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The Road Not Taken

Contrary to popular myth, entrepreneurs do not enjoy taking risks. Granted, a certain amount of risk is unavoidable in business, but the thrill of the start-up doesn't come from defying the odds. It comes from creating a viable company, and you improve your chances of doing that if you keep the level of risk as low as possible.

Not that minimizing risk is easy, particularly if you're setting out on your first new venture. You're excited, after all. You're impatient. You may be under financial pressure as well. When you come...