In this interview with CalvinAyre.com’s Becky Liggero, Vale Baloulian of BetConstruct explains why taking a calculated risk is important in moving your business forward.
Each of us have heard this advice before: “don’t be afraid to take risk.”
Whether it came from a loved one, a friend, a colleague, or even from a random acquaintance in a conference you attended, this phrase of encouragement is given to us when we are at a crossroads or at the moment of making big decisions that could alter your future.
But all these times, we are given the wrong advice when making decisions. After all, taking a risk means betting it all on one roll of the dice. If things fail, there’s no chance for you to take another shot for glory and redemption.
Vahe Baloulian of BetConstruct emphasizes that while it is important for entrepreneurs to take risk, the risk they are going to take should be a calculated one.
“I think risk are important to take but I like calculated risk. I don’t like crazy risk,” Baloulian told CalvinAyre.com. “And we do take calculated risk because we have a back-up with a good product and we do hope that they will be used with the Open Source.”
In introducing their product Open Source to the public, Baloulian said that the company evaluated first the risk that may entail the launch of their product instead of taking a blind leap of faith.
He said that it has been the company’s tradition to introduce their products and they invite friends, operators, people, and people they don’t know but would like to know for the presentation of their product.
“This year’s theme is Open Source where we are putting up our player management system in an open source format. This is a risky thing for us to do, because it is a product we sell but we kind of realize that we need to give the ultimate freedom of choice to the operators and the providers, who can use this open source code, and develop something new and exciting for the industry,” he said. “We hope to benefit from it because we hope that operators will take our products, integrated this in their platforms and use it. But obviously we have no way of forcing them to do that. Only by producing the good things so that they’ll be desiring to take and use.”
So the next time someone will take a major decision, Baloulian said that they should always encourage them to take a calculated risk.
“As far as why it is important, because we don’t want to stall in one place and we are not arrogant to know everything. So, as I always say, we are a learning company, and the only way to learn is to let others show you what you don’t know. So you always leave the door of opportunity open and that’s the risk you take,” Baloulian said.