Are You Ready to Take Business Risks?

[Nomad]

According to Entrepreneur, about 20 percent of the business fail within the first year, and the 40 percent of those that survive fail within 3 years, and in 5 years 50 percent business will fail. Therefore, before you are ready to launch your business you need to do risk assessment. You need to ask a few question to analyze your risk tolerance levels:

• Can you handle financial losses?
• Are you prepared to reinvest if things don’t go as planned?
• Will you shut down at the first sign of loss, or push through challenges?

You can become successful with your business only when you can take calculated risks.

 

[koyala]

I’m ready to take business risks because growth comes from stepping outside my comfort zone. I assess challenges, weigh potential rewards, and make informed decisions. Calculated risks drive success, innovation, and opportunities, helping me stay ahead in a competitive market.