Former Scientist » Myths http://formerscientist.com Scientists Embracing Entrepreneurship Tue, 09 Feb 2010 21:45:08 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Risk-taker Myth http://formerscientist.com/2010/01/16/risk-taker-myth/ http://formerscientist.com/2010/01/16/risk-taker-myth/#comments Sat, 16 Jan 2010 15:34:39 +0000 Neale http://formerscientist.com/?p=171 Malcolm Gladwell supports my claim that entrepreneurs as risk-takers is nothing more than a myth. I know you are independent in your thoughts, pride yourself in you analytical ability, and do not need an “authority” like me or Malcolm Gladwell to spell this out for you.

However, it is interesting to ponder the point. John Tozzi at BusinessWeek discusses the issue further. Click here to view the post.

After reading the post, I found Bruce Philip’s comment to be valuable.

The simplistic risk bad/risk good debate is something that could only be conducted between people who have never run a business. The truth is that risk is algorithmic. An entrepreneur takes the ones that are strategic, manageable and attach to disproportionately positive results. He avoids risks that are non-strategic, and/or unmanageable, and/or never going to produce results that justify them. My own business has enjoyed 14 healthy years, and this is partly owed not to risk taking or to risk avoidance, but to being conscientious about risk.

Does this support my position on “fail fast, fail cheap”?

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