Starting up a business is really a gamble. One should not do it if he’s not ready to risk anything. You’re taking a chance with your money and your time.
Well, if you are not doing anything at the moment, time isn’t really a big deal. But let’s say you are working at an office or in fact, you have a very promising career. It would be so hard to give it up just like that. You are not sure that you will earn more or if your business will succeed. But you will be foregoing a hefty salary for your business. So you ask yourself. Would your business be worth giving up your high paying job?
Money is another important matter. Not everyone has massive amount of savings. Most budding entrepreneurs in fact have to borrow funds first in order to raise enough capital for their business. You could be putting your life time savings on the business. This is quite a risk since it is all you have financially. Are you willing to take a leap of faith?
You don’t have to go blindly with your decision. Although much of doing business also has got to do with luck, much of it can also be examined and studied. You should do all the analysis there is and decide better. Or, perhaps we could call your decision an intelligent guess. It’s not really a guess. But since we have recognized the element of chance here, let’s just call it that too.
But like in any line of business, the bigger the risk the greater is your return. If you want to achieve a greater success you must be ready to risk more. Do you assignment to lessen taking chances. But acknowledge that much of it still depends on how your target market reacts, on your business itself and even on some externals factors out there.
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