Small Business Focus

How to take calculated risks (as opposed to simply being reckless)

The Money Show’s Bruce Whitfield interviewed Aurik Business Incubator Director and CEO Pavlo Phitidis for the weekly “Small Business Focus” feature.

Phitidis discussed risk taking, the difference between a risk and a measured risk as well as what sets them apart.

Scroll down for quotes from the audio below.

You can’t live life without taking risks!

Pavlo Phitids, Aurik Business Incubator

There are calculable risks and there are ambiguous risks.

Pavlo Phitids, Aurik Business Incubator

Even the risk of losing everything can be manageable.

Pavlo Phitids, Aurik Business Incubator

Over time your knowledge deepens and you’re more likely to take better decisions.

Pavlo Phitids, Aurik Business Incubator

Good entrepreneurs only focus on the downside. And the focus is on capping that downside.

Pavlo Phitids, Aurik Business Incubator

If you’re optimistic and passionate; how far will you go before you realise it’s not a great decision?

Pavlo Phitids, Aurik Business Incubator

How much are you prepared to lose? That’s the first question you must get right.

Pavlo Phitids, Aurik Business Incubator

If you’re clear on why you’re taking a risk – and things don’t work out – you’ll have the wisdom to make smart decisions in the present.

Pavlo Phitids, Aurik Business Incubator

You must think about what it will take for your decision to work.

Pavlo Phitids, Aurik Business Incubator

Aristotle said ‘Know thyself!’ The better you know yourself the better decisions you’ll take.

Pavlo Phitids, Aurik Business Incubator

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
'How we do business here is very different to how they do business there'

'How we do business here is very different to how they do business there'

Aurik Business Accelerator’s Pavlo Phitidis reports back from the "mind blowing" three-day GrowCo conference in New Orleans.

How to start your own business (by a guy who started his with almost no money)

How to start your own business (by a guy who started his with almost no money)

The Money Show’s Bruce Whitfield interviews NicHarry founder Nic Haralambous.

How to turn a hobby into the business of your dreams

How to turn a hobby into the business of your dreams

Small business guru Pavlo Phitidis gives advice to a listener who has an opportunity to turn a tiny business into a massive one.

Family business succession - what often goes wrong (and how to get it right)

Family business succession - what often goes wrong (and how to get it right)

Mind the generation gap! The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

How to break a deal without scorching the earth

How to break a deal without scorching the earth

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

'We’re gatvol! Government must fulfil what it has been promising since 1995'

'We’re gatvol! Government must fulfil what it has been promising since 1995'

Bruce Whitfield interviews Jennifer Cohen (Small Business Institute) and Aurik Business Accelerator’s Pavlo Phitidis.

Popular articles
Why the PAC wants South Africa renamed Azania

Why the PAC wants South Africa renamed Azania

Pan Africanist Congress's Narius Moloto explains why it supports the name Azania, a word which he says has Arabic origins.

Is the lovable Winnie The Pooh a boy or girl?

Is the lovable Winnie The Pooh a boy or girl?

A trending Twitter debate has left social media users arguing over whether Winnie the Pooh is a girl or boy.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

Douw Steyn is one of Africa’s richest (yet you may not have heard of him)

Douw Steyn is one of Africa’s richest (yet you may not have heard of him)

Bruce Whitfield interviews Forbes Africa's Chris Bishop to find out more about this lesser known South African billionaire.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?