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Mitigating Risks – Lessons from Basejumping

Driving home yesterday from Boise, Idaho to Salt Lake City, Utah we stopped in Twin Falls, Idaho to watch some legal base-jumping. It is one of only a handful of places in the world that not only allows, but also encourages people to visit the city and jump off the Perrine Bridge, which is 486 feet.

I arrived with my family (wife, two boys, my toddler girl and older brother) and watched as the jumpers were preparing their chutes for the incredible jump. As my family watched the group of four jumpers from Salt Lake City, Utah, we were amazed at their attention to detail and how meticulous they were in packing up the device that will save their lives.  In jest, I asked one of them if I could do it for him and he could take a break, he laughed and said this is one thing he is happy to do for him self.

As they were preparing to jump, we were looking up the statistics for number of jumpers that die, in our shock, one in 250 jumpers will die from the sport. I have embedded the videos below for your enjoyment.

The rest of the two and a half hour drive home I thought a lot about risk and the risk that is associated with running a small business and all the things it takes to be successful.

Today we have hundreds of brands on from all over the world. I am amazed at the creativity and resourceful product ideas that we see sign up on a daily basis. Each of these brands represent to me an entrepreneur that realizes the risk, but determines that the fulfillment of an idea is worth the risk.

Rather than waiting for someone to take care of them, an entrepreneur allows the risk to be mitigated by superior products or services and makes it happen. Like the base jumper that realizes that he must take care of the parachute himself, the entrepreneur understands that his/her future is in executing on their business plan.

Does this mean that every business will succeed that understands risk, not at all, but understanding the risks helps you mitigate and pivot for success.

I hope that my children do not just remember the jumps off the bridge, but rather that the jumpers took great care in preparing for the jump to ensure that they achieved the rush of success and delight of living another day to jump one more time.

Hoping you all the success in the world!

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This entry was posted on April 9, 2012 by in Entrepreneurs.
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