When selecting a career in business one needs to know risks are part of the job. The difference lies in the calculation and interpretation of the consequences of the risks taken. Two questions that one must keep in mind while making any sort of risky plans:
- What is the degree of risk?
In case of a large scale risk, one must ensure an exit plan is created. There may be losses but it gets worse if a Plan B has not been made. Back up plans are essential for any corporation be it small or large. Losses can still be bourn if a sufficient exit strategy has been made.
- What are the consequences of the risk?
One is required to have foresight, that is, he must have the ability to see what his plans will hold for the company’s future. The ideal candidate must represent all the qualities that are needed for a harmonious running of the company and yet he must also continue to defy systems, processes and rules, but survive because of his commitment to the corporation is unquestionable. He delivers consistent results, even though his individual plans don’t always succeed.
A good businessman can manage to debunk many of these myths. The successful person is one who is able to turn the negatives into big time positives. One has to be an optimistic approach. They are passionate about all business ventures. They do not take big but moderate risks after looking at all the options and downsides.
They are also known to take full responsibility for what they do and all the known and unknown consequences. They are driven to achieve high values for the company. They are known to be team players with the ability to motivate and gain confidence so that all can perform to the best of their abilities.