How Much Risk is Right for Your Small Business? Episode 166 of the Small Business Show
Business Brain – The Entrepreneurs’ Podcast
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Show Notes
Is all business risk bad? Searching for “small business risk” online and you’ll find most articles and resources are focused on minimizing or avoiding risk. Listen in to today’s episode of the Small Business Show to hear why we believe that taking risks is part of the “secret sauce” of business success. Without risk, you’re no different than the person working in the cubicle who never starts their business in the first place.
Your hosts, Dave Hamilton and Shannon Jean have some strong ideas about risk and why you should be embracing it, turning risk into opportunity for your Small Business. During the show, you’ll hear about how taking risks can create an advantage over your competitors and how the anxiety associated with taking risks can fuel your motivation.
You’ll also learn about minimizing risks and how to use successes of any size to create a Success Cycle that will propel you to even more awesomeness.
Join us today on the Small Business Show for all this and much more. Then, visit our Support Group to join the conversation!
Chapters/Timestamps:
- 00:00:00 Small Business Show #166 for Wednesday, April 11, 2018
- 00:01:01 Did Facebook get your data from Cambridge Analytica
- 00:02:52 How much risk is OK for you and your business?
- 00:03:35 Risks are Opportunities
- 00:06:19 Tim Cote from Commonwealth Financial on Small Business Show
- 00:08:11 Ideas Aren’t Worth Anything (except the paper they’re printed on… including patent paper)
- 00:10:14 The benefits of a Working Agreement
- 00:11:20 Anxiety is Motivation Fuel!
- 00:14:00 Describing your wheelhouse
- 00:16:25 “I never lose, I either win or learn”
- Failure Sucks
- 00:18:00 You’re fooling yourself
- 00:19:05 I’m a badass!
- 00:19:26 Train your inner judge
- 00:21:19 SPONSOR: Visit TextExpander.com/podcast for 20% off your first year.
- 00:24:17 Create a Success List
- 00:25:25 Calculated Risks
- Your Advisory Board: Good Insurance, Attorney, Banker, Accountant
- 00:26:41 “I’m doing this” vs. “What do you think?”
- 00:29:47 Forming an LLC is easy
- Dave used DelawareInc.com
- 00:34:12 SBS 166 Outtro
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