Today we had an interesting discussion on risk and how different entrepreneurs assess and tolerate uncertainty. While entrepreneurs often operate in uncertain and ambiguous situations they normally look for ways to manage or reduce the risks they face. Also different entrepreneurs tolerate different levels of risk: Sebastian had the best quote of the day, “I am willing to risk everything I have, all my money, but no more.”
2 thoughts on “2012: One thing I learned at breakfast today”
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Feedback was a big part of our discussion. Gain customers’ or potential customers’ feedback as soon as possible to see if your business idea has a legitimate market. Then build a bare bones app and get more feedback. And “The Lean Startup” was a highly recommended book.