|Categories:||Risk Business Risk management|
As an entrepreneur, one ought to be a risk taker and should be bold enough to stand for the risk since for every dream there is a price to pay the same case applies to business. Although the probabilities of the risk are materializing maybe, basic belief should outweigh fears. For one to be a great entrepreneur, he/she needs to be conservative in that you are not available each and every time, and instead you should be busy creating links and business connections.
One should not give up on the dream due to the influence of others but rather hold on steadily and work hard for success. Striving and struggle precede success even in the dictionary. As an entrepreneur, discipline is crucial for effective time management and realization of objectives.
As an entrepreneur, one should be willing to try out new things so that they can be able to realize the diversity that the market has to offer and get new ideas so as to improve the quality of their products if they are undervalued or rather they are not at par with the other commodities in the market.
Business is a broad scope of opportunities and what matters is how you grasp the opportunity and you utilize it. One business that fascinated me was the selling of tailored suits to my classmates. The suits costed around $35, and I would buy a tie and caflings and give to those who purchased the suit as discounts, the tie and caflings costed around $5-6, the whole commodity will cost me $ 40 or $41, I would sell the suit at $65, from the sale I would make approximately $25. If am able to sell ten suits in one week then I am making roughly $250 and if this goes for a whole month then am able to make $1000, this is quite a good amount of money.
I like trendy wear, and the measures that have been kept in place is to look daily up for the latest trends in the fashions scenes and try to incorporate new and better ideas. With the help of the greatest team of good tailors, ideas are fostered out so that we can come up with a better ideas that can help sell the commodity, for instance, we can blend the colors to see how to thay can produce the best combination of the fashion work.
From the last four months, the reception in the market has been good and therefore, it gives the team behind the scenes more zeal to work even more and come up with cool fashion wear and trends. For effective management and also to stay relevant in the market, motivation is key and if the motivation is there, then nothing can stop a business that has the potential to grow, from achieving it.
The bigger the risk, the bigger the profit, this advice tends to make investors and businesspeople to make risks that they may not recover from it. The best advice that can be depicted from here is the viable the risk the more the profits will be sustainable, in that you not only take a risk but a possible risk, a risk that can yield results. This advice is therefore not supposed to be taken blindly but with a lot of caution and keenness so that at the end of the day the entrepreneur will not end up lamenting.
No one can be comfortable when things are not going according to plans; this is because it only reflects your efforts and therefore restraining will be essential so as to prevent losses from accruing and also getting into bad debts that might end up being unsettled. For a business person or rather an entrepreneur things out to fall into place as planned because if they donot then the efforts, contributions and finance would go to waste.
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Free Essay Sample about Risk in Business. (2020, Aug 13). Retrieved from https://speedypaper.com/essays/managing-class
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