Most friends who don’t exactly know what I do for a living think I am a HUGE risk taker.
While I do take more risks than your average Joe/Jane, I wouldn’t consider myself a poorly prepared risk taker.
The decisions I make that have a medium to large downside always have serious thought and homework put into them.
I also rely heavily on my “gut instinct” which has been right more than it has been wrong during my career.
With that in mind, how do you know if you are afraid of risk or just good at avoiding bad risks?
Simple: If you haven’t taken a reasonably serious financial risk for a business or investment idea before the age of 30, then you may not have what it takes to be an entrepreneur as your full-time career.
I’m not saying you have to be some wildly successful entrepreneur or invest your life savings in a start-up before your 30th birthday.
I AM saying that if you haven’t bought a rental property, started an Internet business or put $20K into a Subway shop by 30 years of age the fear of risk will probably keep you from becoming the entrepreneur your always dreaming of.
This isn’t to say you can’t still become a successful entrepreneur. YOU CAN! The fear of risk just becomes more paralyzing as we get older.
Generally speaking, the older you get, the more financial responsibilities you have. The more financial responsibilities you have (again, generally speaking), the less risk you’ll be apt to take.
Do you agree or disagree with my assertions on risk? I would love to hear your thoughts and experiences on the matter. Is the fear of risk holding you back from your entrepreneurial passions?