Individuals who dream of becoming owners of successful businesses need to master the skill of risk-taking. Many of them may have to resign from the present occupations to start their business ventures. Most of their friends, close relatives, and acquaintances may initially discourage them from taking this step. This is because they believe this is a risky move to take. According to them, there is no guarantee these aspiring business owners will succeed in their endeavors. In the process, they will be ruining their financial stability. Yet, budding business owners know they cannot achieve the success they crave without taking risks.
Mark Strome – Why do business owners need to be risk-takers?
Mark Strome is an American businessman and philanthropist. He has 20 years of valuable experience in the finance sector. His area of expertise is in managing investments, hedge funds, and the securities portfolio of his clients. Currently, he is the founder and Chief Investment Officer of Strome Investment Management. He has the distinction of successfully establishing numerous private and public trading companies. The most important among these corporate enterprises are Pulse Biosystems and Reflexivity Entertainment. He is also well-known for his charity work. His philanthropic organization, The Strome Family Foundation, supports communities addressing local and international issues. It promotes arts, ground-breaking medical research, and education.
The need to take calculated risks for growth
He explains aspiring businessmen need to accept that operating any successful business is always a risky venture. They need to take on the role of risk-takers to ensure the growth of the business. Only then can they categorize themselves as being different from others in the industry. He goes on to point out the following reasons why business owners need to take risks:
1. Businessmen will never know their true potential unless they try
Business owners need to understand that no progress in this world takes place without risks. There is always an element of uncertainty in running a business that they need to accept. In many cases, they might fail. Some risks are most costly than others. However, risks will help them discover their true potential.
2. A learning experience for business owners who fail in the first attempt
Unless business owners take risks, they never know what it is like to experience failure. This implies they will not get ana opportunity to learn from their mistakes. Only the optimistic among them view failure as a learning experience. It is a means for them to find out where they went wrong so that these errors are not repeated in the future.
Mark Strome concludes by saying most people are reluctant to take risks throughout their lives. This is because they are afraid of facing the subsequent consequences of their actions. However, if one wishes to succeed in any business venture, risks are mandatory. However, these risks should be calculated. Business owners should ensure they have a back-up plan in the event of failure. In this way, they can experiment with certain practices and processes to help their business to grow and reach the next levels with success!
