Entrepreneur's Psychological Troubles: Problems That Nobody Talks About by Saraf Sanskar

Author:Saraf, Sanskar [Saraf, Sanskar]
Language: eng
Format: epub
Published: 2020-06-30T16:00:00+00:00

CHAPTER 7

TAKING RISKS

Every risk is worth taking, as long as it’s for a good cause, and contributes to a good life

~Richard Branson

CHAPTER 7

TAKING RISKS

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Introduction:

Risk runs in veins of most of the entrepreneurs. They risk all they have when they decide to start their business. Despite all glamour associated with entrepreneurship world, risk-taking is almost a synonym of entrepreneurship.

The dynamic environment puts a lot of pressure on entrepreneurs to improve their skills and battle risks at the same time. Every business irrespective of its size faces risks.

Risks start with the organisation and end with it. No organisation is free from risk. However, if you want to excel, you should not be afraid of risks and be prepared for them.

In this chapter, we will talk about the importance of taking risks and discuss some common risks that entrepreneurs face and figure out an effective way to deal with them.

Value Of Risk-Taking:

There is a big difference between taking risks and making foolish choices, and you need to differentiate between the two to be a successful entrepreneur.

Risk is just another word for the game of life, and life would get boring without risk.

I have often seen people being overly cautious and taking each step with tons of debates in the head. It might be a good process, but through this way, in the time you will take one step, the world would have taken four.

In order to achieve anything positive in life, we need to take calculated risks. Taking risks help you to stand out and prove yourself to be a leader and not a follower. It enables you to prove yourself and others that you are not going to run in the rat race instead are going to build your own empire.

As Nelson Mandela said: “I never lose, either I win or I learn.” Taking risks never go unsuccessful, either you get what you want, or you rise stronger to battle again. Some of the greatest lessons you will learn in your journey as an entrepreneur will be through playing the dice.

But apart from this risk-taking is a necessary step; no one will spoon feed you success; you have to take risks and win it. You don’t achieve your dreams by playing it safe. Taking risks will also help you get over your fears.

Gamble That Paid Of:

There was a young man who completed his studies from Princeton, a dream collage of many. Upon his graduation, he secured a high paying job in the Wall Street as a senior vice president of a hedge fund.

However his hunger to grow called him towards entrepreneurship, and he risked his stable, secure life to start his own company which started from his garage as a book store, and today the company sell almost everything, with a net worth of over 160Billion dollars the company called amazon made its young risk-taker Jeff Bezos the wealthiest person in the world.

During an interview, Bezos said, “For me, I had to project myself forward to age eighty. I don’t want to be eighty years old cataloguing a bunch of major regrets of my life.

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