In this Startup Survival episode, we are diving into a topic anyone thinking about starting their own business must get comfortable with: taking calculated risks. When will a risk bring you toward your goal, and when is a risk, well, too risky?

Evaluating risk naturally requires weighing the benefits versus the drawbacks. I share just how thoroughly I think through a risk so that I’ve played out all of the possible repercussions of my decision. Some might say it’s a pessimistic mindset, but it’s helped me navigate my years as an entrepreneur by fully understanding the stakes.  

Tune in because at the end of this episode, we’ll also talk about how to handle what to do when others insert their opinion about the risk(s) you’re taking (and they will). But if you have thoroughly examined what’s right for you, then you can feel secure in your own instincts. 

Episode highlights

00:26 Some choices are really easy, but some you have to truly calculate whether or not you want to take a risk. 

2:10 By examining all scenarios, I can acknowledge and accept them, and I can know how I would react in each situation. 

5:51 I plan for every possibility to ensure I can still take care of my family even if the risk doesn’t pay off. 

7:13 When it comes to taking risks, just know that people are not always going to get it. You only need to trust yourself. 

More about the show: ​​www.jackiehermes.com/podcast

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