RISK ADVERSE?

"Those who can bear all can dare all."

Marquis de Vauvenargues (1715-1747) 

French moralist/essayist/writer.

We all take risks although the stakes are much higher for some than others.

Don't risk more than you can afford and are willing to lose.

And don't expect unreasonable returns for the risks you do take.

THE PERILS OF UNCERTAINTY

"When we are not sure, we are alive."

Graham Greene (1904-1991) English writer.

The silver lining in an otherwise potentially dark cloud.

Why? Because we are more often not sure than sure.

So what to do?

Accept that is the case and plan accordingly.

AND RUINS THEM TOO

"Fortune befriends the bold."

John Dryden (1631-1700) British poet/dramatist/critic

I don't advocate being risk averse nor so certain you will succeed you fail to acknowledge you well could fail.

Planning will reveal how close you are to each.

ACCEPT, REDUCE, AVOID, TRANSFER?

"Hesitation increases in relation to risk in equal proportion to age."

Ernest Hemingway (1898-1961) American Writer

And not just for people; this is just as true for companies.

The longer they've been around the more risk averse they become, often without realizing it.

That isn't necessarily a bad thing, just reality.

AFRAID TO BE AFRAID?

"He who fears to suffer, suffers from fear."

Proverb

You could also say he (or she) who fails to risk, risks failure.

There are no sure things; identify what is important to you and go after it.

No Attack No Chance

"We must walk consciously only part way toward our goal, and then leap in the dark to our success."

Henry David Thoreau

19th century American naturalist, poet and philosopher

And often our failure.

But make no mistake about it, ultimately leap we must do.

Indy car race driver Takuma Sato succinctly sums it up with his racing philosophy, "No attack no chance". 

Scarecrows Around Every Corner

"Logical consequences are the scarecrows of fools and the beacons of wise men."

Thomas H. Huxley

19th century British biologist

Sometimes we fear what possibly, but not certainly, we may need to fear, before we need to fear it.

And for that we are fools.

Understand the potential consequences of your actions, and decide based on that what course you will take.

There are enough real threats to be avoided without adding the unreal ones we perceive as real.

Always?

"The entrepreneur always searches for change, responds to it and exploits it as an opportunity."

Peter Drucker

20th century American business writer/consultant

Not quite, not if we're going to equate all entrepreneurs with success as this quote appears to do.

Many more fail to do this ("exploits it as an opportunity") than the number who succeed.

But it is the entrepreneurially inclined who get all the headlines when they do so successfully so accept the quote intent if not always the outcome.

Which Path Will You Take?

"The path is smooth that leadeth on to danger."

William Shakespeare

16th century British poet/playwright

There are two reasons this could be true.

One, because what's at the end of the path is not all that dangerous.

Two, because what's at the end of the path is dangerous and because it is few take that path.

Which do you think it is?

Making Progress?

"There is safety in reserve, but no attraction."

Jane Austen

18th century English novelist

And in business as well.

You won't have an accident going zero miles per hour.

You also won't get anywhere.

A Voyeur Or Participant Of Progress?

"We love to overlook the boundaries which we do not wish to pass."

Samuel Johnson

18th century British author

The sweet spot in business is being agressive enough to always be moving ahead.

Too agressive and a loss may mean the end of your business.

Not enough and everyone passes you by as though you were standing still.

How's your risk balance?

Close Follower?

"Be not the first by which a new thing is tried, or the last to lay the old aside."

Alexander Pope

17th century English poet

I understand the problems associated with being the "point" on the "arrow", but I think I'll continue to error on the side of too soon versus too late.

At least in business.

You?

No Time Like The Present!

"Prosperity is not without many fears and distastes; adversity not without many comforts and hopes."

Francis Bacon

16th century British statesman

We are ever so slowly emerging from extremely difficult economic times and with that comes a lot of cautious business people who say they are waiting for things to improve before once again spending to grow their business.

Waiting for what?

As Mr. Bacon says, there is bad in all good, and good in all bad.

Get on with it!

When Enough May Not Be

"Security is the chief enemy of mortals."

William Shakespeare

16the century British playwright/poet

Well security takes many forms and no one with too little to eat would agree with this.

But I do see his point.

Not a good thing to settle for what appears to be secure when you can and should accomplish more.

(Even) If It Ain't Broke, Fix It

"Hesitation increases in relation to risk in equal proportion to age."

Ernest Hemingway

20th century American author/adventurer

We all know this is true in our personal lives; the older we get the more risk adverse we become.

But in business as well.

The more successful a company, the longer it has been around, the less likely is management to consider and try new ways.

And in that are the seeds of its downfall.

Are You Up To It?

"No one would ever have crossed the ocean if he could have gotten off the ship in a storm."

Unknown source

Not only do I think some would but am certain many have, although far from a majority or even a large number.

The truth is most will avoid difficult challenges, particularly when the odds are against them, the consequences of negative outcome severe.

Whether it be a start-up or a new venture within an established entity, what is your appetite for risk?

Making it more personal, will you tell your boss you think she's wrong?

Doubling Down or Investing?

"Money won is twice as sweet as money earned."

Paul Newman in "The Color of Money"

20th century American actor

This movie and Mr. Newman's comment was about gambling and was in no way related to business, but in reality are they all that different (gambling and business)?

Both involve risk and reward with outcomes based more on assumptions than knowns.

And yet many who would never consider gambling will willingly put money into business ventures.

How about you?

Up To And (Occasionally) Across The Line

"Only those who will risk going too far can possibly find out how far they can go."

T.S. Elliot

20th century American-English poet/playwright

In other words, you can't know how far is too far unless you occasionally go there, with the trick being knowing how to come back?

Have you, do you?

What Are The Odds?

"The gambling known as business looks with austere disfavor upon the business known as gambling."

Ambrose Bierce

19th century American journalist

What are the differences between the two?

Both are about taking chances, hoping for financial gain, all based on more unknowns than knowns.

But at least with gambling the rules are clear.

How Much Are You Willing To Lay On Which Line?

"No man is worth his salt who is not ready at all times to risk his well-being, to risk his body, to risk his life, in a great cause."

Theodore Roosevelt

26th president of the United States

Fortunately for those of us in business, Mr. Roosevelt was most likely referring to dangerous pursuits such as war, however the thought applies to business just as much.

You have to be ready to commit if you are to win anything of consequence.

Are you?  How great is your cause?