Sunday, July 27, 2008

Risk of Doing or Risk of Not Doing!

Fear of what?
What distinguishes an entrepreneurial leader from the rest of the pack? Most people would tell you it is a tolerance for risk, and most people would be wrong. Having studied 22 years of performance data on more than 7,000 growth companies, I discovered that the idea that entrepreneurs are, by definition, risk takers is a myth.
Myth of the Fearless Entrepreneur

We tend to hide behind what we are comfortable with. And comfort comes with years to routine, societal input, peer pressure and lack of drive. Nothing wrong with this scenario - expect we fail to admit the reality.

The excuses we make to stay in our current state are mostly manufactured to convince no one else but us. It is too risky, I don't have the money, I don't have the time, I need a partner, the market is choppy and on and on we go. Convincing others of our limitations so we can feel better about our own decisions.

The bottom line is - what is the worst-case scenario? If you take six months off to try something out - will you never be able to recover? If you lose $ in a business venture - will you never be able recoup your loss? If you quit your job for a year - will you not be able to find commensurate employment?

In my mind - the worst case is thinking, pondering and stressing about what you really want to do and never having the courage to give it a shot.

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Jonas Florendo said...

Great article. I'm a fledgling entrepreneur, and I've decided that I want to try to run a business. I want to buy a business instead of starting one from scratch. I know it'll be touch, but I'm ready to be a leader and for the challenge. I've been searching online for a while, but I haven't found anything. Do you have any suggestions? Thanks!

Jane Neas said...

@Jonas - Yeah, it's going to be tough at first. Just keep working at it.

In terms of looking for a place, I suggest checking out It's an online global marketplace where you can buy, sell, and invest in a small business. It has a wide selection of businesses, which makes it a good place to find a small business on the Internet. Check it out and good luck!

Mark Runta said...

Jonas - You might want to explore franchising options. There are a lot of online resources for franchising - good luck!

Jonas Florendo said...

Thanks for the suggestions, guys. I really appreciate it. I checked out, and I really liked what I saw. I already found one that I like. Thanks again!