Many entrepreneurs think that risk is just an “occupational hazard” that can be minimized or eliminated by a smart businessman. That way of thinking is simplistic and wrong. In reality, some risks are good and should be embraced for growth and a competitive edge, while others are bad and should be avoided completely.
Traditional risk management focuses only on bad risks, and seeks to contain losses. But if you want growth and sustainability, you need to embrace strategic risk, which means intentionally taking a risk to grow your business or gain competitive advantage.
To read the full, original article click on this link: 9 Strategic Risks Every Entrepreneur Should Take
Author: Martin Zwilling