I have always been in awe of the entrepreneur who rushes into new territory and comes out smelling like a rose. I can?t speak of the number of times that I have said ?If only I had risked a little more and taken the leap? … but before I was a funeral professional I articled in a traditional Chartered Accountants office (not unlike Ebeneezer Scrooge?s Bob Cratchit) and our mantra was always ?Call me back when you can quote me some solid profit numbers?. We always lived by the rule that the early bird gets the worm … but the second mouse gets the cheese in the trap.
Good risk taking happens when you hear of a deal and jump in after doing good research with the knowledge that a real commitment to hard work has to be involved and that persistence will pay off in the end. Bad risk taking happens when you hear about a chance to get in on the ?ground floor? of a deal that sounds ?too good to be true? and you jump before doing good homework. There’s nothing good about failing or watching other people fail. It’s a rare TV night without a tale of someone attempting to live the dream and going to hell-in-a-hand-basket in the process.
There are good opportunities and there are some not-so-good opportunities and it is up to you to discern the difference. ?Look before you leap? is the byword but there are situations where you will want to ?leap before you looking too hard? because sometimes looking too hard will trap you into embracing other people?s reasons for not doing something. Be brave but cautious.
I am sure that when Ryan conceived, then fulfilled his dream for this social network www.connectingdirectors.com and CDsocial Network, there were times when the BOO BIRDS could have squelched his plans in a moment … if he had allowed them to. I know for a fact that his research trumped their negativity and his ?gut feeling? along with his ?real commitment to hard work? buoyed him up on the stormy days. He had done his homework before deciding to jump. Then he took the leap.
As for me … I liked being the support staff for the early birds. Maybe that is where you are too. That was the way that I wanted it … the way I functioned best. The times that I took a business risk (by my definition) were always the times that followed a lot of good research from already watching the early bird get the worm. My conservative boundaries were where my comfort zone was centered. Yes, I watched many people win and many people lose but the common denominator was the learning that took place from both experiences.
Where is your comfort zone? Are you the bird who is out there at first light wrestling with that morning worm … or are you the second mouse who wanders past … observes the results of ?barreling in? … and leisurely relishes the taste of the cheese in the trap. Strangely enough, both approaches have merit but the deciding factor is always the mind-set of the entrepreneur.
Lest you get to serious on the matter, just remember this: In just two days, tomorrow will be yesterday … and all those questions will be answered.
