New business opportunities

An entrepreneur is always on the lookout for new business opportunities. When he spots these, he grabs the chance and sets out to make a success of it. Just like a gambler who makes the most of his chances.

An entrepreneur takes on a big risk when he goes into business but he does a background check before he begins. He works out the pros and cons, studies the markets and his resources, listens to advice from various stakeholders and then takes a calculated risk.  There is no guarantee of success but he still takes the risk because he has taken the time to check out what could go wrong so that he can guard against potential danger. So it is a restricted kind of gambling.

No information, no idea

True gamblers bet totally on chance. They have no information, no idea about what will be the outcome. In gambling dens he has a 100% risk because usually the dice is loaded. An entrepreneur gambles when he starts o his business. He has to keep going after that to ensure that the business does not fail – so he has to study the market, confirm that he has enough money, motivate his employees and safeguard his reputation – all this involves a kind of gamble.

An entrepreneur who cannot take risks will not do well. Some of his gambles will work out, some will not. But he cannot stop “gambling” – if he does his business shuts down. But since he is armed with knowledge, some experience and expertise, he has the wherewithal to take a big chance and carry off his gamble with a greater degree of success than a true gambler.