Risk Return concept

Taking calculated risks

 Building a brand and building a business is all about taking risks. Knowing when and how to achieve optimal success is what risk taking is about. Risk taking is a fundamental sound to investing; investing in self, business growth and consumer growth too. Without risk, there could be no true return on investment; it is as simple as the law of supply and demand. Provide what people need, at the rate in which they need it, expand your business far beyond what you previously conceived it could do; there are many steps and avenues that make risk-taking rewarding…Calculate it.

             As an entrepreneur, a brand or a business owner it is imperative that risks are taken at a calculated rate. Focusing on how to maximize chances of being rewarded while minimizing the risks involved in any venture. Calculated risk-taking is the ability to deal with incomplete information; act on a risky opportunity and challenging but realistic goals. We often talk about consumer and audience outreach and the ability to expand a brand to gain new connections and relationships.

             In risk-taking, building and expanding services is part of the process. This is a reflection opportunity, researching what products and services do the best in your industry when brainstorming how to achieve growth. You may not always have the answers surrounding personalization, but making it relevant is a start. Build a detailed description for an ideal client, look at the target needs of other potential customers, creating a marketing strategy that builds brand awareness and reaches the audience in which you intend to provide new sources for. 

Calculated risk taking requires aspects of providing new products, researching and trying to acquire new consumer markets. Scaling comes in a form that makes each interaction unique and relevant to your community and customer engagement. Personalization is a risk worth taking because it allows you to commit to relationship building at a new level; it requires you to bridge into the realm of business development that is not always successful, but is necessary for company growth. Change does not exist without calculated risk, untrain yourself from doing what you did at the beginning, but especially as you learn, reteach yourself new techniques and exercise your freedom for thought and action. Nothing worth having comes easy, but nothing worth keeping comes without work.

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