Risk and reward are inextricably intertwined. Of course, the richest rewards come to those who are willing to take the biggest risks. The oft-forgotten corollary to that strategy is that, by its very nature, high risk endeavors also have a greater chance of failure. That’s why most successful entrepreneurs and investors carefully evaluate risks and identify corresponding contingency plans before making a big decision.
The bottom line: Whether it’s a significant investment, a new job, or business venture, risk comes with the territory. The key lies in correctly quantifying that risk — otherwise you’ll never know if it’s truly worth it.
Photo Credit: Carla MacNeil