User Review( votes)
Taking a risk means that there is a possibility this risk will lead to a successful outcome, but there is also a possibility that it would lead to a negative outcome.
But in entrepreneurship, taking a risk is usually trying something new.
And when we try to compare the outcome of taking a risk to the outcome of inaction, we would realize that inaction or not taking risks has far more negative outcome then taking risks, thus not taking a risk is a huge risk.
Inaction is the greatest risk of all
To give you an every day example:
A person working hard, putting money aside in the bank, not taking risks to launch the small restaurant he wanted.
Risk should be equal to 0, but is it?
In reality, Inflation eats his money, for example: during the period from 1960 to 2021, the average inflation rate in the USA was 3.8% per year. Thus in 10 years inflation eats 38% of the value of your money, in 20 years it is 76%. In 20 years the money you stacked is worth 1/4 th or 25% it’s original value.
Millions of people did not want to invest in bitcoin when it was less than a dollar, a small risk taken at that time could have been translated to millions today.
The inaction was a way bigger risk than throwing 20$ and see it go to zero.
Dale Carnegie – Inaction breeds doubt and fear. Action breeds confidence and courage.
Risk comes from not knowing what you’re doing – Warren Buffett.
No Risk, No Reward.
The only strategy that is guaranteed to fail is not taking any risks – Mark Zuckerberg