The Importance of Adventure in Entrepreneurship
Should I take the plunge? What if I fail? What will people think of me? These are all questions that plague anyone considering an entrepreneurial path.
I have been thinking about the role of risk and adventure in enterprise while reading Richard Branson's book Losing My Virginity: How I've Survived, Had Fun, and Made a Fortune Doing Business my Way. Its got me thinking a few things:
- Richard Branson is absolutely nuts and I love it
- I need to go on more adventures
- Taking risks (or adventures) in business is very important
Virgin has been one giant adventure from start to finish. Many of its successes and failures can ultimately be traced to some adventure Richard wanted to go on. The most famous example of this was when he decided to give the airline business a go. His investors, managers and everyone else thought he was absolutely crazy, but he did it anyway. He succeeding in turning his small label and music retail business into a major international airline and ultimately building the enduring, much loved brand Virgin.
What caused him to take the jump and why did he ultimately succeed?
- He was passionate about the opportunity
- He was well aware of the risks, but equally aware of the potential reward
- He gave it his all
- Most importantly, the (ad)venture became just as much a part of him as anything else. In other words, it became personal.
My takeaway: don't be afraid to take risks and when you do be sure to put yourself fully behind your decisions. The day that you get comfortable is the day that you and your company stop growing. And while you're at it, have some fun!
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