Coach Bruce Arians, of the Arizona Cardinals, is fond of saying; “No risk it, no biscuit.” The coach has even had the expression trademarked. While the phrase has great application in sports, it also is at the very core of entrepreneurship. Few business owners or founders have ventured into unchartered waters without being risk takers. It’s a hallmark of those who take this path.
Unlike those who might buy stock in a new company or bet on a horse at the racetrack, the risk that most entrepreneurs take is more measured and calculated. Oftentimes, it is the realization that there is a need in the market that is not being met. Other times, they see an opportunity to offer more competitive pricing than what already exists.
The notion that these entrepreneurs could simply deliver a better product was a recurring theme when TechNation asked several successful company founders how and why they decided to make the move and become self-employed.