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The Top 10 Dare Devil Entrepreneurs Who Embrace Risk

Joel Brown (Founder of Addicted2Success.com)

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To become truly great in business, you have to take risks. Risk is also something most people are afraid of and as a result, they shy away from building a successful business in order to avoid it. However, risk taking is also the reason most billionaires came to become some of the richest people on the planet.

Do you consider yourself to be a risk taker? Do you evade or embrace risk as a part of your life?

Well this article will take a look at 10 of the biggest risk takers in business.

Perhaps one day you can borrow a leaf from these dare-devil entrepreneurs and become a major success.

 

10 Highly Successful Risk Takers In Business

 

1. Donald Trump

Donald Trump risk takerWith his monster TV show The Apprentice, a sprawling business empire and a billion dollar fortune, Donald Trump appears to be on top of the world. What you may not know is that it was not always this way. As a matter of fact, there used to be a time when he was facing personal bankruptcy with personal debts of $900 million. Donald Trump’s business also declared bankruptcy with debts of about $3.5 billion. However, he had cleared his personal debt within a period of 4 years, greatly reduced his business debt and even merged some of his business interests into a publicly held company, all in a short period of time.

Trump is living proof that risk takers can win big in business and lose big as well. As a matter of fact, Trumps success was due to his willingness to take huge risks.

 

2. Bill Gates

Bill Gates risk takerThe billionaire Bill Gates took a great amount of risks while founding Microsoft. He had to drop out of college in order to help create Microsoft. He took a huge risk, starting his business based on his vision that the personal computer would be a useful tool in every office and home.

Bill Gates was prepared to travel in the wilderness of the unknown and would do anything to win. He even went up against Steve Jobs and was not threatened to copy or borrow ideas from other great innovators and tech companies.

This paid off in the end when his company became a tech giant worth billions of dollars.

 

3. Henry Ford

Henry Ford risk takerThe world famous inventor of the automobile was very imaginative and willing to take risks. He slashed prices so steeply that he risked taking losses yet he managed to meet the crushing demand for Model T’s.

In order to satisfy consumer wants, Ford had to take it to the next level with a do or die attitude. Henry Ford even cut down the working hours and increased minimum wages for his workers so that they could work for a longer period of time before quitting. A very risky move that could be considered a mistake to most but was a strong reason why Henry Ford was able to conquer the automobile world.

 

4. J. Paul Getty

J Paul Getty risk takerKnown for his many failed marriages and his capacity for bearing risk, this billionaire oil baron is one of the most successful business people in our history.

J. Paul Getty founded and controlled Getty Oil Company in addition to 200 other companies. He left some of his wealth to the Getty Foundation which he created while still alive.

 

5. Larry Ellison

Larry Ellison risk takerThe founder of Oracle and one of the richest people in the world, Larry Ellison’s net worth is somewhere around $50 billion.

Much of his success has been attributed to taking huge risks. Larry Ellison would promise people non-existent features, only to go back to his developers and demand them to build the products. He would also hire staff unqualified for their position only to train them later with manuals and books.

 

6. Richard Branson

Richard Branson risk takerThe founder of Virgin airways and the 4th richest man in the United Kingdom, Richard Branson’s success has been attributed to taking huge risks in business. With Virgin Records, Branson grew his label by signing controversial acts of the time. He took this risk in order to raise some eyebrows and establish his label in a crowded industry.

At one point, Richard Branson had 125 law suits against his empire, for weird and oddly pathetic reasons. He knows that there are going to be haters out there when you are doing big things, but that doesn’t stop him, he loves the thrill of a risk.

 

7. Warren Buffett

Warren Buffett risk takerAs an investor, Warren Buffett has never been afraid of taking risks and making mistakes along the way. It is his readiness to take huge risks that have contributed to his astounding success.

Warren Buffett understands that stocks and shares are a huge game of risks, but he knows the investment of risk taking experience over time minimises his investment risks for the future, and so nowadays he tries his luck investing in various different industries with a huge measure of success.

Right now Warren Buffett is extending out side of investments and branding companies with his Berkshire Hathaway name. Something he has never really done before.

 

8. Jeff Bezos

Jeff Bezos risk takerFounder and CEO of Amazon.com, Jeff Bezos’ success has been hugely due to the risks he has been taking all throughout his career. Recently, he bought The Washington Post, a struggling new operation and looks to turn it around into a revenue generating business.

Jeff Bezos started his first company from a garage in 1995 and by 1998 he was in charge of a $22.1 Billion market presence.

 

9. Elon Musk

Elon Musk risk takerElon Musk, co-founded PayPal, he created America’s first viable fully electric car company Tesla Motors, started the nation’s biggest solar energy supplier, and rolled the dice with NASA to launch his space exploration company SpaceX all in the space of 15 short years.

Elon has managed to solidify Tesla Motors in a high risk, high cost industry. He faced the critics and haters when he funded his own SpaceX mission to Mars and was on the verge of company collapse when he played Russian Roulette between funding both failing companies Tesla & SpaceX, not knowing if both companies will fall apart or not. Elon Musk is known as this generations well known biggest risk taker.

Elon Musk’s Networth is estimated to be $6.4 Billion and growing.

 

10. John D. Rockefeller

John D. Rockefeller risk takerOwning the world’s largest oil supply known as Standard Oil, John D is the wealthiest person that ever lived. A strategic risk taker, John never settled and was always looking for greater things. He would give up good for great and this lead to his huge success. He knew that with the right intentions, anything could be achieved. He was a humble person who left behind a great legacy.

John D. Rockefeller is well known for taking positive calculated risks in every business venture that he got into.
So as you can see, taking risks comes with huge success.

 

The very things that we stand to lose when we take risks are the very same ones that we stand to gain. The dare devil entrepreneurs that are listed above were able to become successful billionaires because they were ready and willing to take risks. If they had stayed in their comfort zones, they probably wouldn’t have made it to the financial heights that they accomplished. In business, great success comes with taking great risks and trusting your instincts that everything will turn out quite right.

You never know what you can accomplish until you do something that you have never attempted.

Taking the risks gives you the opportunity to step into some of the biggest you could ever imagine.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 100 million lives in the last 6 and a half years.

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10 Comments

10 Comments

  1. Tim Denning

    Jul 7, 2016 at 7:35 am

    I think Elon Musk takes some of the craziest risks out of the people mentioned. That’s why he changing our cars and the way we travel to space. If we don’t take risk then we can’t expect to push the boundaries of humanity.

  2. Hugh Culver

    Oct 26, 2015 at 12:57 pm

    Great list. Love that you included Rockefeller with modern successes. And there’s so many more: Jobs, Hseih, Oprah, Singer (Medical Manager)

  3. ManuRao

    Mar 29, 2014 at 11:10 am

    Steve Jobs???

    • Paige Briggs

      Sep 3, 2014 at 11:21 am

      So, who is your favorite of these guys? Now mine is Jeff Bezos. I am absolutely obsessed with Amazon. I love how it is always getting better and better .
      I have to say , though I can relate to Larry ellison’s style. I do that in sales a lot. Sell first, educate later!

  4. Martin

    Mar 16, 2014 at 6:44 pm

    Having your success is great. However, if success isn’t built on the cornerstone of the following behavioral principles outlined below, you can bet your bottom success dollar/feeling that kind of success will leave you feelong empty and meaningless, craving for a thirst you cannot satisfy:

    Mark 8:36

    For what will it profit a man if he gains the whole world, and loses his own soul? Or what will a man give in exchange for his soul?

    Luke 12:15

    And He said to them, “Take heed and beware of covetousness, for one’s life does not consist in the abundance of the things he possesses.”

    Luke 12:33-34

    Sell what you have and give alms; provide yourselves money bags which do not grow old, a treasure in the heavens that does not fail, where no thief approaches nor moth destroys. For where your treasure is, there your heart will be also.

    Luke 16:13

    “No servant can serve two masters; for either he will hate the one and love the other, or else he will be loyal to the one and despise the other. You cannot se mammon.”

    Luke 18:18-25

    Now a certain ruler asked Him, saying, “Good Teacher, what shall I do to inherit eternal life?” So Jesus said to him, “Why do you call Me good? No one is good but One, that is, God. You know the commandments: ‘Do not commit adultery,’ ‘Do not murder,’ ‘Do not steal,’ ‘Do not bear false witness,’ ‘Honor your father and your mother.’ ” And he said, “All these things I have kept from my youth.” So when Jesus heard these things, He said to him, “You still lack one thing. Sell all that you have and distribute to the poor, and you will have treasure in heaven; and come, follow Me.” But when he heard this, he became very sorrowful, for he was very rich. And when Jesus saw that he became very sorrowful, He said, “How hard it is for those who have riches to enter the kingdom of God! For it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.”

    Build your success while honoring these principles, then you may call yourself successful.

  5. derek

    Feb 24, 2014 at 1:00 am

    What about Pablo Escabor, he took a huge risk by becoming the biggest drug lord in the world and made a fortune worth over 100 billion lol.

    • lewis

      Oct 14, 2015 at 9:05 am

      Top class banter here I like your style 🙂

  6. Naomi@businessstartups

    Feb 18, 2014 at 2:28 pm

    Hi Joel,

    I can’t remember who said it but I read a useful quote stating “do something everyday outside of your comfort zone”.

    Since birth we are programmed to stay safe and not put ourselves at risk. I think this attitude is why most people lead such mediocre boring lives (they secretly hate).

    Thanks for reminding me why it’s important to not always play safe.

    naomi

    • Kyle B

      Feb 24, 2014 at 5:37 am

      Great point Naomi! It all starts with stepping outside of your comfort zone and trying to accomplish something that was initially intimidating or scary for you or maybe even seemed impossible at one point in time. By testing those limits you are able to push yourself to a new level and often times discover new talents and abilities in the process.

  7. Nikola Gjakovski

    Feb 18, 2014 at 11:11 am

    Risk is first step of success. Always you risk something to get money. Either its love, happiness, wining and lot more …

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Entrepreneurs

What if Elon Musk Ran Your Business? 4 Lessons From the Real Life Iron Man

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The story of Iron man and Elon Musk starts when Robert Downey Jr. visited SpaceX headquarters miles away from the setting of the first Iron Man movie back in 2007. The actor was inspired to base his character on Elon Musk’s personality. Ashlee Vance writes in Elon’s biographyboth Musk and Stark were the type of men, according to Downey, who ‘had seized an idea to live by and something to dedicate themselves to’ and were not going to waste a moment.” (more…)

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5 Ways to Prepare for Your Entrepreneurial Journey

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There are many ways to get ready for entrepreneurship regardless of whether you’re ready or not. The migration to the unknown will take you through many places, emotions, and people. Your journey will be both easy and difficult, but hopefully in between, you prepare yourself with an expectation of helping people by solving problems. The quest that you are about to enter will be one to remember if you are willing to adapt quickly and not give up.

Arranging for this huge change in your life should be one of the most memorable expeditions that you will ever experience. Looking into the future and being able to lay out a road map for your entrepreneurial journey will definitely be beneficial. Though there will be challenges every step of the way, being prepared will help you achieve your goals more efficiently.

To help you get started, here are 5 ways to plan an entrepreneurial expedition:

1. Form Ideas By Visualizing And Writing Them Down

Before beginning your entrepreneurial quest, brainstorm to come up with many amazing ideas even if you never act upon each of them. It’s always a good thing to write them down on paper, computer or via a mobile device app such as Google Docs. An abundance of suggestions about your processes is better than none or even a few objectives that can possibly help in some way.

The key is to breakdown those ideas to come up with better solutions to move forward in your voyage. See what’s more in line with your mission and values to be effective for your core audience, products or services that you may want to create. Whether you categorize those ideas or check them off one by one, coming up with different concepts will be a great start to your journey.

“Creativity is contagious – pass it on.” – Albert Einstein

2. Begin A Pattern Of Consistency By Quitting Bad Habits

Repetitive actions can present their challenges but if there’s a way to make progress and eliminate bad habits that aren’t hindering your itinerary then keep doing them. Have you ever noticed that negative thoughts, lack of confidence, and no exercise regimen could negate persistence of not only your entrepreneurial journey but other goals as well?

Get your mojo or swagger back by committing to a life of constant and everlasting consistency by stopping eating bad foods, wasting your time with hours of playing video games, watching television and other things that will stall your progress. When you get rid of actions that are slowing down aspects of your life, you’ll begin to pursuing things to help you lay the groundwork for success.

3. Be Disciplined While Listening More

Another way to prepare for your entrepreneurial journey is by being in control of yourself while paying more attention to everything else. It’s quite common to focus on things outside of your realm and instantly become something other than what you see fit. Difficulties can arise if your focal point isn’t there and somehow an opportunity pass right by you.

Mentorship even from a distance from someone that you don’t know can be a key element as you learn the importance of your mission. Listening to podcasts and watching YouTube videos of someone that has validated your idea is a great starting point as well. Mimicking them on some level can help you understand different phases that are ahead and how to deal with them.

“Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young.” – Henry Ford

4. Work Effortlessly And Prioritize Your Time

You will have to work extremely hard with an emphasis on actual time value before pursuing your pilgrimage. We often hear about the results of hard work and it sounds cliche but when many other things are happening outside of your control, finding a way to manage your time can become difficult.

Most people will start off alone with zero help in terms of having a partner and putting in 100% effort. You will likely wear multiple hats as the visionary, programmer, marketer, content creator and so on. You may have to function with only 3 or 4 hours of sleep or even none at times while being respectful and cognitive of the time of others as well.

5. Persist Like There’s No Tomorrow While Planning For The Future

What’s in you? Nobody knows the answer to that question but you and the determination for reaching your destination as an entrepreneur. Whatever the answer is, you should be driven with an undaunted passion to pursue your expedition. Go after your dreams with a tenacity that you didn’t know was within your soul and keep pushing no matter what.

Be mindful that your strong pursuit can be done all while determining the proper destination of where you want to eventually end up. Never lose your focus admist numerous distractions that will happen. The emphasis comes from experience along with talking to other entrepreneurs who had similar occurrences at multiple stages of the process.

Put in the work early with the mindset of expecting obstacles and pushing forward pass them.  It will be tedious and preparing for a grind will make your entrepreneurial journey more understandable through tough times. You will be a lot wiser and better after all of the hard work whether it’s considered a failure or success.

Which one of the above 5 ways to prepare for your entrepreneurial journey resonated most with you and why? Share your thoughts below!

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7 Things You Need to Do to Grow as an Entrepreneur

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Startups are on the rise and youngsters are keen to launch their own business instead of a nine-to-five job. As simple as it sounds, opening a business needs patience and the right planning. Moreover, the profits gained can help you meet your financial obligations and realize other dreams.

Young entrepreneurs must learn the skills of investing money within the right channels as most startups fail because of a shortage of funds. Every entrepreneur has a chance to innovate, create new jobs and have an influence on society. It’s our responsibility to continually grow and push forward, usually beyond our comfort zones.

Here are the seven must-learn tips to grow as an entrepreneur:

1. Read Books and Articles

For many new entrepreneurs, your first mentors are usually found in the pages of books and blogs. Much often learned from the writings of others, and fortunately these days, people are sharing their experiences. A survey found that 88% of the world’s wealthiest people read for a minimum of 30 minutes daily. By comparison, only 2% of the overall population reads this much daily.

Read chapters in books, and articles to get new ideas and skills. Some ideas might not be directly relevant to what you’re doing these days however, it could come helpful a year or so down the road.

My advice is to search out those leaders and writers who resonate with you. You’ll understand when you’ve hit on something when you find yourself returning to a book for answers and inspiration time and time again.

“Books give a soul to the universe, wings to the mind, flight to the imagination, and life to everything.” – Plato

2. Perform SWOT Analysis

Business students and old-school marketers should be very aware of mapping out SWOT Analysis charts (Strengths, Weaknesses, Opportunities, Threats). If you’ve never made a SWOT chart, write out the strengths, weaknesses, opportunities, and threats in four quadrants on a piece of paper.

In reality, you’ll jot down a couple of notes on the back of a cocktail napkin, however despite the simplicity, if done right, a SWOT will shed light on crucial areas that require improvement. Most significantly, don’t shy away from the truth. Dissecting your weaknesses isn’t fun however, no good comes from avoiding the fact.

3. Be Willing to Take Risks

It’s impossible to become an entrepreneur if you don’t take risks. Doesn’t matter how many times you’ve fallen. See how many times you stand-up. Being an Entrepreneur isn’t that easy; it’s an up-and-down game like a business. Be willing to come up with new plans even when old strategies are working. It’s through such risks that your business will grow. You’ll learn and meet new partners or investors. Even so, the risks must be calculated. Doing the analysis and making consultations is vital in this case.

4. Open Your Eyes Wide

Many opportunities are arising in the business world every day. For instance, many companies are willing to come up with a mobile solution for a startup without charging immoderate prices. This info can only be discovered if you’re keen.

Before dismissing adverts from websites and mainstream media, conclude if they’re relevant to your business. Also, follow the events happening in the stock market and international business summits. You’ll find the opportunities which will take your business to a new level.

Becoming successful as an entrepreneur is possible if you learn, take risks, evolve, innovate, and stay motivated. You must be realistic regarding your abilities and watch the events that unfold in your world.

5. Lead the Way for Your Team

Young entrepreneurs need to encourage employees and provide help at every juncture. For any young entrepreneur who aspires to be a leader it’s necessary to be:

  • Honest
  • Ambitious
  • Courage and Risk Taking
  • Dedicated
  • A Team-player
  • An effective listener
  • An effective communicator
  • Able to inspire confidence
  • Positive

An entrepreneur who has all the attributes of a leader leads the employees to productivity. It’s essential that the team respects a leader. The hunger and aspirations of the leader to strive for success inspire the employees to put in that extra effort to be successful.

“A leader is one who knows the way, goes the way, and shows the way.” – John C. Maxwell

6. Learn How to Keep Initial Success at Bay

Do not enjoy the shrubs of initial success for too long. Return to the drawing board and draw the future course of action. To move on to the next phase:

  • Utilize local and online channels to make hype for the services
  • Start expanding by hiring employees to enhance productivity
  • Cater to a good segment of the audience by providing various services
  • Re-invest the profitable revenue into new business efforts

Never let the initial success get to your head. The online platform is an ever-changing arena. Analyze what’s working and what new tactics can be utilized to strengthen the market base.

7. Find and Keep Business Partners

You will always go far if you have people to carry your hand during hardship in business. They’ll share ideas that have made them successful and provides you funds whenever necessary. Demonstrating that you are organized, capable, and serious is vital when nurturing such relationships. Keeping records, creating financial contributions to society, and attending forums are some of the choices worth trying.

Being an entrepreneur isn’t as easy as it looks. You’ll face many up-and-downs, risks, financial crisis, and many more. Be ready to face these problems if you want to be an entrepreneur. Entrepreneurship isn’t about making money, it’s about innovating new things and represent new concepts and ideas to the world.

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Transitioning From Employee to Entrepreneur? Try Intrapreneurship First

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Studies show that 15 million Americans are self-employed full-time and that an estimated 27 million Americans will transition from the traditional workforce to full-time entrepreneurship by 2020. Additionally, it is asserted that entrepreneurs are 125% more successful if they have previously been employed in the industry in which they presently do business. This is all great news on many levels.

Chances are, if you are reading this article, you are considering transitioning from employee to entrepreneur, or perhaps you have already made the shift. I get it. I am one of the millions who has made the switch – trading stability and comfort for passion and freedom. However, if you are a potential full-time entrepreneur, there are many things to consider before making the leap.

How will I support myself and my family in the initial stages of development? What do I do if I fail? How do I maintain the drive needed to make a business successful? How will my business harness the creativity and innovation required to thrive in the marketplace? These are all valid questions and should be considered deeply.

If only there were a training ground to test your management capabilities, gain knowledge, think innovatively and be solution-focused. But, wait, there is. Your current employment can offer these opportunities and more – through intrapreneurship.

By definition, an intrapreneur is an employee of a company who has adopted an entrepreneurial mindset. Intrapreneurs are highly motivated self-starters and innovative, solution-driven thought leaders, who work within an organization. Because of this definition, acting in an intrapreneurial capacity in your current place of employment makes a great deal of sense when considering the move to self-employment. You can use your current employment status as a testing ground for where you want to be.

Here are four reasons why intrapreneurship can work for you:

1. See a problem. Solve a problem

All businesses should be designed to fulfill a need. Just as your own business should be able to justify its existence in the marketplace, initiatives within an organization should do the same. Closely examine processes and products in your place of employment. Determine what could be executed more productively. Alternatively, design a new initiative to creatively meet and exceed customer expectations. Acting in this manner will prepare you for building the structure and mission of your own business.

2. Creatively capitalize on skills and talents gained outside your employer

In many instances, we separate business from personal, and there are many good reasons for this approach. However, there are notable skills and talents used in your personal life that are transferable to the workplace. For example, if you engage in team sports, use your team building skills and charisma to involve your colleagues in projects.

If you love to read fiction books, integrate the creativity of the stories to bend the thinking of traditional methods of operation. The possibilities are many. Business owners rely on all life experiences, directly or tangentially related, for the benefit of their enterprises.

3. Intrapreneurship is for all employment levels

If you think intrapreneurship is only for c-suite executives, think again. Intrapreneurship is for the mailroom to the boardroom. As noted in the definition, intrapreneurship is about being a self-starter. You do not need permission from anyone to be highly motivated. Just as all parts of our bodies have a function, so do all positions in an organization. Even if you feel your position has no purpose in your organization, make one. We all have to start somewhere in our entrepreneurial journeys, so start right now, where you are.

4. Experiencing failure is inevitable. Move forward anyway.

All of us will experience failure at some point and multiple times as well. Failure will happen regardless if you remain employed or set out on our own. Be bold enough to move forward with establishing your voice and your place anyway. Business and life are about forward movement. Decide now what next step you will take if you fail. There is always a path forward. Get used to the possibility of your ideas being rejected and your designs being flawed now, so when you are a full-time entrepreneur, you will know how to advance.

Whether you are at the infancy stages of developing your own business, currently self-employed or even wish to remain an employee, establishing yourself as an initiator and innovator can reap many benefits for you and your company. That is the beauty of it.

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