On risk aversion

Adam Grant in his book “Originals” cites recent studies, which show that most successful entrepreneurs start their businesses as side projects. They do not quit their day jobs or studies until the side business is mature enough that it can support a living. In doing so, the successful entrepreneurs hedge the risk of failing in the new project.

There are exceptions, of course, and the individuals who go “all in” into their startups and succeed (Elon Musk with his Tesla company comes to mind as an example) receive the lion’s share of media attention and public admiration. Still, the percentage of failure is higher among such people. Perhaps, their propensity to taking risks reflects on their style of management and communications, which ultimately has a negative effect on the entire enterprise.

And side projects that are pushed alongside the main job don’t have to be small in scope or amateurish. Perhaps more importantly, the hobby projects can be very satisfying even we don’t have goal of developing them into full-time jobs. Just yesterday, I had an opportunity to photograph a heavy metal band, in which my kendo friend is playing a bass guitar. All of the band members have “normal” lives outside of the hard rock world, but when their makeup is on and they go onstage they make a tangible contribution to the community, which is obvious in the reaction of the loyal fans, who gather around them. I personally had a great fun at the concert, mostly just through exposure to an atmosphere that is quite foreign to my typical photoshoot routine. After all, I am not often concerned about being sprayed with fake blood from stage effects while trying to compose a shot.