Many people are afraid of risk. That fear has driven many to avoid looking outside of their comfort zone for new adventures, new businesses or new relationships. Tom Panaggio writes a lot about risk and taking risks in his new book, The Risk Advantage: Embracing the Entrepreneur’s Unexpected Edge.
He writes, “Most of the time when people talk about business and risk, the focus is on how to avoid it. To me, risk isn’t negative; the spirit of risk has driven me, and my partners, to start and grow several businesses. And businesses that thrive have leadership that takes risks throughout the life of the enterprise.”
He goes on to describe how creativity, innovation, and economic power of small businesses are needed in America. Being entrepreneurial means having a spirit that is “a powerful motivational force” that can make people attempt and achieve amazing things.
The three main risks he describes are time, money and other opportunities. Small business owners risk their own invested money, they risk losing time with their family and they risk other career opportunities that may come about while building their own business.
The author suggests that the level of personal commitment from the entrepreneur separates dreamers and planners from success. Opportunity and risk are linked, forever, Panaggio writes.
Panaggio poses a question, “Are you a chicken or a pig?” He goes onto explain how one of his business partners had a habit of asking this question.
To answer the question the partner suggests, “Think about a bacon and egg breakfast. The chicken is involved but the pig is committed.” He also writes about a really cute but powerful story of a forbidden romance between risk and opportunity. It’s a romance that takes hard work by surprise.
This is a standout book. The author provides a different perspective about risk, opportunity, hard work and what it really takes to succeed in business and in life. He writes about topics such as well wishers and doomsayers, having no endpoints, decision making, gut calls, fear of change, clarity versus certainty and the winner’s mindset.
Owning one’s own business has long been the true American dream. While building and running a successful company is one of the most enjoyable things in life, it is a lot of hard work and has a lot of ups and downs on the way to success.
This book puts being successful into a realistic realm. The book is worth the read. It will either convince readers to take the risk or to not take the risk. Either way, it can help save readers the time and money. For those that choose not to take entrepreneurial route, the book may save those readers the risk of losing out on other career opportunities.
Panaggio is described in the book as having “enjoyed a thirty-year entrepreneurial career.” He has cofounded two direct marketing companies. In 1983 he cofounded Direct Mail Express (DME) and he is the CEO of a spinoff of company, RME that was started in 1995.
The author writes that when he decided to write a book about risk, it was a decision that came with risk. He writes about taking the risk, “I knew that my experience in building a business success story contained valuable information and needed to be shared with others: a classic case of “If I can do it, so can you.””
Panaggio starts his new book off with a story of his driving a racecar in at the Sebring International Raceway. It appears he takes risks in other areas of his life other than in his business and career.Powered by Sidelines