Take calculated risks from "summary" of Built, Not Born by Tom Golisano
Taking calculated risks is a fundamental principle in entrepreneurship. It involves making decisions that may involve uncertainty and potential setbacks, but with a careful analysis of the potential outcomes. It's about weighing the pros and cons, considering the possible rewards, and determining the level of risk that is acceptable. In the world of business, risk-taking is unavoidable. Every decision an entrepreneur makes carries some level of risk, whether it's investing in a new venture, expanding into a new market, or launching a new product. However, the key is to not be reckless or impulsive in taking risks. Instead, it's about being strategic and thoughtful in assessing the risks and benefits. Taking calculated risks requires a combination of intuition, experience, and analysis. It's about trusting your instincts, drawing from your past experiences, and using data and information to make informed decisions. It's not about taking blind leaps of faith, but rather about making educated guesses and being willing to adapt and pivot based on the outcomes. Successful entrepreneurs understand that risk-taking is essential for growth and innovation. Without taking risks, businesses can become stagnant and miss out on opportunities for advancement. By embracing calculated risks, entrepreneurs can push boundaries, challenge the status quo, and drive change within their organizations.- Taking calculated risks is about being bold, confident, and willing to step outside of your comfort zone. It's about being open to failure, learning from your mistakes, and being resilient in the face of challenges. While there are no guarantees in entrepreneurship, taking calculated risks can lead to greater rewards and success in the long run.
