Rodney Sampson shares several ways he handles risk as an entrepreneur and how failure can propel you forward. Watch more videos on small business news and trends: https://bit.ly/2VsFsag

0:00 Who is Rodney Sampson?
0:22 Importance of risk in entrepreneurship
0:36 Types of risks you need to take as a business owner
0:50 Moderate risk taking in business
1:30 How failure still has an impact in business
2:05 How you don't have to be afraid of failure as an entrepreneur

When one is given permission to fail, Rodney Sampson, Executive Chairman & CEO of OHUB and Partner of Black Angels & Allies Fund, says startups and small business owners are the ones encouraged to take that risk. As the first Black co-founder to raise millions in venture capital in the Southeastern US, Rodney knows firsthand what it means to take many leaps of faith to reap the rewards. Because most entrepreneurial endeavors begin with a lot of risk, both success and failure are theoretical until you actually get started. Rodney discusses the importance of taking measured risks and the types of risks that should be leveraged for scalability, regardless of the outcome. Even if failure comes, the time spent by failed startups has still had a positive impact on the economy and those employed for their future startup careers. In other words, it is never a waste of time. Rodney encourages aspiring entrepreneurs to build their hopes, which will help them progress toward success or fail in positive ways.

References:
Only 6% of directors believe that their organization's board is effective in managing risks. https://quantivate.com/blog/grc-risk-compliance-statistics
20% of small businesses fail in the first year. https://www.fundera.com/blog/what-percentage-of-small-businesses-fail?irclickid=Wf9TplSLmxyLRhuTw3SRMwTdUkBRMtxxRzgIWM0&utm_campaign=Skimbit%20Ltd._10078&utm_source=Impact&utm_content=Online%20Tracking%20Link&utm_medium=affiliate&irg wc=1?campaign=10078&source = Fundera_Impact
33% of Americans say the fear of failure keeps them from starting a business. https://smallbiztrends.com/2018/11/fear-of-failure-in-business.html#:~:text=33%25%20of%20Americans%20Say%20Fear,Back%20from%20Starting%20a%20Business

More information about Rodney Sampson:
https://www.linkedin.com/in/rodneysampson
https://www.opportunityhub.co
https://www.blackangels.co

Small Business Resources:
Venture Forward Study: https://www.godaddy.com/ventureforward
Current information on COVID-19: https://www.cdc.gov
COVID-19 resources and grant information: https://www.covid19businesscenter.com

The information in this video is for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject.

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