Fearless / Calculated Risk Taking

Entrepreneurship is, at its heart, an incredibly scary thing; individuals are laying everything on the line to pursue an idea, dream or passion. Often, new business founders are putting themselves at an incredible risk. Fear of failure is the major cause hindering potential entrepreneurs from founding companies.

Yet commonly, in fact, most entrepreneurs take very calculated risks. entrepreneurs must learn to constantly dance simultaneously with both fear and possibility. To them it is a matter of perspective. As the saying goes, they dare to go ‘where only fools dare to go’ and in so doing, reach amazing heights in their efforts. A willingness to take risks can give an entrepreneur yet another competitive edge Entrepreneurs as explorers who are in search of a destination. To the entrepreneur, it isn’t a big risk; it is a normal part of who they are. In fact, the bigger risk would be to not try at all. If one entrepreneurial endeavor fails, it actually helps them for their next venture. They are able to put it behind them, take the information that lesson, learn from it, and continue moving toward their vision.

EP draws parallels to Prospect Theory revealing the components of fear and shows, that entrepreneurial fear is a rather rational subconscious evaluation of the situation.

INSIGHTS     GRIT     INSTINCT