Similar to the author, my observation is also that entrepreneurs are NOT risk takers. They are very much risk-averse. This is indeed a strange comment but as an entrepreneur, I differentiate between taking risk and mitigating ambiguity (or risk versus calculated risk).

I don’t gamble and I don’t play the lottery. I think doing so would be taking undue risk because I have absolutely no control of the outcome.

On the other hand, doing startup is not risk to me because I believe I can control the outcome. It is just that the outcome is somewhat ambiguous which I know how to mitigate.

I suppose if I take a step back, this is not unlike the difference between an amateur gambler and a professional gambler. If I know how to count cards, I won’t think that I am taking risk neither.

I have summarized my past experience as an entrepreneur in my book (in progress), http://www.startupforless.com, hoping to share successes and failures and encourage others to do the same.

Thanks for the article.

–Denny–

1. Where will they get funding from?
2. Effective marketing (corporate dollars vs. individual dollars)
3. Doing everything yourself. Everything.
4. Managing multiple systems; sales, marketing, administration, insurance, human resources, etc.

When a person starts a business, all of these variables are a complete puzzle. They don’t know how any of it will pan out. A risk? Absolutley!