Risk vs Reward: Business Start-ups

“Today, my mom is a healthy 54 year old who successfully owns and operates a popular bakery downtown – a goal she had all her life.  15 years ago she was diagnosed with cancer.  In the face of death, she quit her store clerk job, opened the bakery, started chemo therapy, and succeeded on all fronts.  Makes Me Think.*” 

Look at the tremendous amount that we as entrepreneurs (and those of you contemplating a business venture) could accomplish if only we had that kind of courage. That Mom of 54 years old did and she did it at the age of 43, staring cancer in the face. We’re never too young or old. Nothing is ever too hard or out of reach. There will never be a more perfect moment to begin than right now, so stop waiting for that “perfect moment” to come around. Dream your dream and pursue it with relentless dedication.

Risk Vs Reward, Key's to Business Success

Am I recommending you quit your day job today and go all-in on your dream tomorrow? No. What I’m imploring you to do is take a look at the risk vs. reward for your start-up business.

Here are some tips on how to calculate your risk:

  • Analyze your competitors; is there a demand in your industry? Could you be competitive?
  • Know your costs
  • Project your returns

Here is how to calculate your reward:

  • Nothing compares to the reward of success but is it it worth it to you to endure the highs, lows, endless hours of work, and breaking stress that comes hand in hand with attaining your dream? Because I promise, you will not fail in your venture when failure ceases to be an option and success is the only thing you will accept.

“Today, my son, who has his Masters Degree in computer engineering, is the Vice President of my daughter’s successful web design company that she started right out of high school. Makes me think*.”

Remember in anything you ever aspire to do, if you don’t take a risk, you risk everything.

Is the path you’re on right now leading to toward your goal/dreams? I’d love to hear from you in the comments!

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*Stories quoted from MakesMeThink.com