Are you really taking risks?

That's what angel investment, venture capital and state funded programs are for. The difference is that they require serious market research, marketing and business plans based on theoretical frameworks. I've been down this road myself, besides luck and timing success requires hard proof of determination and motivation - this usually means the ability to survive and develop a pre-funding MVP on little to no outside money.

My personal reply would be to take the risk. It's not actually as big a risk as first thought.

Once you do you research then you get a good feel for the idea and if it's a go. I took a big risk many years back going self employed as the youngest in my field, huge mortgage, very few contacts and it changed my life. I am now looking at a project which so far out of my funding range it's unreal but the skillset and ability to deliver isn't so I am going for it both guns blazing.

If I bomb out then I know I will hit it hard and start again until back on top. Risk management is good, risk aversion is very, very bad

Great information there.
Taking risk is a broad aspect and its relative to different people.
Thanks for the info.!

The last risk I took was crossing the road, but I looked both sides

Take Risk man

You cannot avoid risks.
Most of the things we do in our every day life are risky, better to do what you feel would bring reward whether its risky free or full of risk.

This may be a little long of a video and it may be from 2008, but it's extremely relevant.

The more dangerous is, the more money you get...

Every time you cross a road is a risk. I always think about the worst possible outcome and whether I could handle it - if the answer is yes (which it almost always is), then I take the risk.

I find it much harder to think about the things I have done in life, than the things I have. 'What if' is the most torturous thought....

IMO, taking risks for the sake of taking risks is an idiot move. Going down and throwing all my money into a long shot trifecta on the ponies is taking a risk, but not smart. If you win... obviously it will appear smart. Some guys have done real well with genius ideas and dynamic personalities, but for every Steve Jobs there are thousands of people that fail. And failure is not bad, but that is a different discussion.

The REAL skill in risk taking, IMO, is managing risk. Knowing what you want and taking calculated risks that maximize potential reward and minimize the risk. Personally, I am not going for the solo home run, but I am working to get my bases loaded. To know when I should NOT put my time and money into something is just as much of a skill as knowing where to put my time and money. Even then.... there will still be losers.

I know there are many here who are probably loaded beyond belief and have done really well taking huge risks with everything they have, but that just isn't me. I take risks on my terms and while I am far from a rich man, I am in my little corner... doing what I do... without a whole lot of worry and stoking my fair share of coals in the fire.

Thanks for the discussion.

You have to take risks. In IM especially because you don't know what works. But calculated risk.

Prior to investment . you have to do market analysis and demand for the product you will be promoting ..

I handed in my resignation letter from holding a manager position at a large electronics retail chain almost a decade ago, in order to pursue my online ventures full time.

Did I take a risk? Yes!

Regrets? Nope!

Risks are a part of life, even having a contracted full time job is a risk - the security that previouly was there is gone -"sensible" non-risk takers are made redundant every day. Calculated risks are part of everyday life.

In my most recent venture I've spent quite a bit of an outlay of money to get it going, as most people on here will do every day. For someone like me who over thinks EVERYTHING, actually going ahead and doing something and taking a calculated risk is what it should all be about. That flutter my heart because I've actually took that risks gets me keeping on taking action.

I would say tho never, ever, ever risk something (money etc) that you can't afford to lose. I have always tried to keep initial monetary outlay on projects to a minimum and then re-invest profits to build up, this latest project has been different as my research is positive and I've had some smaller sucesses to lead me to the point where I'm more comfortable to take a little bigger initial risk.