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The Entrepreneur's Playbook by Paul B. Brown, Leonard C. Green

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PRINCIPLE 8

Successful Entrepreneurs Are Not Risk-Takers; They Are Calculated Risk-Takers

Here’s a question most of my students get wrong, and you likely will too. (Don’t feel bad; just about everyone answers it incorrectly.)

Ready? What is the number one characteristic of an entrepreneur? (Hint: If you read Principle 5 carefully, you know.)

The vast majority of my students—and everyone else I ask—usually say, “They’re risk-takers.” If I’m feeling generous, I’ll reward my students with partial credit for this answer, but I probably shouldn’t.

The number one characteristic of successful entrepreneurs is that they are Calculated Risk-Takers. The difference between risk-takers and calculated risk-takers is the difference between failure and success. ...

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