Some of us need to know that there will be a pay-off at the end of whatever we are doing. We want to know FOR SURE that if we work really hard, or take calculated risks, that our businesses will be the better for it. Unfortunately, things don’t always work that way. We could have the most extensive budget and the most complete business plan to guide us, and we still don’t have a guarantee that things will turn out grandly.
This is the very reason that so many people never take the leap and start their own home-based businesses. That risk and lack of guarantee is just too much. They need more security and stability than a fledgling start-up business can offer. It reminds me of when I meet with my financial advisor periodically to go over my IRA—she will ask me what my “risk tolerance” is so that she can invest what little money I have for such things accordingly. The less risk I can tolerate, the more conservative the investing. The same can be said for risk tolerance and business—HOWEVER, in order to get a small home-based business off the ground, we have to have some risk tolerance and an ability to move forward even if we don’t have any guarantees.
If you consider yourself a more conservative sort, it doesn’t mean that you aren’t cut out to start and operate your own home business, you just might need to make some accommodations for your conservation. I know one person who kept her day job for a full year after starting a home-based business until she was absolutely sure the business would be a “go” before she let go of the safety net. Others build up a substantial savings, or find the least risky business venture they can in order to modify the risk. Of course, there are still no guarantees that all will go fabulously—but you can find a way to work with the ambiguity and find a healthy balance between your risk tolerance and the way you run your home business.
Also: How do We Know if We’re Doing Things Right?
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