MANAGEMENT

Detailed explanation-1: -In reality, successful entrepreneurs avoid risks whenever possible. Successful entrepreneurs are focused on earning a profit from their activities. Consequently, they avoid taking risks that could lose them money. As an entrepreneur, you must make profit-seeking the center of your activities.

Detailed explanation-2: -There are different types of risks, such as strategic risk, reputation risk and financial risk, that will always exist with every decision you make as an entrepreneur. Many of the things you do, say or even invest your money in can affect you long term.

Detailed explanation-3: -Entrepreneurs tend to be classified as those who take on high-growth, high-risk innovations while small business owners oversee an established business with an established product and customer base.

Detailed explanation-4: -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.