Please enable JavaScript.
Coggle requires JavaScript to display documents.
Risk and reward - Coggle Diagram
Risk and reward
rewards of entrepreneurs have when starting / owning a business
Dissatisfaction with their current job
many entrepreneurs have had full time jobs in the past but haven't enjoyed them so they went to pursue there own ideas
Financial reward
if your business suceeds then you will be able to make a large profit
So you could sell you business for a lot more in the future
pursue an interest
some entrepreneurs start businesses just to pursue an interest or something that they are passionate at
be their own boss
creating your own business means that you work for yourself an no one else.
more flexible working hours and more choice over what work you do
risks that entrepreneurs have when starting new businesses
financial loss
starting a business requires a lot of investments. So if the business failed it would theoretically mean a large financial loss for the entrepreneur
risk of failure
starting a new company is very risky as it is likely to fail in its early days.
there is a risk of the customers not liking the product especially if it is an original idea
lack of security
when entrepreneurs start a business they lose the lack of security that they would have had at there old job like their wage meaning they are not guaranteed a set amount of money
risk
a risk is a chance that you can take which can have a negative outcome
Starting a business is a risk because you are not guaranteed success
reward
something that you gain from creating a business
if your business succeeds then you are given a reward which could be emotional or financial
calculated risk
a calculated risk is when you figure out the percentage / chance of a bad or good outcome