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Showing posts from July, 2009

Taking Smart Risks

In today’s recession it seems that the saying “nothing ventured, nothing gained” could be re-written as “nothing ventured, nothing lost.” But is that really true? In the long-run, is there a safe path to success? With a tough economy, risk-taking might seem even scarier than normal. But the truth is that there are also downsides of playing it safe. Our entrepreneurial spirit pushes us to explore risk, and seek out smart risk. Before taking any risks, the first step is to be introspective and consider your situation, your goals, where you’re heading. These days there are more opportunities than there is money to fund them. Set your priorities and gain as much insight as possible, to make informed decisions. Look at risk-taking as an exploration. Risks are necessary to make change happen. Look for ways to de-risk the opportunity. Your instincts are great, but why not get some information to provide you with perspective. Give serious thought to the opportunity in advance, including deve…