Guest Post By : Dustin Jordan Jr.
Being an entrepreneur, you will most likely take bigger risks than the majority of people. The ability to take risks is imperative in any business and will give you a substantial chance to succeed in a big way. But you should also know that not every risk you take will eventually pay out, but with cautious preparation and examination you will with no doubt have a much higher chance of success.
The vast majority of people I personally know and who have taken risks have been without a doubt more successful in their business lives. A lot of my close friends who have gone on the typical career path that is of working in the so called safe corporate environment in metropolitan cities all around the globe. I highly respect these folks and I believe they are doing great jobs. Though, the corporate atmosphere is not made for me, nor does ascending the company’s hierarchy seems intriguing. A lot of these people wind up with a decent income, advantages, and the security of being an employee for a trustworthy company with a bright future. The tricky part is, some folks won’t continue to ascent in the corporate ladder and they will be content with their present state and situation. Their salary, 100k, and all the other numerous benefits make them feel very safe and reluctant to try anything new or start their own venture.
Even when I was a young man, I’ve realized the perks of risk taking by observing other entrepreneurs. another hobby I enjoy practicing is purchasing and vending various items. I’m always searching Ebay.com , Craigslist.com, and any other website for the ideal item to buy. And by doing this , I’ve taken a huge risk on many items in the hope that they’d pay off. A large portion of these opportunities have worked out well for me and I have acquired a lot of money by making the right investments.
With the help small group of investors, I’ve bought tree houses that were being sold on the courthouse ladders. Preceding the purchase, we did as much investigation as we could, nevertheless there were still countless unknown factors about the houses as we were not lawfully allowed to set foot in them. Therefore, we assumed a risk that there might have been cracked tubes, floors or other problems. With the houses, we did have some unpredicted problems arise, but we were still capable of coming out on top and put a decent portion of money in our pockets. Purchasing houses at an auction and paying with cash is a risky business, nonetheless there certain can be a huge reward with some planning and a little bit of luck on your side.
Just three weeks ago I’ve found a trailer in the city for a decent price and spoke to the person who retained it. I took the opportunity along with a friend of mine. We winded up negotiating with the owner and buying it for a good price. The next 3 days we found someone who is willing to buy, resold it, and took a good chunk of cash. We gained greater insights in the trailer market, had money on our hand, and we were able to get some extra cash just for the reason that we could take risk and have some extra money on the side.
Many people frequently ask how I am continuously finding great deals and making extra cash. I am very happy to give advice and help them. But, they must have the aptitude to take the risk. I’ve found that a lot of them don’t. Some don’t think they have the spare $400 or whatever it might take to invest. others might not feel very comfortable. These investments will combine overtime and get larger and larger. Picture now if you never took on these opportunities. You would unquestionably be missing out a lot!
countless entrepreneurs that have started successful businesses have risked everything to get there. Business owners consume every last bit of their credit cards, cash out 100k’s, and risk life savings on startups. This is a huge gamble, but many entrepreneurs are ready to do it for the purpose of following their passion in life. If these people didn’t start their dream business, there will be always a question looming in the back of their head… “What if I had started that business?” “What if I had actually started that business and didn’t waste my life working in a job I hate?” “And WHAT IF…?”
So, when an investment or business opportunity comes along, I urge you to take the time to research it. And If it looks indeed like a reasonable opportunity don’t be afraid to go out there and do it. Be passionate about it, believe in it and set smart goals, and, a lot of good things will happen eventually. Wish you Good luck!
“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” – Mark Twain
In my life experience I’ve found that entrepreneurs love above all to enjoy life, take big risks, and be very successful, and try new ventures. These people are commonly motorcyclists or even pilots, into extreme sports, and always very motivated, and passionate about what they are doing. It is so exciting to encounter and talk with fellow entrepreneurs about opportunities as well as interests outside the business world. Entrepreneurs are their own kind of people.
Peter Bernstein has written a comprehensive history of man’s efforts to understand risk and probability, beginning with early gamblers in ancient Greece, continuing through the 17th-century French mathematicians Pascal and Fermat and up to modern chaos theory. Along the way he demonstrates that understanding risk underlies everything from game theory to bridge-building to winemaking.
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