ENTREPRENEURSHIP / MAY. 04, 2015
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5 Reasons Why Playing Safe Can Kill a Startup Business

There is a certain amount of risk in ANYTHING new. Whether you’re starting a new relationship, taking up a new hobby or even trying a new haircut, the new and unknown always carries a good deal of risk. It’s all about managing and being smart with the risks you take.

But did you know that being too risk-averse can lead to problems, too? Playing it safe can be just as dangerous as taking unnecessary risks, especially when it comes to startup business. Why is this?

See Also: Top 5 Costly Mistakes During a Business Startup

1. Playing it Safe = Mediocrity

How many companies became hugely successful by doing ONLY what they knew was guaranteed to succeed? How many of today’s millionaires and billionaires earned their fortunes by playing it safe? If you play it safe, you are just going along with the flow. You’ll never truly make your mark on the world by blending in with the crowd!

2. You Miss Golden Opportunities

You know the old saying, "Nothing ventured, nothing gained"? It is 100% true in the world of business and startups. If you are always trying to play it safe and avoid risks, you’ll often end up missing out on perfect opportunities simply because you were too shortsighted to see them for what they really are. Risk is vital for the success of a startup simply because business opportunities are never safe, but they can be your "golden ticket"!

3. You'll Never Learn

There is no 100% success rate in any industry or field, and you’re guaranteed to make mistakes. It’s all about learning from your mistakes and using them to grow. But if you don’t take risks, you’ll end up making the kind of mistakes you can’t come back from. Playing it safe will cause you to stagnate and become irrelevant, something that no amount of marketing or branding can help you to overcome. Taking risks may cost you money and clients, but it helps you to learn and grow. The same cannot be said for playing it safe!

4. Risk = Effort = Success

Success is NEVER going to just fall into your lap, but you have to make the effort to pursue it. The only way to pursue anything is to take a risk. If you play it safe, you’ll stay in your nice, comfortable environment, but you’ll never get anywhere. Only once you put yourself out there do you have any chance of success.

5. It Builds Fear

What are you doing when you play it safe? Simply put, you’re giving in to fear – fear of failure, fear of loss or fear of wasted time and effort. But the more you allow fear to rule your life, the greater your fears will grow and the more of your life they will dominate. Soon you will be one giant ball of fear, all because you tried to play it safe.

See Also: 7 Business Funding Mistakes Startups Should Avoid

Success in business isn’t achieved by taking foolish risks, but you do need to be prepared to take SOME risks if you want to get anywhere.

If you play it too safe, you could end up stagnating and going out of business far sooner than you would have had you gone crazy and took big risks!

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