IS ENTREPRENEURSHIP RISKY?

Dear friend, do you see entrepreneurship as risky?

Is the pursuit of dreams, passions and life risky? I don’t think so. I think standing still, procrastinating and not using your mind is what is risky: you might say that is my opinion. But, why do people see entrepreneurship as risky?

Entrepreneurship has been labeled as one of the riskiest of all professions out there due to the number of start-ups that fail every year and the number of entrepreneurs who lose parts or everything that they invested into the ideas that failed. Entrepreneurs are seen as risk-takers who will to put it all on the line with hopes of rewards someday.

However, another perspective of entrepreneurs is that they are actually risk-averse, who by mitigating risk, increase their probability of success with their new ventures. This can be said because most successful entrepreneurs succeeded because they took calculated risk and because of their risk-aversion, not their risk-taking.

Entrepreneurship, for many, is not just about receiving a big pay out one day when their start-up goes public: it is about following a passion, about doing what they want, and ultimately leading a life that leaves them satisfied. Is following one’s passions a risky pursuit? No. Theodore Roosevelt once said "Far better is it to dare mighty things, to win glorious triumphs even though checkered by failure than to rank with those poor spirits who neither enjoy nor suffer much because they live in the gray twilight that knows neither victory nor defeat.” Action.

Perhaps it is our innate sense of risk-aversion, procrastination and fear of failure that prevent many from pursuing entrepreneurial ventures. Entrepreneurship doesn't need to be risky: you don't need to sink millions into a non-viable idea. Entrepreneurship truly is aligning your passions with being able to fulfil a need in a market and doing it in a way that mitigates your business risk. Always test your idea before investing money into it.

The seasons of life offers us all opportunities to pursue our passions and dreams. Dare as much as you can in the afternoon season so that you can reflect your story with relief about taking bold steps later on. Or, you will shake your head in regret due to procrastination and refusal to use your mind. Make your choice. I believe it is riskier to reflect later in life with regret for not trying.



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