9,99 €
Mehr erfahren.
- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of Bob Reiss' book: "Low Risk, High Reward: Starting and Growing Your Business with Minimal Risk".
This complete summary of the ideas from Bob Reiss' book "Low Risk, High Reward" shows that, contrary to popular belief, most entrepreneurs don't welcome risk. In fact, they use a number of techniques to ensure risk is minimised and prefer to acknowledge and handle risk, rather than ignore it. In his book, the author presents some of the ways in which everyone can lower risk, without compromising product, quality or dreams. This summary is a must-read for every entrepreneur who wants to start making low risk, high reward decisions in their company.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your business knowledge
To learn more, read "Low Risk, High Reward" and find out how you can minimise risks and reap the rewards.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 36
Veröffentlichungsjahr: 2014
Ähnliche
Book PresentationLow Risk, High Reward by Bob Reiss1
Book Abstract
About the Author
Important Note About This Ebook
Summary of Low Risk, High Reward (Bob Reiss)4
Section 1: The Low-Risk Entrepreneurial Mindset
Section 2: Practical And Essential Start-Up Lessons
Section 3: The High Rewards Of Business Builders
Book PresentationLow Risk, High Reward by Bob Reiss
Book Abstract
MAIN IDEA
Contrary to popular belief, most entrepreneurs don’t welcome risk with open arms.
In particular, low-risk entrepreneurs work hard at turning risk reduction into a science. They do everything they possibly can to anticipate, minimize and offset the risks they take. Sometimes, they will align a number of contingent commitments together in such a way that the risks offset each other. At other times, they will negotiate agreements with third parties to assume part of the risk in return for specified rewards. By following these and other strategies, low-risk entrepreneurs manage risk – they deal with it rather than ignoring it or attempting to eliminate it altogether.
At the same time, conventional wisdom holds that the greater the risk, the greater the reward.
Low-risk entrepreneurs also turn that idea around to their advantage by starting and building a business that delivers genuine added value to the end customer. They develop great products, inspired by passion. They launch new businesses in the face of obstacles. They concentrate on generating orders, and then reorders for their products. They grow the business despite temporary setbacks and roadblocks. In short, they position their business in such a way that not only do they seek to get a piece of the pie, but they also work hard at making the pie bigger for everyone involved.
In essence, then, entrepreneurs who combine the low-risk approach to risk management with the high-reward benefits of building a business well place themselves in the ultimate business environment and circumstances – where they can derive high rewards in a low risk situation.
About the Author
BOB REISS is the founder and president of R&R Recreational Products, Inc. He has been involved in 14 start-ups including R&R/Valdawn which was named as one of America’s Fastest Growing Companies in 1992, 1993 and 1994 by Inc. Magazine. Mr. Reiss graduated from Columbia University and the Harvard Business School, and has taught or lectured at more than 80 institutions around the world. He is a frequent public speaker on the subject of entrepreneurialism nationwide.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Low Risk, High Reward (Bob Reiss)
Section 1: The Low-Risk Entrepreneurial Mindset
Main Idea
Entrepreneurs are made rather than born with everything they need to succeed. Low-risk entrepreneurs, in particular, are flexible – changing course whenever needed – and opportunistic – recognizing and pursuing unexploited openings.
The low-risk entrepreneur’s mindset has three key elements:
The right mix of skills and character attributes.Financial numeracy – the ability to understand and use numbers effectively.The ability to spot, manage and reduce risk effectively.Supporting Ideas
Element #1: The right mix of skills and character attributes.
Entrepreneurs come in all kinds of external packages with regards to age, gender, educational background and so on. The successful ones, however, tend to exemplify ten distinctive attributes or personal qualities:
Passion – the only way inexperience can be offset and the right investors, employees, customer and suppliers can be attracted to a business venture.Curiosity – which forces the entrepreneur to ask the questions that need to be asked about the product, the people and the industry.A work ethic – because even with smarts and good planning, hard work and sacrifices will always be required.Energy – that feeds off doing something they are passionate about and which manifests itself in their general approach to the business.Flexibility – which is a delicate balance between tenacity and a willingness to adjust business plans in the face of either new opportunities or unexpected obstacles.Balance and poise – offsetting the work routine with regular breaks to recharge the batteries, renew perspective and feed the curiosity within.Mental toughness – the inner determination, the will to win and succeed regardless of the obstacles, roadblocks and setbacks along the way.
