There are a lot of difficult decisions to make when you enter the business world. You may have thought choosing your product was the end, but think again. The decisions don’t get harder than that. But, they do keep on coming. From deciding how to present your product, to choosing names and logos, your work never ends.
Even when the early days of conceiving are finished, you’ll face choices each day. And, you’ll never be quite sure which route is right. After all, you’re new to this. You don’t know which mistakes to avoid until you’ve made them.
There are even decisions which will crop up time and again. These are the choices which don’t disappear once you’ve made them but have to be considered at each stage. One such issue is that of whether to play it safe or risk it. This is a surprisingly tricky decision to come to, and it’s one you’ll have to consider in many areas. Each time, you may find that the answer varies. To help you along the way, we’re going to look at a few areas in which a different choice applies.
A mix of the two. Let’s start with the hardest one. Whether your product is a blog, service, or physical product, you want to both take risks, and stay safe. Confusing, we know. But, with a bit of thought, you’ll realize this is entirely possible. On the one hand, you want to make yourself stand out in whichever field you’re operating in. And, no one ever stands out when they play it safe. As such, you have to take risks to get yourself out there. This means doing some things differently or following a path no one has before. That’s crucial. Without it, why would people consider you over your competitors? Why would they even look your way if they already know a company who offers what you’re attempting?
Equally, playing it safe has a role here. While taking risks is the best way to find your place in a market, playing it safe is the best way to stay there. This is especially important to remember if you’re new to the business world. You don’t yet know what works and what doesn’t. So, it’s essential you take lessons from competitors to help you learn. Look at the ways they operate, and the services on offer. You don’t want to copy exactly, but find a way to incorporate these things into your operations. In these areas, taking risks won’t pay off. Not to mention that you won’t be informed enough here to take intelligent risks. Perhaps you’ll reach that stage down the line. But, for now, stick to what you know works.
Risk it. When it comes to branding, there is no right or wrong. You can’t exactly ‘fail’ in this area because it’s a creative part of a business. As such, it’s open to interpretation. With that in mind, playing it safe would do nothing but lose you custom. It could even open you to potential copyright lawsuits. Instead, it’s important to take risks. Produce branding unlike any you’ve seen before. The more cutting edge you are with ideas here, the better. Looking at what’s come before may still be useful to a certain extent, but only to give you a rough outline. How you fill that is down to you.
Of course, that can open you up to a whole other issue. How do you even start to come up with risky ideas? Brainstorming sessions can work amazingly here, as can word association games. The more off the cuff your branding method, the better chance it stands of making a stir. So, don’t be afraid of looking outside the box in this area! Play around, too, with colors and shapes. Again, you don’t need to stick to the norm. If it suits what you’re doing, a garish mix of colors which you never see together could be what you need. Play around, break the boundaries, and see where it gets you.
Play it safe. When it comes to money, risks are never a good idea. After all, making the wrong gamble could lose you big money in no time at all. As such, it’s crucial you play it as safe as possible here. That means opting for the best accountants, and being careful of every expense. Only work with trusted traders who you know are doing you a good deal. Find them through recommendations and research.
It’s also worth applying this careful approach to other aspects. When it comes to your business insurance, you want to ensure you’re getting the best deal. Again, shopping around can help you here, as can a company like Equify, who you can contact for risk management on any policy you take out. This way, you can ensure you aren’t paying out for a policy which doesn’t have your best interests at heart. It’s also worth playing it safe if you take on employees. Hold interviews yourself, and request references from any employee you consider. That way, you can ensure you aren’t spending big money on someone who has no clue what they’re doing.
Risk it. Much like with your branding, it’s always best to risk it when it comes to marketing. There are, of course, set methods which work. Television adverts, for example, are still the most efficient. Equally, digital marketing is a must in modern business. But, aside from those rough guidelines, the marketing world is your oyster. And, in truth, the company which take the most significant risks here always come out on top. The advertisements which stick in your mind are the ones which take you by surprise. And, you can be sure companies didn’t get those ideas down safe routes. Risks don’t always pay off. We’ve all seen an advertisement and wondered what the company were thinking. But, then, even that will get people to sit up and pay attention!