In retrospect I think it’s a lot like driving: no matter how well the other person drives, I always feel safer it I’m behind the wheel.
Thinking about risk and entrepreneurship: There is risk, perceived risk, and the difference between real risk and perceived. And I know that I always feel less risk if I’ve got my hands on the wheel. Do you?
This helped me a lot while I was in the high-risk high-growth stage of growing a company, with my wife and I signing second and third mortgages and liens on our house.
I wasn’t really in control of the risk because I wasn’t in control of the market, market trends, competitors, competitive trends, etc. There was always the chance that a distributor could fail to pay, putting us into a world of hurt. There was always the chance that a big company would squash us, maybe not even on purpose.
So I wasn’t in control of risk, but I perceived less risk because I was in control of the business. I made the decisions.