Entrepreneurship: Taking Risks and Getting Rewards

January 8, 2014

Do you dream of having your own business or becoming your own boss someday? Without a doubt, there are many advantages to becoming an entrepreneur. Not only will you not be taking orders from anyone, but you will also gain greater intrinsic rewards such as a sense of fulfillment and pride. However, change of any kind is never easy — even more so if it concerns your source of income. You will have to change your lifestyle and appropriate your budget differently since you would have to get an office, buy equipment, and hire workers.

Now, you don’t really have to buy a building or office space in order to put up a legitimate office. Renting bespoke space from providers would do just fine. Still, it would entail a lot of hard work, especially if you’re just starting out. In addition to that, you will be responsible, not only for yourself but also for your employees. This is why experts suggest that if you do decide to jump on the small business bandwagon, it may be wise to do it gradually and not enforce the changes all at once. How exactly should you go about it? Well, the following pointers might be of some help:

Change your Mindset

It’s quite easy to just stay in your comfort zone because you think you’re guaranteed minimal risks, and you are mentally and emotionally ready for most of the expected outcomes. However, this might mean stagnation.

Becoming an entrepreneur is essentially a gamble. Settling for what you’re already used to may seem great at first. However, if you want to see and achieve more, “comfortable” is a state that you should throw to the four winds. To achieve something worthwhile is to take great risks. The greater the wager, the higher the possible rewards. That is the basic principle of both gambling and entrepreneurship.

So prepare yourself for the changes and be ready for the bumps and potholes ahead.


Continue Learning

The world of business is always changing. Trends come and go; and people, especially consumers, can easily change their minds. So, ample research on trends and marketing strategies is a must.

You also need to be well acquainted with your industry. No matter how knowledgeable you think you might be of your chosen niche, there is bound to be information or relevant facts you don’t know that might be of some help to you as an entrepreneur. Moreover, it will also not hurt you to attend trainings, workshops or business conferences such as Be the Big Boss Summit: Strategies of a Champion Entrepreneur, where you can learn more about entrepreneurship. Do these to learn more about your industry and about supervising workers or dealing with clients.

Lastly, don’t shy away from new concepts, techniques and theories. In order to be a successful entrepreneur, you should not just be adaptable to change but rather a willing catalyst for it. In the words of the great Irish playwright George Bernard Shaw, “Progress is impossible without change…” So, if you want to engender progress, you should inspire change, not just welcome it.

Aim for the Best Outcomes

Don’t settle for just getting by. Plan your daily tasks and make sure to accomplish something worthwhile every day, but don’t just go through the motions. Now that you are more in control of your time and productivity, aim for the best possible results. If you expect a level of excellence from yourself and strive for it, you are more likely to gain great results.

Lastly, you should not give up at the first sign of disappointment or discouragement. Most successful businesses today did not reach the top without experiencing problems and maybe even failures. So, persevere and keep reaching for your goal. No one has ever succeeded by being a quitter.

Now, many have dreamed of becoming their own boss and keeping their own hours, but only a few really take that proverbial plunge. Of course, everyone has different reasons for taking risks — or not. For many, however, the fact that the transition from being an employee to an employer may be difficult is among the chief reasons why they don’t take the risk. However, without taking risks, there will be no change; and without change, there will be no progress. So, be willing to take risks, inspire change, and witness the rewards of your perseverance.


Author Bio:

Anna Garcia is a writer for Regus Philippines, a provider of bespoke serviced offices, business lounges, meeting facilities, video communications services, and mobile workforce to small businesses as well as large companies around the globe.

  1. Hi Dems! First of, a Happy New Year to you! ๐Ÿ™‚ I’m happy to have read this part of your blog, as I already have plans of getting into a small venture. Now, what the writer wrote was all true, especially with the risks entailed. I’m actually very scared to take this ‘plunge’, but very willing to grasp everything. So thank you for sharing this post, as it became a refreshing read for me. ๐Ÿ™‚

  2. attending trainings, workshops or seminars about entrepreneurship will really help a lot in deciding whether to push thru or not with the business

  3. Yes. It is really risky. I mean, in my own experience. Your income for this month could be very satisfying and then the next month, the sales is really low. So, there are lots of things that should be put into consideration when becoming an entrepreneur.

  4. I also majored in Entrepreneurial. Having a business is tough but if you really have the passion and knowledge of running one its the best thing to have to support yourself ๐Ÿ™‚

  5. I think everyone wants to be a boss and manage his or her own without being asked what to do. But the sad fact is not everyone has the determination, skills and luck to go up there. Education and experience are two very important elements to become one.

  6. the greater the return you want, the greater is the risk you must face… but one can minimize these risks… good tips. Yahweh bless.

  7. Nowadays, it’s becoming harder to go into business because it seems like everybody is doing it and you have to have a unique product to sell

  8. Being an entrepreneur is prone to taking risks. I believed that the greater risks are render, the better rewards in the end as long as you are knowledgeable on the type of business you are dealing with.

  9. One really needs to be bold to become an entrepreneur. There are a lot of risks, but of course, the rewards are great too. However, sadly, hard work, knowledge and skills aren’t just the ingredients in the mix. Most of the time, “luck” is also a factor. Anyhow, hard work still begets success though.

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