Close your eyes and picture a risk. Is the picture in your mind’s eye a danger or an opportunity? Few of us realize that risk is not necessarily something bad, and in fact can lead to something wonderful. Another common misconception about risk is that it is all or nothing. Either you can control all of the outcomes of a decision or you can control none of them.
For budding entrepreneurs or early-stage enterprise leaders, this misconception can be paralyzing. Yet the most effective leaders are those that embrace risk and manage it towards the most positive outcome.
In truth, the knowledge and control you have over the factors included in risk are always on a spectrum. Especially in these times of economic upheaval, the degree to which you can know and control all that is knowable and controllable depends on the tools you have available at the time of decision making. And the knowledge you have will never be complete because no one, you included:
As the market rebounds, get ahead of the game. Increase your cash flow now. Help your business earn higher profits and improve cash flow to sustain business growth. Check out these finance guides to get the most out of your biz.
Resources to Jump Start Your Cash Flow
Establish a Line of Credit
Finance Your Start-up (Also in Spanish)
Get a Loan (Also in Spanish)
Manage Cash Flow (Also in Spanish)
Trim Fuel Costs