The Safe Way Of Taking Risks As An Entrepreneur - Final Part

about 3 years ago

Good day everyone! This is the Final Part of this interesting, informative and educative series, titled, The Safe Way Of Taking Risks As An Entrepreneur. If you have not read the Part 1, Part 2 and Part 3, I advice you to read it before going on with this article, by clicking here for Part 1, here for Part 2 and here for Part 3. We should always try as much as possible to take safe risks because our future depends on the risks we are taking now. In this article, I will be sharing with you all, one solid way to ensure that you will be able to take safe risk in your business.

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Think Long-Term Results

This is one of the most lucrative ways to take a safe risk. If you are a business person and you start a business and expect profits immediately, you won't be able to continue that and you will make loss. Reason why you won't be able to continue the business, is because, you expect instant profits and once you are not seeing it, you will feel as though you have made a wrong decision, starting that business, hence, you will want to stop the business immediately, so as to save the remaining capital you still have left. Stopping the business in such manner will make you have quite a huge loss, since the money used to start the business and buy some materials for the business have not been recovered. This is similar to what happens to a lot of us, in the crypto space. I guess some of you reading this article, already have some sad stories about not having long term insights.

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I know so many people who would have been millionaires if only they thought about the long term results. I'm new to crypto, I don't have much sad stories, although I have my own sad story. I love buying coins at their peak, I don't know if the market knows when I buy 😂. Because as soon as I buy, the coins will start dipping. I bought doge coin at $0.43 and it went to $0.45 and started dipping ever since. But I have learned from my previous mistakes, because on a normal situation, I would have sold. But I'm not doing that again, because anytime I sell, the coin begins to pump. So this time around, I'm hodling till it gets to at least $1. When doing any business or investment, always think of the long term results. Imagine, early adopters of BTC who sold their BTC at $100 or $500, though they made their profits but imagine if they had hodl. They would have been multi-millionaires in dollars. Any business or investment that will give you huge returns in short-term, such business or investments are very risky and not very advisable to start. Take safer risk by thinking of the long-term results of the business or investment.

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I hope you found this article quite interesting, educative and informative, if so, do well to leave your thoughts in the comment section below. Thanks for reading.