Some of the most expensive mistakes made by business owners and execs are often disguised as smart business decisions.
“There are certain predictable mistakes that will derail a new company … and a lot of them have to do with misguided attempts to minimize risk,” says Tom Panaggio, author of The Risk Advantage and founder of two thriving businesses.
Here are some big mistakes to avoid that may not seem like mistakes at first blush:
1. Playing it safe. Yes, risk is scary. But the truth is, unless you continually embrace risk, your business will never emerge from mediocrity. Panaggio insists that risk is the only thing that can give you the edge to distinguish yourself from the competition and reach your full potential … and that’s worth making a few mistakes along the way.
2. Believing that if nothing is broken, it doesn’t need fixing. When facing a crisis, it’s (fairly) easy to take risks. But when things are going smoothly...(register to read more)