BY BRUCE ECKFELDT@BECKFELD, www.inc.com, April, 2021.
Taking risks is a natural part of being in business.
The key to dealing with risks in business is to make sure that you're balancing the downsides with the upsides. It's perfectly acceptable and even necessary to take risks to make big wins.
The challenge is that you can err both ways. You can fail to properly assess the downside of a particular decision and find yourself in trouble. You can also miss significant opportunities because you missed the upside.
Here are a few key steps you can take to better calculate the trade-offs in order to make better decisions over time.
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