Online Business
- How to Reduce Your Risks When Starting a Business
- The Risks of Starting a Business
- 5 Tips to Reduce Risk When Starting a Small Business
- Risking to Win: How to Improve Performance by Taking Risks
- Know Possible Risks to Family and Marriage
Recommended Books on Business Risks:
- The Entrepreneur Equation: Evaluating the Realities, Risks, and Rewards of Having Your Own Business
- Grow Smart, Risk Less: A Low-Capital Path to Multiplying Your Business Through Franchising
- Risk Savvy: How to Make Good Decisions
- The Risk-Driven Business Model: Four Questions That Will Define Your Company
- Risk Is Right: Better to Lose Your Life Than to Waste It
