Avoid unnecessary risks

[Oliver4smile]

It is true that business and life by their nature are risky. But I still believe that there are some of the risks that are unnecessary in every business that need to be avoided. We all know that business that creates a dynamic and flexible risk management strategy has a better understanding of their commercial environment and are subsequently likely to be more successful and profitable. Waking up in the morning to start up a business without adequate planning is considered as one of the unnecessary risks.

Too many risks can kill business, truly there are some risks that are worth it and can be profitable on the long run but as you stated there are risks that should be avoided if the business owner truly want the business to flourish.

 

[McIrx]

As much as this thread is about unnecessary risk I'll like to dwell more on what I refer to as "uncalculated risk." We are meant to take risks but when it is unplanned and uncalculated it becomes stupidity. Not having a second thought before taking a risk is a sure way to damnation.

 

[Setho]

They say that business is all about risk but then it is very important that you should define your kind of risk and make sure that the one that you are going into is one that is what it and necessary.

 

[Ruth]

There are some business risks that are simply unavoidable, when they come we should just try to manage it. But when it comes to taking unnecessary risks in your business, we should definitely do our best to avoid that.

 

[Abigael]

There are some business risks that are simply unavoidable, when they come we should just try to manage it. But when it comes to taking unnecessary risks in your business, we should definitely do our best to avoid that.

Yeah, some risks just come up in every business. But that should not be the end of it. There are things you can do in order to manage the risks that have occurred. It starts with knowing the causes, measure the amount of damage done then research to know what you can do to reduce the effects.

 

[Sotherefore]

Unnecessary risks are the type of risks that could have been avoided an example could be borrowing money to start of something .it is better to work with the little money and raise more required money that is necessary.

 

[tyrim88]

Taking some risks especially when it relates to business is of no need and will mean that such person will lose out, if not careful. I try to take calculated risk always as this is one way that you can be sure that you are doing what is right and good even if you have obstacles on the way.

some risk in business are really not wort taking.A business person that knows that chances of convincing a potential customers to patronise his new products in the market that falls short of what is already in the market,and still goes ahead to invest heavily in the production line,that is an invitation to failure.

 

[Justin]

It is really difficult to categorize risks, therefore, there is no such thing as unnecessary risk. If you are in business, there is risk. You may see something unnecessary, which will be viewed as necessary by the owner.

 

[Abigael]

It is really difficult to categorize risks, therefore, there is no such thing as unnecessary risk. If you are in business, there is risk. You may see something unnecessary, which will be viewed as necessary by the owner.

That is right. Risks happen in business, sometimes without a plan. So you cannot really tell before what an unnecessary risk is. But you should take your time and know how to handle risks as they come up or as you anticipate them.

 

[eLdavis]

That is right. Risks happen in business, sometimes without a plan. So you cannot really tell before what an unnecessary risk is. But you should take your time and know how to handle risks as they come up or as you anticipate them.

True, there are certain times you might not be able to determine the amount of risk involved in a particular business, but at the same time you can still practice risk management to some extent. Let's s say when starting a business, you can invest just a little, start small and see how the business goes first before you invest much. Always invest what you are okay with loosing

 

[Solutionav]

It is true that business and life by their nature are risky. But I still believe that there are some of the risks that are unnecessary in every business that need to be avoided. We all know that business that creates a dynamic and flexible risk management strategy has a better understanding of their commercial environment and are subsequently likely to be more successful and profitable. Waking up in the morning to start up a business without adequate planning is considered as one of the unnecessary risks.

We all know that life is a risk and there is no business that does not require taking a risk, but you must make such you take calculative risk so that the result will be a better one.

 

[Essy]

Life is a risk so we're bound to take a lot of risk, but we should adjust our thinking to making or taking risk that would actually yield profit in future, based on research due to the high number of scam out there.

 

[Kelly5]

Risk taking for your businesses are a good thing because without any risk the will not be any reward for your business efforts. But these risks has to be very calculated ones

 

[Justin]

You need to address bigger risks first. By doing that you will be able to avoid major loss. Remember, Small risks need small attention and bigger risks need bigger attention.

 

[Innocent Jeremoth]

In a difficult environment, your financial tolerance for risk can be higher than your emotional tolerance. Yet, it is your financial tolerance that should govern your allocations, especially if you have a long investing time horizon. Simply put, the longer the time period before you need the money, the bigger the threat inflation becomes and greater the need to include stocks in your portfolio. If you are really nervous, cut back on your allocation to stocks a little and rebalance your portfolio when your allocations drift off target by five percentage points or more.

 

[eLdavis]

Risk taking for your businesses are a good thing because without any risk the will not be any reward for your business efforts. But these risks has to be very calculated ones

That's true, cause without risk you would not be able to excel in your business. Any decision or choice made is a risk on its own right. But that does not mean you would start making any decision you feel or go into any business without any form of understanding of the business. You should also practice risk management as well

 

[Stnicholaz]

I have learnt in hard to not take unnecessary risk. I have loss lots lot of money and it too me time before I could able to get back to my feet. I try my best to cross-check any investment or opportunity before put my money.

 

[Immilash]

Well stated, business is a risk, but you can make them not to be risky in the sense that you plan better to avoid unnecessary risk, plans are the best way to handle a many things including risk.

 

[Kane]

You never know whether the risk is necessary or unnecessary until the risk will give you results (favorable or unfavorable results). If the risk you have taken yield favorable results, it can be termed necessary risk.

 

[Kvngsammy]

True but there's no way one wouldn't take risks. Some unforeseen circumstances could in fact occur and those can also be termed risks in another light.
Being overcautious most times wouldn't lead to success.