Taking Risks

I read an article recently on Richard Branson, the flamboyant billionaire who has a knack for making money. In this article he addressed risk-taking.

Click to view the article or paste it in your browser:

http://www.discoveraccu.com/audio/risks.doc

The reason for sharing this article with you is for you to consider “risk taking” in the day to day management of your business. Let me clarify this statement.

Too often we get too focused on the donut vs. the hole and lose our entrepreneurial energy. I have a formula for how to create entrepreneurial energy:

R(s≠b)(P+E) = EE

EE = Entrepreneurial Energy
R = Risk
P = Planning
E = Execution
s = small risk
b = big risk

If small risks are taken in your business on a daily basis, Entrepreneurial Energy is created, is infectious, and is a key ingredient to building momentum in your business. Momentum builds confidence. Confidence is perceived in your demeanor and has a magical effect on people around you, including your potential clients. People and companies do business with people they like and trust and confidence builds trust.

Don’t worry about failing. You will fail with many of these small experiments. Don’t look back. Learn from them and move on - just like our billionaire friend, Mr. Branson.

Moral of the story: Taking small risks leads to growth in your business.