With the announcement of the exit of LivingSocial and talks about the entrance of LinkedIn into the MENA space, we see a great example of the simplest truth and reality of entrepreneurship – expansion and growth involve taking risks.
All entrepreneurs start with the simple but crucial decision to take a risk, and larger companies thrive on continued risk-taking. GoNabit took a risk when selling to LivingSocial, as did LivingSocial in entering the MENA market; it doesn’t always go to plan. As LinkedIn now looks to enter the market, they seem to be taking a well-calculated risk, banking on the likelihood that opening an office in Dubai will produce healthy returns. This is the mark of true entrepreneurship. Identifying a need, creating a solution to fill that need and then fighting to build and sustain it.
As businesses come and go, expand and fade, entrepreneurs will continue to take risks that provide the catalyst, the impetus and, even in failure, the necessary lessons to build a more sustainable idea.
Are you excited to take your business to the next level by taking a new risk? Have you taken a risk that did not succeeded in profit, but may have empowered you to move on to your next great idea?