Whether it’s getting good business coaching, training to be a better salesperson, improving your marketing strategy, or building confidence in your business identity – intelligent risking, investing time, and money into your companies growth is the best way to achieve success.
Managing intelligent risk and investing money into their business is essential for the small business owner (SBO), but what I’ve found is that they often choose to manage it by avoiding it altogether. This is by far the riskiest strategy at all.
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I frequently come across SBO’s, that can’t understand why their business isn’t going anywhere. They desperately want help, but they just won’t invest any time, money, or resources to get it. In their minds, the risk is too high, or “they can’t afford it”.
Instead of taking a calculated, intelligent risk in improving their business, they go on hoping that the one big deal will come through, or something will change. Sometimes a stroke of luck may happen, but most of the time it doesn’t. This is why it’s proven that you have better odds playing in Vegas than running a successful small business past 5 years.
In business, some people succeed and some don’t succeed – the ones that do succeed are often the ones that can manage and take intelligent investment risks.
In the end, guess what happens to these people that don’t invest in their company and don’t risk or spend anything – usually nothing. The business plods along and they hope that something will change their fortunes and help their business skyrocket to the top. If they’re lucky, their competition doesn’t move ahead and get stronger, more entrants don’t move into their industry and they don’t get swallowed up; that’s if they are lucky. Relying merely on luck is a scary place to be for any SBO.