Why Calculated Risks Are A Must To Build A Successful Business

It’s easy to view building a business like gambling. Everything is a gamble; the difference between businesses that make it and businesses that fail often comes down to whether you took calculated risks or if you just jumped into the unknown. As Paul B. Brown points out in his article on Forbes “You need to know how much you are willing to lose before you even start thinking about starting something new.”

No one knows what they are getting into when they start a wedding business. You jump in with a general idea and then have to start planning the steps of action you need to take to make your business a success. When you come up with a idea don’t ever just jump in and start it before you’ve thought through both the benefits if the plan works, and the consequences if it doesn’t. Does your plan have an escape shoot just in case? If it goes badly will it ruin your business? Are you risking more money than you can afford if it doesn’t work? Thinking these things through before you start something new reduces the risk and should keep you from accidentally sinking your own ship allowing you to move on to something else that does work if your plan fails while at the same time enabling more of your plans to work.

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