Get Lucky—Taking Risky Decisions
Risk. Usually, people think of this wrongly, but actually, it is the only way to thrive. Do not see risk in terms of loss; see it in terms of probability and the losses associated with those probabilities. If you have a 50 percent of losing two million dollars of a business valued at 10 million, do not go for it. Why? The odds are not in your favor, and there is too much at stake.
Risk is a choice.
Popular books about entrepreneurship frequently imply that entrepreneurs get lucky by taking huge risks. This is a myth! Most successful entrepreneurs are actually very cautious. They take risks, certainly, but they get lucky by de-risking their ventures as much as possible.
This chapter explains how to approach ...
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