Risk Taking and Small Business
How does a small business compete with a giant in their industry. Being quick on their feet is one way. But being willing to take risks is the real competitive edge that small businesses have.
As businesses grow, they grow more and more protective of what they have. And of course if they grow to the stage of being publicly traded, they have so many regulations its difficult to take risks.
Remember the scene in Indiana Jones and the Last Crusade where Harrison Ford stands on the edge of what appears to be a huge canyon, and steps off into thin air, only to find there's actually a walkway he couldn't really see?
That sort of leap of faith may be too much risk-taking. But whenever I get a new client who wants to have NO risk, who wants to be guaranteed NOTHING can go wrong, I think "why don't you just get what my mother would call 'a real job.'"
People who are very risk-adverse do succeed in business. But I've not seen any of them really SUCCEED!! They get by. Some make a decent enough living that they are very happy.
But risk taking is one way small businesses can compete. So if you're not a risk taker, know that about yourself. And know you are going to have to compete in other ways. Don't think you're going to really make a killing if you're not willing to take risks.
Not everyone has the temperment to accept risk. A little bit of soul searching is in order if you're thinking of starting a business. How excited are you to take a leap of faith?
