By Isaiah O’Connor

Last time I wrote about managing your risks as you jump out into the wild and woolly world of business. I did mention that there were always risks involved, and you should learn to manage them enough to prevent the risk from becoming a wild gamble.

Today I am going to talk about another type of risk that I would say a large majority of the population takes without realizing it. That is the risk of not taking risks. You, my reader most likely would find that to be a strange concept I know. So what risk am I talking about? The risk of lost opportunity.

You see there is a concept called “Opportunity Cost.” This is a concept that few people seem to really think about or consider with their business, their life, and their money. Even though the concept is rather intuitive and we use it in our decision-making process on a daily basis. In finance, the concept is pretty straight forward. If you spend the money you have, say on a vacation, or a very nice car, you by default lose the opportunity to put into some form of investment.

Click here to check out the book “48 Days to the work you Love” on Audible.

For further reading, you can check out my blog post on the subject, by clicking here. Have you become institutionalized? The danger of not taking risks.

For my previous podcast click here. Avengers Endgame. Investment or Gamble?

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Thanks for listening to the O’Connor Bootstrap podcast, an Atheoz business solutions podcast. you can reach out to me at Isaiah@ballongeventbyraa.com if you enjoy my podcasts please subscribe, if you are feeling generous you can find me on Patreon at Atheoz Isaiah O’Connor https://www.patreon.com/user?u=19166559 For past podcast episodes and blogs please visit our website atheoz.com thank you, everyone, and take care.

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Until next time, I have been,
Your Friendly Neighborhood Entrepreneur,
Isaiah O’Connor