We all take risks, some take them more than others. Taking risks just to get an adrenaline boost is not advisable. However looking at all the pros and cons and calculating how much benefit you could get from risking it can be positive.
Let’s take a look at an example. You have been working somewhere for 4 years and are thinking about starting a business yourself. Quiting your job while you still have to figure out what you are going to do is a no-go. Starting a sidehustle while still working should always be considered. Yes, you will spend your free time building up a business which will lead you to get experience in the new/same business as your fulltime job. This extra time spend doesn’t even need to bring in any money.
There are risks and costs to action. But they are far less than the long range risks of comfortable inaction. – John F. Kennedy
Building an extra income is a long time goal, don’t give up cause you are putting more in than you get out of it. Compare it with studying at an university. Look how much time and money it requires. Everyone agrees that when you decide your are going for a diploma you have to complete it. Why wouldn’t you do the same when building a company on the side? Spending hours a week, receiving nothing in returns kinda hurts. But what is the alternative? Scrolling facebook another 2 hours per week? Watching the recommended videos on youtube? These are all posibilities, but not needed. Prioritise the things that will benefit you in your future.
What does it mean to take “calculated” risks? Going to a casino is an instant loss and a risk nothing more. Participating in an investment that promises 15% returns are also a risk. It becomes calculated if you research all the investment possiblities and after considering everything buy an investment while only looking for a 5% upside. Any investment can (and most likely will) decrease in value. Only if you allow the money to stay invested for 5+ years you reduce the risk you are taking.
Taking risks is not easy, if you are carefull by doing it you will have a chance to become better.