“Business is all about managing risk, embracing risk, working to defy and minimise risk, and yet respecting risk.” PART 1: THE BIG IDEA
Starting a new business is a big undertaking, requiring all sorts of things like inspiration (a “Big Idea”), market knowledge, research, analysis, advice, planning, execution, money, supporters, backers, customers, suppliers, hard work, determination, self-confidence and lots of ‘grit’.
Another way of putting it is: “One percent inspiration and 99 percent perspiration.”
You will have to work long hours for little or no income while you get things started.
It might look like a big backward step, particularly if you’re moving from a secure well-paid job into the abyss of a new venture.
People may ask why you would put yourself through all of this to start a…