For me, one of the biggest business risks that I`ve taken was leaving the security of a desk job to embark on the venture of a new business. No more predictable income, no more company health benefits, stock options and the like. Having then to plan and budget more carefully than ever before with a new business.
I don`t think I need to drone on about all the risks of starting a new venture here of all places, but I will a bit. Taking chances, calculated or impulsive, is part of life, but the prospect of starting a new business has a unique risk set. While bungee jumping can be a risky venture, it is calculated and secure (for the vast majority of jumps) and more importantly - over quickly.
When starting a new business the risks are continual and change over the maturity of the business. From worrying about getting customer to pay to figuring out how to pay suppliers, (which is even worse for bootstrappers) to loosening the reins and hiring your first employees. There are always new and challenging risks ahead for the entrepreneur. While there will always be exceptional risks that we all take, for the most part they are short lived, few are as long lasting as the risk of a new business.
So far *this* risk is paying off and I`m looking forward to the challenging and unknown risks to come.
Daniel the Denim Doctor