Entrepreneurship: Is it really about taking risks?

Written by

David

in

A U.S. presidential candidate this year suggested that entrepreneurs need to take more risks.

Anyway, what does this mean for us business students or executives or entrepreneurs?

Does being a “risk-taker” or “non-risk-taker” really help define whether you can be an entrepreneur or not? Or whether you can be a successful entrepreneur or not?

In my own humble opinion, the answer is yes and no.  Yes, we need to take risks.  However, my (very personal) definition of a kick-ass entrepreneur is someone who’s both successful and obsessive about increasing the potential for profit while chopping down risk as much as possible.  This not only means investing very LOW capital, but also NOT HAVING TO QUIT YOUR DAY-JOB OR SCHOOL.(Actually, they can work well together…)

Luckily, we live in very interesting times, where we have great opportunity to set up great businesses with very great profit-potential using VERY low capital ONLINE; and just using great ideas based on our own inherent super-skills (i.e. great idea: this site; my inherent super-skill: explaining super complicated topics in a super simple way).   I’m sure you have your inherent skill too somewhere.  I eventually want to set up another site helping business students or graduates set up their own successful online businesses with extremely low investment. (Honestly, it completely puzzles me why so many startups need to raise so many millions of dollars from venture capitalists and give up such a big portion and control of their companies. )

How about you?  Do you dream of setting up your own online biz for very low capital?

 

Comments

5 responses to “Entrepreneurship: Is it really about taking risks?”

  1. Grant Avatar
    Grant

    Hi David,

    I’m doing exactly what you’re suggesting. I incorporated an online media design company in January because the internet is certainly the no.1 place to do business in the 21st century! 🙂

    I’m finishing BSc Business Management degree in the UK this year and the gap between theory and reality only seems to have become wider as I’ve progressed through university.

    You should create your new site ASAP to be a central resource where graduates can go to apply the “MBA bullshit” knowledge they’ve gained to the business world.

    Send me an email and perhaps we could do business together. I have some interesting ideas as to how you can promote yourself; you’re just the kind of person I’m looking for!

    Cheers,

    Grant

    Reply
    1. David Avatar
      David

      @Grant: Wow, I hope your idea takes off. I’ll definitely post it here when my new website is up. Cheers and good luck!

      Reply
  2. Mira Hassan Avatar
    Mira Hassan

    Cont’d
    Your website is important to keran.
    To close my email (sorry too long)……. Once again thank you.

    Should you come to Jakarta, please contact Me so I can meet you in person.

    Great job…….
    Great lectures…..
    Great ebooks…………
    Very best retardasi,

    Mira Hassan

    Reply
  3. Mba college in Delhi NCR Avatar
    Mba college in Delhi NCR

    well, david..! i am totally agree with you. According to my way the main issue of a Entrepreneurship, when you start it, lack of guidance, lack of knowledge of that particular field. what do you think ..?

    Reply
    1. David Avatar
      David

      Hi “MBA College in Delhi”, having guidance and knowledge are helpful in reducing risk, but there are also some successful entrepreneurs who just “go for it” even without those. Of course, it’s always better if you have those beforehand. Your choice. 🙂

      Reply

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