It is not a secret that most businesses fail within two years of their launch. While this is a terrifying fact, it shouldn't scare you out of the entrepreneurial path. The reality of entrepreneurship is that it is a long and hard road. In order to succeed, you must understand that what you are doing might endanger the business yet also has the possibility of scaling it. Oliver Seidler explains that risk is a necessary ingredient to succeed in every entrepreneur's journey.
This does not mean you should jump into business without proper preparation. Taking risks requires a healthy amount of calculation, not blind faith. From personal experience, Oliver Seidler explains that without moments of uncertainty, businesses stagnate and eventually fail. Seidler is an entrepreneur who has pursued his passion religiously. He founded Property Force, which he has grown as CEO and is now transitioning into a chairman position.
Thinking back to when he first stepped into the entrepreneurial scene, Seidler explains that learning how to adapt to varying situations is critical for survival. His long career has brought countless challenges that he has toughed through to get to where he is. Now, he hopes to focus on helping young entrepreneurs understand the business scene, especially when it comes to taking risks.
Having a risk appetite is critical to your success, says Seidler. You learn from moments of uncertainty. While some might not pay off, they leave you with valuable lessons for the next stage of your business. Seidler says that failure teaches you to strategize better to avoid falling into the same pitfalls next time. With business, you will never know unless you try, and that's where risk comes in. If you play it safe in business, you will never get anywhere. Therefore, apply a healthy amount of risk to your business in order to jump to the next level, says Seidler.
Oliver Seidler strongly believes that nothing great was ever achieved without willingnes to compromise some part of your business. Opportunities and innovation are all tied to risk. Therefore, you need to put your ideas into practice, take the shot and see how it goes. That is the only way your business can grow.
To become a successful entrepreneur, you need to have the courage to make the hard choices.