Plan on ways to eliminate excessive risk, not ways to eliminate all risk. Calculated risks are essential to business success. We accept risk because we believe the potential for reward outweighs any potential harm.
“He that will not sail till all dangers are over must never put to sea.”
Dr. Thomas Fuller, (1654 – 1734)
British physician, preacher, and scholar
If you never take risks, you’ll never chart new waters, open new markets or even open your doors. You have to push some limits to win. Sometimes you have to take a chance, as it is the only way around a competitor. Other times you eliminate as much risk as you can to maintain your lead. The key is to minimize the downside.
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