RISK REWARDS ENTREPRENEURS

Human behaviour is interesting. We seem to always be trying to fit in to what is happening around us as opposed to focusing on what we are really good at and giving that all of our energy without getting distracted. Why do we always seem to want to go with the herd? Being a risk taker almost seems to be bred out of us when we are kids, not that we aren’t encouraged to succeed, but we seem to be encouraged to succeed at the things that everyone does – the usual suspects – when perhaps we should rather be learning the skill of risk taking.

Being a risk taker is recognised as one of those characteristics that assists entrepreneurs on the road to success. When asked about their success, many entrepreneurs admit that several of the key decisions that they have had to make in their endeavors have been ones that required an element of risk and that these are the ones that have paid off the most. Entrepreneurs that are risk-takers seem to figure out early on that changes in their lives – especially the ones that seem like road blocks, often require risky reactions, but can deliver the best results.

Taking risks should, however, still be calculated – this is not gambling after all and there is obviously too much at stake to make any decisions rashly. Being a successful entrepreneur is about understanding your business and market well enough to be able to take the risk in a calculated way. You need to have some fundamentals ready before you jump, but not too many. It wouldn’t be a risk if you knew everything that was about to happen, would it? Here’s a couple of ways to be a successful risk taker.

  1. Understand That Failure is Going to Happen

It’s part of life. Everything we do has failure attached to it. All successful people have stories of massive failure attached to them. Thinking that your risk is going to be pain free and run as smooth as silk is just impractical.

  1. Trust your gut

If you’re taking a risk in anything, it’s assumed that there is some passion built up behind that risk. That passion, deep inside you, is your gut. Trust it, focus on it, listen to it.

  1. Remember to be Authentic

Taking a risk and then turning into something you’re not, is only going to lead to disaster. Whether you are risking a new relationship or new opportunity, you must be yourself throughout the entire process.

  1. Fully Understand What You’re Risking

Taking big risks can have massive impacts on everything in your life from relationships to money. Know what you’re risking before you risk. If you believe the risk will be worth it or you have the support you need from your family, then go ahead and make the leap.

  1. This is Your One Shot

The top thing people are saddened by on their deathbeds are regrets. They wish they did more or did what they were passionate about.

Don’t regret. Learn and experience. Live. Take the risks you believe in. Be yourself and make the world a better place.

If you can see the risk you think others are avoiding by going with the herd, swimming around, keeping a low profile, you probably should go ahead, take that risk and be successful at it!

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Where a party receives any personal information (“PI”) related to the other party, the party who receives the PI, will comply with and have adequate measures in place to ensure that its employees, agents, subsidiaries and representatives comply with the provisions and obligations contained in the Protection of Personal Information Act, No. 4 of 2013. Any PI pertaining to one party which is required by the other party, will only be used by that other party for the purposes of this contract and will not be further processed or disclosed without the written consent of the latter and the recipient of that PI will take all reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the PI. If and when the contract is terminated, each party will, save to the extent that it is required to do otherwise by any applicable law, erase or cause to be erased, all PI and all copies of any part of the PI relating to the other party”.