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Managing Risk | Candlelight Heroes
We've all heard the old saying "nothing ventured, nothing gained". Like most old sayings, there's a strong element of truth in those words. At the risk of following one old saying with another, without risk there is not, and cannot be, any reward. There is an element of chance inherent in every venture, and unless that chance is recognized and faced, the venture will never become reality. That being said, there are people who are natural risk takers, as well as people who are very risk averse. The key to success when it comes to risk-taking is understanding what type of person you are and how this personality trait can affect your outcomes when it comes to dealing with risk. It is important to keep in mind that the secret of success when it comes to managing risk is mitigating potential damage in favor of potential gain. Therefore, neither type of risk personality, in and of itself, provides an advantage over the other when it comes to risk management. A risk taker can just as