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Reap the rewards of risk-taking

Starting a business is the biggest risk of all. But as it continues to grow, it's important to take calculated risks to stay ahead of competitors. Whatever your goal is, create three separate plans towards achieving that goal, and then be prepared for at least two of those plans to fail. Things happen!

So, set aside an allocated budget to take some chances on new initiatives and make peace with the fact that you might lose that investment but others may win big. If you plan correctly, that loss should not be detrimental. The important thing is that you're taking chances and learning what it takes to run a business. Success today is achieved as a result of calculated risk, careful planning early on and due diligence to stay on track.
... See MoreSee Less

Reap the rewards of risk-taking

Starting a business is the biggest risk of all. But as it continues to grow, its important to take calculated risks to stay ahead of competitors. Whatever your goal is, create three separate plans towards achieving that goal, and then be prepared for at least two of those plans to fail. Things happen!

So, set aside an allocated budget to take some chances on new initiatives and make peace with the fact that you might lose that investment but others may win big. If you plan correctly, that loss should not be detrimental. The important thing is that youre taking chances and learning what it takes to run a business. Success today is achieved as a result of calculated risk, careful planning early on and due diligence to stay on track.
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