Are Entrepreneurs Risk-Takers?
Project Background — EntreCity is an innovation and enterprise (I&E) online ecosystem builder, powered by NTUitive and digital technologies. Leveraging on the key strengths of consultation and networking, EntreCity aims to equip a nation of entrepreneurs on key digital competencies to empower startup success.
In the past month, we managed to setup our very own studio at NTUitive. It was not as easy as we initially thought (ie. open laptop, open presentation slides, start zoom and press record). Things to consider and take into account were plentiful, ie. how to display the presenter’s note while recording the presenter and controlling the presentation slides at the same time, how to reduce background noise in a private office room with partition walls, how and where to place the camera, lighting, teleprompter to produce the effect as if the presenter is looking at the camera but is actually looking at the notes. Today, we successfully recorded our introductory course for EntreCity — Fundamentals Skills to Kickstart Your Entrepreneurial Ventures.
In the course, Alex shared a very unique perspective that resonated with me. He questioned if entrepreneurs are risk-takers. He shared that, in fact, entrepreneurs are risk-mitigators. Our world is changing and disrupted at an accelerated pace by new technologies and new business model, it will be a huge risk if we are to stay constant in our own path while the world around us is changing. He gave an analogy, we are playing in a game of soccer where the goal post is constantly moving, we have to change the direction of where we are kicking based on the position of the goal post. We can’t kick towards the same direction just because the ball went in the first time. The second time we kick the ball into the same direction, the goal post might no longer be there.
Hence, as entrepreneurs, we constantly try to access where the goal post is while attempting to kick the ball into the goal post. In fact, we are trying to mitigate our risk of failure by adapting to the changing environment. The risk-takers are probably the ones who are using the same old tricks over and over again even though the world has changed.
Looking ahead into post-COVID in the space of entrepreneurship education, we are taking the step forward as well. We believe that COVID-19 has shown that online education has value and blended-learning is probably the way forward. At EntreCity, we are adapting ourselves for this change to mitigate our risk of failing.
