Entrepreneurship is something when a human or a group of humans try to do something. It can be selling products, cleaning places or even building something. There are always risks when you do business. Risk are made up of the likelihood of something going wrong and a negative consequence, if it does sometimes this is small and other times it can be large, and the consequences can be serious. This is why thinking of risks before making any decisions is really important. Understanding the risks help you to manage them better if necessary.
At school we got a challenge to answer to few questions about risks in entrepreneurship. Questions were cons & pros registering company in Finland, mistakes entrepreneurs do at the beginning and what can be possible risks in business. My teammates and I started brainstorming about how we can get the best possible answers out of the questions. We wanted to get best answer to the question about risks in business. We decided to interview entrepreneurs we knew. It was really interesting to contact entrepreneurs and go a little deeper in their career. I personally interviewed my friend that manufactures carbon parts to race cars. He said that you have to consider risks before making a decision. Having a good business plan and knowledge about different risks gives you better chance avoid them, but every entrepreneur will encounter risks at some point.
This challenge opened my eyes more like how determined and brave entrepreneurs are. Starting a business dares you to take risk. You may have to take loan from bank for having money to start run the business. My team still feel really comfortable about entrepreneurship and risks, now we have better knowledge how to prepare for risks and probably avoid mistakes new entrepreneurs do at the beginning of their career. Being in touch with long time entrepreneurs and new entrepreneurs gives a lot of good information about how to avoid mistakes and manage risks.
My team tried to share the best possible information about risks for the entire class and made them also thinking, what possible risks in business and entrepreneurship there can be. After the class our teacher brought up really good question, after we were talking about risks and kind of bad things about business. She asked, “Do you still want to be an entrepreneur”. This question made people in the class thinking even more deeply about risks and are they ready encounter them. This was awesome end for the class.
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