5 Risks Founders Take While Building a Business

October 23, 2017

7:15 am

Taking risks with your business can feel like jumping in the deep ocean with both feet at times, but it has to be done to succeed. We asked 5 entrepreneurs what’s the craziest business risk you have ever taken and why.

Quitting to Going All In

About two years into our startup, our founding team made the decision to quit everything else to focus solely on the company. We knew that our business needed our undivided our attention to more rapidly scale. And nothing makes you more determined to see your company succeed than removing the safety net. It was a risky, but ultimately the right decision.

– Maria Burns Ortiz of 7 Generation Games

Having the Courage to Leave Everything Behind

Entrepreneurs are always taking risks. I completely changed my life, my job, and even moved away to become what I wanted to be. Leaving everything behind has been one of the craziest things I have ever done and I got the highest reward: creating my business!

– Jessica Baker of Aligned Signs

Doing a Range of Things I Never Expected

Starting a business is risky and you have to be a bit crazy. Expect thoughts of quitting, loss of hope, failure, and even crippling anxiety or the reality of losing everything. That’s all part of it. There are dumb risks and there are calculated risks depending on experience. I’ve taken a range of risks because life is an exciting game of survival and self-mastery worth exploring.

– O. Liam Wright of True Interaction

Writing a Book With No Experience

I would say the craziest business risk I ever took was when I decided to write a book with no experience. My mistakes: getting involved with something I didn’t understand, dealing with people who had not (successfully) done the business themselves and spending money on the “risky business” that I couldn’t afford to lose. I learned a lot and am glad I did it, but man it stung.

– Bryan Driscoll of Think Big Marketing

Giving Up a Steady Income

I had been working at a stable corporate job for around four years while running a tutoring company on the side. After I started becoming extremely busy on my side job, I sent in my resignation letter at my corporate job and focused full-time on my business. Now, I have no regrets and every day I look forward to what I can do new again.

– Ajmal Saleen of Suprex Learning

Read more about startup life at TechCo

This article is courtesy of BusinessCollective, featuring thought leadership content by ambitious young entrepreneurs, executives & small business owners.

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Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world's most promising young entrepreneurs. YEC members generate billions of dollars in revenue and have created tens of thousands of jobs.

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