Risk Management and the Common Thread
At their core, successful entrepreneurs share one common thread: they enjoy challenges and accept risks.
The old cliche is true — no risk, no reward. But there are also smart ways that entrepreneurs can take risks on the pathway to success. For example, hedging is a tactical risk management strategy used in limiting or offsetting probability of loss. It’s a transfer of risk similar to buying an insurance policy. And it’s an important concept that has served me well!