10 Ways to Run a Risky Business
Cyndee Sugra, 30, started her digital design and marketing firm, Studio 7 Media, in the middle of the dotcom crash. Last year, her Los Angeles-based company hit sales of $8 million.
This story first appeared in the February 2009 issue of Entrepreneur. To receive the magazine, click here to subscribe.
- Take a chance. The riskiest decision you make can be the most rewarding and gratifying.
- There's no crystal ball. Take big leaps to learn about yourself as an entrepreneur and a decision-maker.
- Once you make a decision, be confident with it and move forward. Don't look back.
- Stop worrying. You can't take risks confidently if you're constantly worrying about the outcome or the future.
- Remember that there are no mistakes. If you fail after taking a risk, the lessons learned are invaluable.
- Ask yourself, what's the worst that can happen?
- Keep stepping out of your comfort zone. The more success you experience through your risk-taking, the more you'll allow yourself to branch out.
- Don't let perfectionism get in the way of taking risks. Accept that as an entrepreneur, learning is never-ending.
- Evaluate what you're really risking. It might not be as scary as you originally thought.
- Don't stress about coming up with that "big idea." Big ideas don't come easily--a small idea may actually be the big prize.
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