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> Business guy means taking risk, being persistant, able to sell and to network. That's it. Taking risk doesn't make you a good at business. In fact, quite th
by spiredigital 15y ago
> Business guy means taking risk, being persistant, able to sell and to network. That's it.
Taking risk doesn't make you a good at business. In fact, quite the opposite. Great businessmen are experts at limiting their risk and identifying and acting on high risk-to-reward opportunities.
One of the reasons so many businesses fail is the misguided notion that you "must" take a lot of risk to start a business. So people take out a lot of debt / make risky decisions because they believe it's just part of the whole process. I think the best way to start a business and excel is to limit your risk and bootstrap as much as possible.
However, I do agree with you on the other three... ;-)
- tferris 15y agoI agree with you about limiting risk. But I believe that 'risk' is a highly relative term. Spending three months on a new idea and investing lets say 3,000 USD on this idea is ... 1. for the average employed office drone a huge risk (at least that's how he feels about it=>different value system) 2. for a first time entrepreneur a risk (and objectively higher than for 1 because this guy doesn't have any incom) 3. for a experienced entrepreneur its daily business and no risk at all The principle is just don't go all in but keep on doing and risking.