ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurs take risks because they’re necessary to start and grow a business. Some of the risks an entrepreneur might face include: Leaving a full-time job and steady paycheck. Using personal savings with no guarantee of a return on investment.

Detailed explanation-2: -Innovation and opportunity are tied to risk Business leaders accept risk as a cost of opportunity and innovation. They know it cannot happen if you will not accept the risk that your undertaking might fail.

Detailed explanation-3: -Risk-takers don’t think about the escape route, the factors that make it risky, and what the situation will be if they fail. Entrepreneurs take calculated risks; they’re willing to “go big or go home” but they understand the consequences if they fail and have taken into account the likelihood that they’ll succeed.

Detailed explanation-4: -Richard Branson is one of the best-known entrepreneurial risk-takers in the game. The famous founder of Virgin has tackled everything from starting his own phone service with Virgin Mobile, to disrupting the airline industry with Virgin Atlantic and Virgin America.

Detailed explanation-5: -Risks can be calculated. You’ll never know until you try. Risk helps to distinguish between leaders and followers. Without risk there is no innovation. It is a chance to learn. 28-Jan-2016