4 Assumptions About Risk You Shouldn’t Be Making

It is often assumed that entrepreneurs are the risk-takers in the world. The new business owner will quit his or her job and invest their lives in their product and/or service, thinking that if they work really hard they’ll succeed. This is not always true. With four examples that leave conventional wisdom behind, the author makes the case that the risk-taking scenario is really not a key to a new business’s success.

Key Takeaways:

  • Innovation seeking executives need to re-evaluate their current understanding of risk.
  • Progression in emerging markets, accepting and learning to manage risk, celebrating failure as a catalyst for future innovation, and leveraging the paradox between reward and punishment for innovators, is paramount.
  • Many executives need to re-evaluate their understanding of risk, and how they rationalize those bad decisions after the fact.

“In many cases, the riskiest action is in fact inaction. The pace of change in today’s world means that standing still leads to falling behind current and emerging competitors.”

https://hbr.org/2016/08/4-assumptions-about-risk-you-shouldnt-be-making

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