You are very correct with the assessment of calculated risk. This is because it is the only way you are going to get into risks that are worth taking in a way that they are going to end up being a positive risk for your business.
Would you put all of your savings into starting a business?
- Thread starter Grant
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You are very correct with the assessment of calculated risk. This is because it is the only way you are going to get into risks that are worth taking in a way that they are going to end up being a positive risk for your business.
Yeah, it is always very important to take risks that have high probability of success. That is what we call calculated risk. Some people always take some kind of risks that is not calculated and they end up losing their money.
This kind of risks is very ideal to be taken when you are still young and doesn't have a responsibility. That's because no one would be affected of the risk goes south. But if you have a family, you can't take such risks. Then, I was living with my parents and was eating and taking care of myself from them. I could afford to risk all.
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That's true, when you are still single it is important for you to take some certain risks so that you'll be able to learn some lessons. If the risk goes well you will make a whole lot of money from it.
That's why it is good to start working on sertt up your business early. At that age, you can afford to take all the risks you need to take. When you are advanced, it genuinely becomes very difficult to take risks like putting all your savings to start a business.
This is exactly what I am trying to do. I think when I get the necessary capital I will give most of my business ideas a shot. I can afford to make mistakes and correct them now.
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business have to do with gain or lose,so it is not advisable to go into a business with all your savings, anything can happen, expecially for new beginners, who are just new in the market .
I can't use all my saving to start a business. It's a risky thing to do. You can't be so sure that your business will start bringing profit the very moment you start it, even a year after you start it. If you now use all saving to start a business and the business fail, what would happen to you?
Risks are better taken when you don't have dependents. As a young guy, you can decide to take all the financial risks available to build a better life for yourself. If your risks fail, it would affect only you and you can weather it.
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This is one of the reason why some people find it very difficult to survive the challenges that faced them in their business because they are not well calculated when it comes to taking risks that are capable of destroying their business.
That's true, I've actually taking some risks that ended up not being successful and I was able to recover. But if I had a lot of people that depends on me that could have been a different ball game.
Starting a business with all your savings is very dangerous most especially when you are not sure with the business outcome , that's whey you need a reserve fund just in case .
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Actually I think put up all your savings into a new start up business, will be a very bad idea.
The best thing to do is to used some portion of the income or savings to invest and some of the portion for management.
Actually it will be a very bad idea to invest all your resources or income into a new business because it has alot of effect which may affect your financial status forever most especially if the business couldn't worked out well.
The best thing to do is to used some portion of the income or savings to invest and some of the portion for management.
Actually it will be a very bad idea to invest all your resources or income into a new business because it has alot of effect which may affect your financial status forever most especially if the business couldn't worked out well.
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It's risky putting all your savinğ into a business because most of the time , the business might be financially unstable for sometime , you will have a money in your reserve fund just in case .
No, and it's a terrible idea because not all businesses are successful, and you can easily fail without much experience; there can be an emergency, and if you put all of your savings into starting a business, you will be left with nothing. If you really want to start a business, then put half of your savings or less, depending on how much you have, or save some more. It's a very dumb decision because a lot can happen.
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It's good to save your money towards a project and not leaving it in your safe or bank account. It's not all person who are interested in investing in stocks etc and it's not all who are interested in starting up a new business. Not all have the mind of being an entrepreneur. I will have all my saving invested in starting a new business.
I think that this depends entirely on the business and the ratio of gaining success while conducting the business. I would never invest all of my savings in a business without testing it prior to making an investment. This is quite important because testing business strategies is the key to gaining success before you invest huge amount of cash.
This is the reason why it is very important for you to have a plan B or a back-up plan in any kind of business that you're doing so that should anything go wrong with your business, you are definitely going to have something to fall back on and use it to revive the business all over again.
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Of course, this is a bad idea, but in my opinion, when you start a business, you need to risk everything you have, because if you don't risk, you won't get what you want. But you also need to take risks wisely so as not to end up on the street.
When there's a very good business plan to work on, there's no need leaving all your money in the bank account. Banks would keep using your money for their work business. You can leave about $5 of your savings in bank for other money needs and use the rest for your business.
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