Entrepreneurship is not about risk, it’s about wrestling with uncertainty
There is a common misconception that entrepreneurs are risk-takers. There’s even a quote that says “Entrepreneurs jump and build a parachute on the way down.” That’s not entrepreneurial, that’s just plain stupid.
Great entrepreneurs don’t take bold risks, they make calculated bets. A better quote would be: Entrepreneurs jump not knowing if they’ll use a parachute, a hang-glider or something different entirely.”
In the first quote, if the parachute doesn’t work, the person dies. In the second quote, if the parachute doesn’t work, the hang-glider might, and if that doesn’t work, something else will save him.
There’s a massive difference between taking risks and wrestling with uncertainty. Risk implies that you’re not sure if it’s going to happen. Uncertainty implies that you’re not sure how it’s going to happen. Most people hate uncertainty. Thus, entrepreneurship is scarce.
Entrepreneurs don’t start something and decide on the tactics (parachutes) on day one. They start something and decide on the vision (landing safely) and figure out how to get there using the best method possible.
It’s tough not knowing how you’ll make it there, but don’t let that stop you from having the vision to try.
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