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3. Risks Lead to Rewards

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Business owners that profit the most are usually those who take the largest risks and are willing to accept failure. Most small businesses that grow to become large companies started with an idea or product that was unusual and had owners that took a risk.

In 1978, two small-business owners started a homemade ice cream shop after taking a $5 ice cream making correspondence course from Penn State University. They were able to start their business with $12,000 and somehow were even able to borrow $4,000 of that money. Many people would not have invested in such an unorthodox business, especially with two owners that were obviously building it in an unusual way. However, the company turned into one of the most well known names in ice cream: Ben & Jerry’s.[1]

There are many success stories like this throughout large companies and they all trace their roots back to entrepreneurs that were willing to take a chance, make mistakes, and learn from their experiences. It is impossible for any owner to grow his or her business, try new things, and never fail.

19 Ways to Survive in a Tough Economy

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