If you look up the definition of an entrepreneur, depending on where you look, you will find words like risk taking, gambler and willing to give up financial security. That may be true in some cases especially, if you have no idea what you are doing and have no one guiding and directing you through the process. One of the major challenges most people who start up their own business have is that they have no idea what steps to take or any concept of what it takes to run a business.
Let’s start by defining the difference between gambling and risk taking. A gambler is someone who knows that the odds are always in favor of the house and chooses to take the risk anyway. An entrepreneur should be someone who takes into account all of the possibilities and does the research needed to minimize the risk. We call it calculated risk.
Let’s be honest… there is risk in everything you do, and most of the security people think they have is a false sense of security. Look at “job security” for example. At any point, you can be laid-off, downsized, fired or the business could simply close. You have no control over that. Calculated risk means you have a degree of control.
“There’s no such thing as reward without risk.” – P. David Hall, Founder, Entrepreneur University
Calculated risk comes with a reward. The reward you get when you put in the time and effort to make your own security can far outweigh the reward you get for just accomplishing your task while working for “the man”.
There is a feeling of fulfillment and purpose that you can’t get working for someone else. It is a feeling that can’t be described and once you have felt it there is no turning back. Once you have felt significance you’ll be hooked and that is what entrepreneurship can do for you.
When you have someone walking with you step by step guiding you through the process you can eliminate the majority of the risk, and that is what Entrepreneur University does for people every day.