Risk-taking is part of everyone’s entrepreneurial journey - after all, as soon as you set out to take your idea for a business and turn it into what you hope will be a successful enterprise, you are taking a big risk. It means putting your money and dreams where your mouth is, experiencing vast amounts of stress, long hours, lack of sleep, loss of personal and family time, to name but a few of the inevitable consequences of embarking on this crazy journey. But being an entrepreneur doesn’t mean becoming a dare devil, it’s all about taking calculated risks, preparing well for any eventuality, and finding ways to mitigate the possible downsides of your business decisions. An important piece of advice to remember is that while taking risks is definitely something you should do as an entrepreneur, it’s equally important to make sure those risks are calculated and well thought through.

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