A Quote by Jason Fried
Entrepreneurs love to view risk as binary. The more you put on the line, the greater the potential for reward.
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The greater the potential for reward in the value portfolio, the less risk there is.
Basically if you study entrepreneurs, there is a misnomer: People think that entrepreneurs take risk, and they get rewarded because they take risk. In reality entrepreneurs do everything they can to minimize risk. They are not interested in taking risk. They want free lunches and they go after free lunches.
One of my guiding principles is don't do anything that other people are doing. Always do something a little different if you can. The concept is that if you do it a little differently there is a greater potential for reward than if you the same thing that other people are doing. I think that this kind of goal for one's work, having obviously the maximum risk, would have the maximum reward no matter what the field may be.
For me, the risks in terms of opening that brewpub were fairly high. I put my house up as collateral, I invested the liquid money I had and two years of my time to get it over, but that's really not much of a risk for what the potential reward was if it worked.
To me it is harder to play a real person, but when you do it and you feel good about it and the person feels good about it, I think that's doubly rewarding. So the challenge is greater, the risk is greater, but the reward is greater as well.
Unlike most of life, what you do really matters. Your actions have real consequences. You have to pay attention and focus, and that's very satisfying. It forces you to pay great attention and you lose yourself in the task at hand. Without the risk, that wouldn't happen, so the risk is an essential part of climbing, and that's hard for some people to grasp. You can't justify the risk when things go wrong and people die. The greater the risk, the greater the reward in most aspects of life, and in climbing that's certainly true, too. It's very physical, you use your mind and your body.
The reality is that I need to be challenged and interested, as long as the risk and reward is in line.
The payouts for starting a business are just terrible when you account for risk. A tiny minority of entrepreneurs ever get rich. And the majority of entrepreneurs would probably make far more money, and have more stable personal relationships, if they just worked for someone else.
Entrepreneurs are risk takers, willing to roll the dice with their money or reputations on the line in support of an idea or enterprise.
The risk of an investment is described by both the probability and the potential amount of loss. The risk of an investment-the probability of an adverse outcome-is partly inherent in its very nature. A dollar spent on biotechnology research is a riskier investment than a dollar used to purchase utility equipment. The former has both a greater probability of loss and a greater percentage of the investment at stake.
You need to put the fear of risk aside. Startups need leaders who are willing to persevere through the hard times. Failure is an option, and a real risk. Failure and risk are something entrepreneurs should understand well, and learn to manage. Don’t have a fear of talking about your failures. Don’t hide your mistakes.
The fleet being thus more inclosed will more readily observe the signals, and with greater facility form itself into the line of battle a circumstance which should be kept in view in every order of sailing.
True entrepreneurs have to really forego almost everything; they have to put it all on the line.
Entrepreneurs are risk takers, willing to roll the dice with their money or reputation on the line in support of an idea or enterprise. They willingly assume responsibility for the success or failure of a venture and are answerable for all its facets.
The potential of greater good goes right along with the potential for greater evil.
When we liberate the economic potential of women, we elevate the economic performance of communities, nations, and the world... There is a stimulative and ripple effect that kicks in when women have greater access to jobs and the economic lives of our countries: Greater political stability. Fewer military conflicts. More food. More educational opportunity for children... By harnessing the economic potential of all women, we boost opportunity for all people.
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