In true TGIF 2 Minutes fashion, a short note today – with further thoughts to follow.
A week ago, I had the distinct honor to set foot onto “Omaha Beach” in Normandy, France to recognize the 80th anniversary of the Allied Troops storming that beach on June 6, 1944, in the name of (future) freedom – and potential success – for multiple generations of free people around the world. The experience and the trip surrounding the experience left an impression that will not soon wear off.
Notably, the group with whom I traveled included a healthy handful of individuals with a deep appreciation of D-Day’s risks – and the concept of risk in general, specifically business and market risk. This observation led to thoughts around taking risk and how risk can (emphasis, can) pay off down the road.
Investing and starting a business involve risk – often large, unavoidable, expensive risks. Merriam Webster defines risk as “possibility of loss or injury” or “something that…suggests a hazard”. Potentially stinging words.
The presence of risk can cause an investor or businessperson to shutter or even turn away from a goal or direction being taken. However,
- calculating risk (or risks)
- balancing risk with protective measures
- and plain old tolerating risk
can make a huge, meaningfully positive difference for a person and his or her family.
Risk is not for everyone and there are times for risk avoidance. But with eyes wide open, a healthy tolerance for risk can have healthy payoff, especially if enough patience is involved in waiting out results.
This material has been prepared for informational purposes only and is not intended to provide, and should not be relied upon for, tax, legal or accounting advice.