Risk or Gamble

A small business owner has to take risks often and many do pay off in sales and profits. A risk is not a sure thing but should have a good chance at succeeding. The risk taker must consider the pros and cons of the situation and if the pros are 70% or more move forward. Usually when a risk is successful the rewards will be greater than for a sure thing. That's why it's a risk, otherwise everyone would do it.

Just opening or buying your business was a risk itself but you probably did your homework first. You felt there was a much greater chance of succeeding than failure. As soon as you accepted the risk you were likely confronted by many more risks you didn't plan on in advance. That's what owning a business is and must be dealt with.

But a gamble is something else and doesn't belong in your business. A gamble is when the chance os success is 50% or less. This is far from an opportunity to get ahead, it's a good bet on failure. Would you gamble your car on a hand of blackjack, probably not. There's not a good chance of winning and you don't want to be walking when you lose. So don't gamble with your business, make sure there's a good chance of winning before investing your time and money.