In my business, one of the 3 partners is very risk averse. Risk averse to the point that it is hindering our growth. He is afraid to pursue new opportunities out of fear of taking a risk. I'm not referring to reckless decisions, but well thought out, calculated risks, such as expanding our product line or partnering with companies that have complementary product offerings.
We have missed out on several good opportunities because he is afraid to take a risk.
What are some good ways to encourage someone who is risk averse to take a calculated risk now and then?
Any strategies or even books or other sources you can recommend are appreciated.
2007-07-13 01:01:43 · 5 answers · asked by 2007_Shelby_GT500 7 in Business & Finance ➔ Other - Business & Finance
If a partner is stuck in Analysis Paralysis, its time for you to move on.
Its all fine and dandy to have a "money man" in the organization, but if that person is so stuck on being in their cubby-hole that they stifle growth and expansion, its time for them to go.. or for you to do so.
If you have done the numbers and can show the ROI periods, and they guy still wont budge.. MOVE ON.. that loser will KILL the company eventually.
2007-07-19 13:47:12 · answer #1 · answered by I Can Count To Potato 7 · 1⤊ 0⤋
It's a matter of personal taste. Unless the person is forced to take risk, he will choose to live with what he feels comfortable with. I therefore think the proper and fair way is to make decisions based on voting, so the minor will have to lose the call to the majority - of course while you still need to present to him while the decision should be made like that. If the person keeps feeling so uncomfortable with that way of making decisions (majority voting), then he will automatically be bought out.
2007-07-20 15:51:51 · answer #2 · answered by Mimi 1 · 0⤊ 0⤋
Go by Law of Nature,
'Change is a continuous process'.
'Early Birds Get the Worms'.
'Take a Step, forward in a direction and keeping taking one after, an other you will reach the destination, sooner or later'.
'Take a Oath jointly for diversification and expansion'.
'Try to choose new areas, lines, and products, jointly'.
'Make your Market Research and Studies, jointly'.
'Involve your CA, to work out Business Economics (i.e., ROI, Investment Required, Cash Flow increase expected, etc.)
'Need and necessity of diversification and expansion'.
Even than, if you are back to square One !
Than it will better that " You follow First Law of Nature !
and 'You Just move on !! "
Good Luck ! !
2007-07-21 00:49:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
contact nitron circle of experts
2007-07-19 09:33:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
tell them the early bird gets the worm,.....if they sit back and wait for confadence then the oppertunity will pass.
2007-07-13 01:04:50 · answer #5 · answered by Anubis 2 · 0⤊ 2⤋