"Entrepreneurs take calculated risks" is a phrase or quote I hear ever so often in sales, entrepreneurship, or business seminars... but the phrase always confused me. At first, I just took it for what it was worth, never really thinking too much about it. But after some pondering, I feel like this word of advice never really gave me any thing concrete to work off of. I mean, what are am I really supposed to get from it? Can any entrepreneurs even explain this to me? Are entrepreneurs out there calculating the risks on Excel Spreadsheets and Monte Carlo models or are they really just using their intuition? (which could be even better than the mathematical models). I feel like it's the latter... so why even use the phrase? First of all, it holds little meaning, and secondly it's confusing. i would say that a majority (now, I said majority , not all) of entrepreneurs out there aren't even doing any real mathematical simulations out there. Let me tell you why this ...
Not often is one able to truly start over, to really sit and reflect on one's life and the future -- especially how one wants their life to play out. Some are absolutely lost when asked the question: what is it that you want? We may have become the culmination of ideologies and expectations of our past influencers: the media, our friends, family, idols, teachers, mentors -- the ones we care about the most. Our thoughts may not even be ours any more. We may have spent such a long time carrying out someone else's expectations of us, who we ought to be and what we should be doing , that we fail to seek our own wants and needs and carry them out for our self-actualization. We get lost in this flurry of expectations, and perhaps our self-imposed responsibility to others, and never get a chance or even have thought about asking what is it that I want for my life? what is it that I want for my future? How do I want my life to play out? Yet, the question is almost vital to find...
"Clients who haggle over their agency's compensation are looking through the wrong end of the telescope. Instead of trying to shave a few measly cents off the agency's fifteen per cent, they should concentrate on getting more sales results from the eighty-five per cent they spend on time and space. That is where the leverage is. No manufacturer ever got rich by underpaying his agency. Pay peanuts and you get monkeys." — David Ogilvy “Wrong decisions are part of life. Being able to make them work anyway is one of the abilities of those who are successful.” — Warren Buffett “Instead of asking how many tasks you can tackle given your working hours, ask how many you can ditch given what you must do to excel.” — Morten Hansen Poet Marianne Moore offers a simple life strategy: "I've made it a principle not to be over-influenced by minor disappointments." Entrepreneur Sara Blakely, the founder of Spanx, on failure: "When my brother and I were growing...
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