Most 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 create smart risks, which means intentionally taking a risk to grow your business or gain competitive advantage.
To read the original article: Startup Professionals Musings: Entrepreneurship Is All About Taking Smart Risks
