Ben Says –
“I think a misconception about business entrepreneurship is that it entails a tremendous amount of risk at the outset.
Particularly when I talk to folks from non-entrepreneurial cultures overseas, their stereotype of entrepreneurs is crazy people who bet the farm and max out their credit cards……”
To that, I had offered the comment below –
The best of entrepreneurs demonstrate an impeccable sense of `timing’ their risks than `assuming’ them. If you wait till you get the complete facts as are requried to make a decision, someone else would’ve eaten your lunch. And if you show haste, you’ll be done in by competition. It’s all about practised gut feel and succumbing to the intuitive epiphany.
What if Bill Gates had accepted IBM deal to buyout his OS. He declined the deal then (timing) but later chose to license it out…now that’s how Microsofts gets made – by timing the risk.
It could be a disaster if you bet the farm early on; but it’ll be a catastrophe if you don’t when you have to.
Do you agree?