In today’s podcast, I will be addressing the term we hear so often in business, “taking risks”  when you hear the word taking risks, what comes to mind? Are you taking uniformed risks in your business? For me, it means that I am putting myself or my business in jeopardy of experiencing loss. taking risks does not mean I just jump into something blindly, there is research involved for me to make a well-informed decision.

I remember listening to someone who was giving some sound advice when it came to taking a business risk, they had invested a lot of money for a project that him and his partner were working on and as they were trying to scale their business to the next level they entered into a business relationship with someone who said they could help them to grow.

Long story short, they lost their shirt and had to rebuild, they didn’t research if this person had all they said they could deliver and it cost them big time.

Would you put your family in jeopardy by just jumping into something blindly, because the world relates to you that when you don’t take risks you remain stagnant?

Well, that’s what happens when you cross your fingers and hope for the best. How many businesses have suffered from taking so-called risks that didn’t pan out, that’s like playing the lottery you don’t know if the outcome will be in your favor.

I believe a better word would be to make well-informed decisions, which allows one to weigh the options to what they believe can bring them to a better ROI.

[ctt template=”5″ link=”0Xdal” via=”yes” ]Risk is knowing there is a snow storm coming and not putting snow tires on the car, to save money. [/ctt]


Are You Taking Risks In Your Business

by Michele Riley

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