Introduction to entrepreneurship/IENT101/Nature/Risk

Anyone thinking about starting a new business or venture of any kind needs to think about possible risks and reward.

There are two elements to risk assessment: The likelihood that the bad thing will happen and the impact if the bad thing does happen.

A reward is an incentive - it may be financial, but doesn't have to be. It could be positive feedback, customer loyalty, reputation, and so on.

Web resources

Read these two short articles to learn more about risk and reward:

• Here's why the risk-reward model works so well inc.com, 14 October 2015
• 4 examples of risks leading to reward entrepreneur.com, 21 March 2015

WEnote

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