Too often, budding entrepreneurs plan carefully, work hard and execute their dreams – only to find a variety of obstacles limiting their progress. For many, this can be discouraging even if the business or idea itself is sustainable and growing. There is nothing like the feeling of a fresh, big idea taking the world by storm: real life, unfortunately, has a habit of tampering down both enthusiasm and expectations. Recently, Three S&R Consulting CEO Sonali Nandwani spoke to a group of young entrepreneurs about the importance of dreaming big and taking risks in the face of abundant safety.
One of the biggest concepts in the mind of Sonali Nandwani that entrepreneurs must consider is that risk is often the only way to reward. “Many of you have already taken the first steps to become successful entrepreneurs, which obviously took some risk to accomplish”, she said. Elaborating more on the subject, she mentioned that “unfortunately, many take that initial risk, see that the investment pans out, and then settle into basic routines from there on out”. Many new entrepreneurs are too afraid to take additional risks once they’ve established a viable platform for business, but this results in opportunities being missed.
According to Sonali Nandwani, one of the best books for young entrepreneurs to read on the subject is entitled ‘When to Jump: If The Job You Have Isn’t the Life You Want’. This book covers key points that are vital not just for entrepreneurs, but for anybody who feels as if their current trajectory isn’t ideal. Three S&R Consulting often assists clients in determining new courses of action with respect to expansion and growth, all of which involve risk taking.
“Even those who followed their dreams and passions can become worn down over time by the mundane tasks of entrepreneurship”, Sonali Nandwani explained. “It is at times like these that new plans and risk-taking make the most sense”. She explained to the group that young entrepreneurs, in particular, have more room in which to experiment, due to having more time statistically-speaking in which to find success. However, it was cautioned that fool-hardy risks do not count as sound decision-making and that a variety of evaluations (such as those conducted by Three S&R Consulting when collaborating with clients on new projects) must first be conducted before deciding whether or not to take on new risk.
Three S&R Consulting understands the pressure businesses face in maintaining profitability and pursuing risks and will continue to advise its broad portfolio of clients on the best strategies for their specific needs.