Success Unfiltered Podcast

business risk

Are you all-in with your business? When you are all-in, you’re willing to take a business risk because you know that those risks are how you’re going to grow your business!

You won’t see success without taking chances! When I was with FITzee Foods, I took a lot of business risk. 

Those risks were huge:

  • Financial risks
  • Relationship risks
  • Reputation risks

I was willing to take those risks because I was all-in with my business. I knew that I had what it would take to succeed, and I believed in myself. I was willing to take any business risk necessary because I knew that I would be able to do what I needed to do to achieve my goals.

Because I took risks, FITzee Foods ended up in the Vitamin Shoppe. Risks have led to more than 140 episodes of this podcast. Choosing to take a business risk has led to me connecting with 7 and 8 figure entrepreneurs. I have taken risks and reached out to high-level entrepreneurs to be guests on this show: fear of the unknown could have made me choose not to reach out. What if they said NO? 

I said YES to any danger that might occur from choices. I chose to be all-in! At worst, what if they said NO? What did I have to lose?

Success didn’t just happen by accident. It happened because I was willing to take business risks, gamble my risks, and those risks paid off!

This week’s guest on Success Unfiltered, David Zamarin, started his own business when he was only a sophomore in high school. As he built his company, he found that everyone had a different idea of what he should do, and how he should run his business. When David said NO to listening to others and letting them tell him what to do, he was able to be all-in, gamble his risks, and live with uncertainty that ended up paying off!!

You’ve got to be all-in with business: you can’t be one foot in, and one foot out. So what are some ways that you can take a business risk and be ALL IN? Keep reading!

Know Your Strengths

Do you know what you’re good at? People in business will try to tell you what to do, and who to be. They will try to make you fit into their ideas of what your business should be!

Instead, you should say NO, and make choices based on what you’re good at.

When David Zamarin approached others to get their advice and input on his business, he was told what to do.

He should outsource the products … He should focus on marketing … He should change his business. Something different!

At the end of the day, David had to say NO to others who were trying to tell him what to do, and how to run his business. He knew that his product was the most valuable part of his business, and what he should focus on.

He knew what he was good at, and chose to focus on that instead. NO one can tell you what your business should be. 

When you know your strengths and focus on those, you can take calculated business risk. You know that you have the skills to accomplish the tasks, or serve your clients. 

In fact, knowing your strengths helps mitigate some of the opportunities that arise and will allow you to take more chances. Your sweet spot means that you’re actually taking less of a risk!

Is Being Different a Business Risk?

One of the best things that you can do is be different from others and what they have to offer.

David realized how different he was when he started his business in high school. In college, as his friends were partying, he found himself interviewing potential c-suite executives for his company.

He knew that he was different, and embraced that. Would he ever be a partier? NO! He chose not to put his focus there.

It’s okay to be different: in fact, that’s what will set you apart! When it comes to investing in your business and succeeding, being different is what can make investors and customers say YES, and choose you!

Your product or service may be unlike anything people have ever seen before, and that is okay! Choosing to be different may be a gamble: what if people say NO to you or your service? 

But what if they say YES? What if they see that you offer something completely unique, something that isn’t already on the market? What if they see that you’re serving a new niche? Being different from anything out there is a great business risk: but it can pay off!

Risk May Lead to Bigger Growth

Have you ever watched a baby learn how to walk?

It takes a first wobbly step, and starts to gain confidence. Babies don’t start out running; they start with one small, wobbly step at a time. 

Being an entrepreneur feels like a baby learning how to walk sometimes. You start out with smaller risks: maybe you choose a business name, or get your first client.

Then, you feel the thrill of success, and take some bigger chances. Maybe you hear a NO and get knocked off your feet, or maybe it’s a huge empowering YES! You learn and grow by taking these risks and learning and growing.

When you say YES to a business risk, and dive in, you stretch yourself and grow. In fact, you could argue that you cannot grow if you don’t take those risks. 

In Conclusion

Are you all-in with your business? Or are you one foot in and one foot out? What are some risks that you’ve been avoiding that may actually be the answer to your business woes? Tell us ALL ABOUT a business risk in the comments!

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