Risk tolerance in entrepreneurship

[Starmix]

As an entrepreneur, he must possess an impartial personality. He must have a broad mind , strong heart and disposition to be able to fight obstacles and can tolerate risks that may suddenly appear in his business. Risk tolerance is a fundamental concept that pertains to an entrepreneur’s disposition and capacity to accept and manage risks associated with starting and running a business venture. It embodies in the persistence of the entrepreneur to undertake uncertainty and possible loss while pursuing entrepreneurial goals and opportunities. These are factors to consider in the threshold of his undertaking and miscalculating risks. It is thereby assumed that there are strategies an entrepreneur prepared to combat risks.

 

[Abdulrahman]

Successful entrepreneurship requires a balanced risk tolerance—embracing calculated risks, learning from failures, and adapting to uncertainty. It's about strategic decision-making, resilience, and seizing opportunities for growth.

 

[Starmix]

It's of the best interest of an entrepreneur to be risk - free but impossible especially if the risk is originated from nature like storm, flood or earthquake. No one can evade these risks that play havoc to business.

 

[eLdavis]

Entrepreneurs are risk takers, they tend to make and take decisions others may not be willing to, in other words they are also quick thinkers.

 

[Starmix]

You can't become an entrepreneur without surpassing risks. There are extreme risks like debtors that never pay on time. Sudden change of prices is also risky especially if your limit isn't capable to manage the change of prices of the products or goods. There are also unknown risks that need preparation like additional capital.

 

[Augusta]

Risk tolerance in entrepreneurship is very important. it's a crucial factor in entrepreneurial decision-making, as it influences how entrepreneurs approach risk identification, evaluation, and management.

 

[Starmix]

It's essential to have risk tolerance to avoid giving up or experiencing losses. Your intention is to grow your money- making venture, so face whatever risk that may come your way and win it.