Anyone thinking about starting a new business or venture of any kind needs to think about possible risks and reward.
There are two elements to risk assessment: The likelihood that the bad thing will happen and the impact if the bad thing does happen.
A reward is an incentive – it may be financial, but doesn’t have to be. It could be positive feedback, customer loyalty, reputation, and so on.
Did anything surprise you in these readings? What do you need to think about in particular in terms of risk and reward?
Let us know your thoughts. For example:
- I was most surprised to discover …
- I think entrepreneurs need to …
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