14 {{ upvoteCount | shortNum }}
14 {{ upvoteCount | shortNum }}

Is Complete Absence of Risk a Realistic Goal in IM?

by x3xsolxdierx3x
12 replies
I had a discussion with a friend regarding various different business models in IM. It seemed like, no matter what we spoke about, there was ALWAYS some level of risk involved. Whether in investing, or other aspects of my life, I've pretty much just come to expect risk....but, I do try my best to make decisions that best limit that risk, and, then, subsequently, I try to manage the risk that is remaining.

Without sharing it (you can, if you would like), is anything you do in IM completely, 100%, free of some sort of risk? It would seem to me that risk is inherent to just about anything. ....and, what strategies have you applied to your own online endeavors to limit or manage risk?
#absence #complete #goal #realistic #risk
  • Profile picture of the author travlinguy
    I think the key word in your question is "risk" and how you define it. If you mean risk of liability, I think there are models that can almost completely eliminate that. You might start by incorporating all your companies and then place them into trusts and even foundations. That would make you about as bulletproof as you could possibly be.

    If risk was defined by how much stress someone has just running a business I think that would vary from individual to individual. There was a thread yesterday about refunds and how common they are in the mmo niche of IM. Dealing with that crap isn't necessarily risky but it can be stressful. Stress puts people at risk for health, relationship, and other problems.

    Someone once said, "without friction there is no life." I think it might have been me who said it but the notion has been out there since the Stone Age. I see risk as another one of the friction factors.
    {{ DiscussionBoard.errors[4407226].message }}
  • Profile picture of the author RichardF
    The way I see it there's always risk: either of losing money, or losing time. I think that's true in all business, not just IM. You can of course keep the risk at a minimum though by scaling slowly and not putting too much time/money into something before you see good results. As always higher risk = higher reward though.
    Signature


    Need a writer who really understands the Internet marketing niche?
    Sales copy, autoresponders, articles, e-books, blog posts & more!
    Visit my WF thread -or- my website

    {{ DiscussionBoard.errors[4407359].message }}
    • Profile picture of the author Frank Donovan
      It would be a mistake, IMO, to have an absence of risk as a goal. There can be no growth without risk.

      Although I'd argue that employment carries a greater element of risk, especially these days, it's probably fair to say that people who are risk-averse don't tend to start their own businesses. And for many entrepreneurs, the risk is all part of the fun.

      Of course, that's not to say that recklessness is to be encouraged - it's always worth performing due diligence and striving to minimise any unnecessary risks. But if you're not at least a little bit excited by the thrill of the unknown, well... the world will always need accountants.


      Frank
      Signature


      {{ DiscussionBoard.errors[4407471].message }}
  • Profile picture of the author Willie Crawford
    I believe that true entrepreneurs get paid more BECAUSE
    we are willing to take more, and bigger risks. The average
    person is too risk averse to ever really consider starting
    their own business.

    My biggest risk reduction tool is sharing the risk with
    partners, counting on their knowledge, skills and resources
    to fill in for my shortcomings.

    I also do a LOT of research, so that I make the best
    decisions practical, but I do make a lot of decisions in
    without all of the facts. Waiting until you have ALL of the
    facts often means that you miss the boat.

    Life IS risky

    Willie
    Signature

    Here's A Ready-Made High Ticket Product To Make Your Own.
    Click To Go BIG!

    {{ DiscussionBoard.errors[4407524].message }}
  • Profile picture of the author aduttonater
    There are programs with less risk but they pay WAY less. For instance Google Adsense has no risk. Then again, your being paid cents.

    I am not against making cents, but have found alternative, better ways of getting paid.

    I've juggled with the ups and downs of taking risk. I have came short sometimes, and is considered experience. Never will I make the same mistakes twice. I have also came out as the beneficiary most of the time, when putting my foot out there, to take that RISK.
    Signature
    http://newinnovativeenterprises.weebly.com
    {{ DiscussionBoard.errors[4407589].message }}
    • Profile picture of the author Willie Crawford
      Originally Posted by aduttonater View Post

      There are programs with less risk but they pay WAY less. For instance Google Adsense has no risk. .....
      I disagree. The risk with AdSense is that you put a lot
      of time and energy into a site optimized for AdSense
      and Google throws you out of the program for violating
      one of their TOS inadvertently.

      You also risk missing out on other revenue that you could
      be making but that the Google ads are diverting attention
      from.

      Willie
      Signature

      Here's A Ready-Made High Ticket Product To Make Your Own.
      Click To Go BIG!

      {{ DiscussionBoard.errors[4407814].message }}
      • Profile picture of the author x3xsolxdierx3x
        Assuming that SOME degree of risk is expected in just about any aspect of IM, which business models, in IM, do you all feel present the LEAST amount of risk?
        Signature
        {{ DiscussionBoard.errors[4408087].message }}
        • Profile picture of the author travlinguy
          Originally Posted by x3xsolxdierx3x View Post

          Assuming that SOME degree of risk is expected in just about any aspect of IM, which business models, in IM, do you all feel present the LEAST amount of risk?
          I'm not so sure which models present the least risk. But these days, regardless of how straight you play, the MMO sector of IM is probably carries the most risk. That's because everyone in that sector tends to get lumped in with the black hatters and other outlaws.

          As for the least risk in IM, education, maybe. At least the type the regulators feel is legitimate. There are plenty of low risk markets. Pets and pet care. Hobbies. Consulting. Health Related Stuff, though alternative health stuff seems to get a lot of attention from the FDA and the FTC.
          {{ DiscussionBoard.errors[4408854].message }}
  • Profile picture of the author NateRivers
    I think it's a law or principle of economics that the level of risk in anything is directly proportional to possible reward/consequence. So something with absolutely no risk wouldn't be worth doing.
    Signature
    {{ DiscussionBoard.errors[4408120].message }}
  • Profile picture of the author Joe Benjamin
    In my experience, the only time something becomes
    *risk-free* is AFTER I've taken action and measured
    the results of those actions.

    At THAT point, if it's profitable, it's *risk-less*.

    That's not to say that what I'm doing is completely
    without risk, but it's reduced drastically if I get the
    results I'm looking for from taking said risk.

    The only time I feel like I'm taking a risk is when I'm
    doing something I haven't done before.

    Once it's familiar to me, it's no longer risky. It's
    second nature.

    So yes, I DO believe absence of risk is a realistic go
    -al, but I wouldn't count on it lasting *forever*.

    The BIGGEST risk is avoiding taking action BECAUSE
    you're looking for a guarantee that doesn't exist.
    Signature
    **How I FLIPPED $80 into $690 Pure Profit With ONE EASY Method...2 to 3x Per Week...Only 30 Minutes Per Day (and how YOU can COPY my RESULTS, too!) **CLICK HERE FOR VERIFIED VIDEO PROOF**
    {{ DiscussionBoard.errors[4408156].message }}
  • Profile picture of the author Truxx
    Originally Posted by x3xsolxdierx3x View Post


    Without sharing it (you can, if you would like), is anything you do in IM completely, 100%, free of some sort of risk?
    The only thing that is 100% certain is that there will be risk with whatever you do. There is ALWAYS risk with everything. It's just a matter of finding the right balance between risk and reward. Finding what level of risk YOU are comfortable with.

    Here's the irony... when you realize your risk it will be because you failed at something. But the best way to learn is to learn from your own failure. Find out what doesn't work for you so you can succeed.
    {{ DiscussionBoard.errors[4408509].message }}
  • Profile picture of the author JamesGw
    There's risk in everything you do. You can try to minimize it, but avoiding it altogether is kind of silly.
    Signature
    Brazilian Jiu-Jitsu Techniques | Precision SEO
    {{ DiscussionBoard.errors[4408646].message }}

Trending Topics