Entrepreneurship: Risk and Growth
Launching any new business venture takes an element of risk. Even if you were to buy a franchise with a “proven” business model there is no certainty it will work in your context. The location will be different, the number of competitors may be different there are plenty of factors that could come into play that you didn’t consider.
Entrepreneurs are those that take a calculated risk and launch something new and innovative. I’m not talking about mindless danger junkies, but daring risk takers with a vision.
Be Courageous
It’s all about calculated risks, about having the courage to back yourself and your ideas, regardless of how stretching they may seem. Persist despite the criticism and even opposition of those around you.
Risks come with the promise of opportunity. So, taking those opportunities implies that you take with them an element of risk. It’s unavoidable. The road to success is paved with obstacles.
Taking Risks with Web Design
Take a daring web design idea for example. The look and feel of your website is crucial for how you’re perceived online by your customers. Introducing a bold new redesign or message means taking a risk – what if your customers won’t like it? While you could try to test the design with focus groups and the like however, you cannot really know with certainty until it goes live.
It’s the same thing with marketing on the Web. You need to be bold and inventive to grab attention. And you can be neither without taking risks. In marketing the safe paths, as in almost anything related to business, are generally the ones leading to the most meager rewards.
Whether it’s web design, marketing, branding, or any other crucial aspect of your business, you need to take calculated risks, not impulsive ones.
Grow as an entrepreneur by taking risks. Allowing yourself enough room to make mistakes, explore and experiment, reflect on the risks you’ve taken and those you’re going to take. Don’t try to avoid risks, but try to calculate them, so that you increase your chances of success.
