Christoph Grizzard Reviews the Importance of Taking Risks
All businesses want to be successful, but are they too satisfied with being moderately successful, when they could be aiming for bigger and better things? A recent report in The Telegraph, looked at whether small to medium enterprises in the UK were too risk-averse, and whether this was affecting their chances of success on a global scale. Here, Christoph Grizzard reviews this report, and looks at what can be achieved by taking risks.
“No business wants to fail, but a fear of failure could be limiting their chances of success”, said public speaker and entrepreneur Christoph Grizzard. “Anything worth doing in life has an element of risk to it. It’s important for business owners to realise that failure isn’t the end game, it can be another stepping stone on the road to success. In that way they can learn to embrace risk, without being reckless.”
The report is based upon an interview with business leader Jim Houghton. He states that SMEs in the United Kingdom are happy to be mediocre. They are happy to grow their business above inflation, and have a profit margin of between 10 and 15%. There are greater profits and growth waiting to be won by bold and adventurous companies, but that would involve taking more risk and too many businesses are not prepared to do that. In an increasingly globalised world, that leaves UK businesses at risk of being left behind by companies from Asia and the United States, who are not afraid of taking risks.
Jim Houghton believes that a change of philosophy is needed by our SMEs. In this country, failure is a stigma that’s to be avoided at all costs. In Asia and the US however, failure is seen as acceptable if it’s resulted from an attempt to gain the big prize. He gives the fact that many British businesses sell to the first buyer, as soon as they become big enough, as another example of risk avoidance. Selling a business in Asia is seen as defeat, and not to be countenanced.
“Jim raises a lot of very pertinent points, for without aiming high, the big prizes will always be out of reach”, said Christoph Grizzard. “He also stresses that being prepared is different to being rash. Proper risk assessments must be carried out, but then a business has to be prepared to push itself and take a risk.”
Christoph Grizzard is in high demand as a public speaker, and can teach businesses of all sizes how learning to take risks can lead to a more successful future.
- Previous Christoph Grizzard Reviews the Power of Motivation
- Next Christoph Grizzard Reviews the Importance of the Intranet
You may also like...
Sorry - Comments are closed