Formulate, Calculate, Cultivate, Evaluate: Taking Risks in Business by Noble Newman
“The biggest risk is not taking any risk… In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”
If there’s someone alive today whose ideas and advice about entrepreneurship are worth listening to, MArk Zuckerberg is that man. The founder of Facebook took a risk a few years back and benefitted to the tune of a 50.4 billion dollar net worth.
Not bad, eh?
Mark Zuckerberg and hundreds of others have ventured down this same path–incurring huge risks that ultimately paid off in the largest way imaginable. Without having taken the risks that he did, Zuckerberg could have gone the way of millions of entrepreneurs every year who file their business plans away as “too complicated,” “unattainable,” or, perhaps worst of all “too risky.”
At the core of an entrepreneurial venture is the concept of taking risks. Without risks, you’ll find you and your business ventures calcifying and stagnating. Stagnation can kill a business or an idea faster than almost anything else–very much like I wrote about on NobleNewman.net. And the avoidance of risks can kill a business before it even starts.
Action is important in the creation of a business or in capitalizing on an opportunity. Don’t wait until it’s too late to put your ideas into creation–instead formulate, calculate, and cultivate and evaluate.
Any good idea for a business starts with a plan. The necessary first steps involve formulating a top to bottom business plan–map out the idea for the product or service, how you’re going to create it, how it will operate and how it will be delivered and marketed