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

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