Evaluating Your Risk In Entrepreneurship

Posted by Imam Larh on Wednesday, 7 March 2018

Evaluating Your Risk In Entrepreneurship
There are several questions for Entrepreneurs before deciding to take risks, namely:

A. Is it risky that it could be worth the effort?
If the business in which the gamble (gambling) output (outcomes) that come out would have greater harm than good. To do business.
B. How can it be reduced?
Entrepreneurs must act efficiently by reducing funds that do not exist directly with production. In a small business, there is no need to swim tennis and swimming pools. Act effectively so that the intended target will be easily achieved.
C. Which personnel can reduce the risk?
Every activity requires human resources. Everyone is required to provide the best possible work productivity. This is only possible when "the right person is in the right place". To improve the productivity of each employee should be educated, trained, data both formal, informal and nonformal.

D. Are you afraid of taking risks?
Pessimists are still afraid. But, for entrepreneurs who think positive (optimistic), risk becoming a challenge. Like a fisherman who wants to catch big fish, he must dare to face the waves in the open sea. Even so, that courage must be taken into account. When it has responded 50% then we have entered the gambling arena.

E. What preparations do you take before taking a risk?
The main ones are to be mistaken as leaders who must have different skills (see technical risk). Next should correct the weaknesses that are being for the right strategy. After the possibility of risk is taken into account, we must follow with the spirit does not recognize surrender (Hausauer), like a horse that pulls the cart that traveled a distance of tens of kilometers. 

All with quantitative calculations and as well as an Entrepreneur, namely health, time, skills, age, and so forth. The entrepreneurial spirit is only owned by a small portion of the group of fishermen. They dare to live on the beach tide know one day a big wave will throw. But, they know big fish are not on land.

Evaluate your own needs before deciding to take risks. There are several questions before making a risky decision:
  1. Is it worth the response with the result?
  2. How can it be reduced?
  3. What information is needed before the risk is taken?
  4. People and resources that can help reduce risk and achieve goals?
  5. Why is this risk important?
  6. Are you in taking this risk?
  7. Do you want to do everything possible to achieve this goal?
  8. What would you be able to achieve by taking that risk?
  9. What preparations need to be made before taking the risk?
  10. How can you know in a quantitative way your goals have been achieved?
  11. What are the greatest obstacles to achieving that goal?
In business, as in life, it is obviously impossible to avoid risk. If you take risks, you will be sure of yourself and your view of the impact of risk will be more positive, because you believe in your abilities, and you accept the best risk in achieving the ultimate goal. Quantitative data (numbers) will help in all possibilities and goals to systematically outline progress. 

Finally through quantitative data can be measured results achieved in relation to the original ideas. Keep in mind the accuracy and meaning of the numbers. Quantitative data will support knowledge, background, and experience in making decisions. Process improvement. The list of questions above is an example of a question that must be answered before assuming a risk situation. The effect before asking these questions will probably result in failure.

Any activity undertaken will certainly get a risk, either a predictable risk or a risk that is not at all suspected. So the things that need to be considered in taking the risk of a risk situation and decision making are as follows:
  1. Assess the presence or absence of risk in the situation at hand.
  2. Consider the company's policies and objectives.
  3. Developing alternatives to certain risks by conducting surveys.
  4. Gathering information intensively so that the assessment of every realistic possibility can be made real as well.
  5. Determining risks based on realistic assessments of the extent to which you as an Entrepreneur can affect the situation.
In business as well as in life, it is obviously impossible to avoid risk. If you take the risk, you will find your ability and will be more confident in yourself and your view of risk taking will be more positive because you believe in your abilities. And you accept the risks as challenges that demand your best efforts in achieving goals.
In general, every Entrepreneur thinks optimistically. Like if you see a glass that contains half water, he reminds half full, while others say half empty. Creative thinking and ability to see the opportunities and the ability to face the challenge of causing an entrepreneur more dare to bear the risk.

Nevertheless, the risk that will happen should not be included in the game of gambling. Therefore, feasibility studies should be made so that the percentage success is greater than the possibility of failure. Almost all risks can be minimized or eliminated. 

That is why with human Apollo aircraft can land on the moon and return safely even though the Challenger space shuttle is at risk of exploding in outer space. By scientific means, the risk of failure can be reduced as little as possible.

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