Importance of Taking Risks As a Business Owner

Thinking Out Loud – Episode 18

This is the eighteenth episode in a series called Thinking Out Loud. In these videos, Armando Lanuti, the President of Creative Works, shares some of his thoughts on business, leadership, growth, operations, and anything else on his mind. Below is a transcript of some of the points he discusses in the video.

Hey everybody.

Today I want to talk to you about something that every entrepreneur has to be. And that is a risk taker.

When you operate a business and you’re an entrepreneur trying to build something from the ground up, or take something that’s there and build it to something that’s more, you have to be a risk taker just by your nature. You’re gambling, you’re putting it on the line to build something better than you could if you were just working for somebody else.

And with that comes this idea that you need to be comfortable being uncomfortable.

So, really funny story for us for example, was a couple years ago, we were getting ready for IAAPA which is the biggest trade show in the industry, for those of you that don’t know. And we’re only about six weeks away.

We decided to go to another trade show and that’s where we happen to meet our partners at Hologate. With only six weeks to go, and our booth completely planned and finalized, we decided to take the risk. We had to balance the amazing opportunity to partner with such great people and with such a great product, and what it was going to do to us and our team and the future of our company and what had to be done, all in that six week time frame. From agreements, contracts, marketing materials, booth realignment and just changing our plans completely.

And obviously that’s worked out really well for us.

And those are the kind of moments that each of us will have to deal with as business owners.

When that opportunity knocks, did you have the ability to actually open the door? Did you have the ability to take the risk that maybe somebody on the outside would have said “I wouldn’t do that. You’re comfortable, you’re safe where you’re at.”

But as an entrepreneur, you can’t live that way, you have to have this infinite mindset. You have to have this idea that your business needs to live on forever as part of your WHY
delivering on your goals as a company. And if you just keep doing the same thing every day, there’s going to become a time where that’s not going to be good enough anymore.

As we get ready to head into our IAAPA this year, we’re kinda doing it again. We’re going to be introducing a new product called Lucky Putt that is going to completely change the game of miniature golf.

As well as with our partners at Hologate where we’re introducing our new Hologate Blitz attraction with the Hologate tower so you can double stack VR attractions.

I can’t wait to see everybody there. We’ll talk to you soon.

For more business and leadership tips, follow Armando Lanuti on Facebook and LinkedIn.