subject: Risky Business in Los Angeles [print this page] Risky Business in Los Angeles Risky Business in Los Angeles
One of the biggest blows that could happen to anybody is losing everything that one has worked for. People take an inordinate pride in the things that they have earned in their lives. For many, they are trophies, a recognition of their hard work or talent by which they measure their stature with their peers. But with such inevitable comparisons come the need of some people to surpass what they have achieved so far. It is a positive trait among humans to set higher and higher goals, for this is the way personal progress is achieved. The more one has progressed in life, the better one feels about one's present condition and the more upbeat one is about the future.
But to set higher goals for oneself also fosters some risk taking behavior in the individual. While it has been a human quality to venture into the unknown, it has always been tempered by the need for security. It is when the risk-taking behavior is taken to extremes, to the exclusion of the safeties that such a risk-taking behavior becomes something toxic to the individual, leading to periods of stagnation.
The current business environment of "nothing ventured, nothing gained" promotes the risk-taking behavior. In an environment where margins are getting low, the chances for big profits are for those who are willing to gamble big on new markets, new ideas, new processes or new products. But while there is a chance to make it big, there is a chance for an epic fall. Such is the business environment in Los Angeles, California.
California is undoubtedly an affluent market; Los Angeles doubly so, as its reputation as a market is that where the new and the best are first displayed. That's why California is an entrepreneurs' paradise. But for every success, there are some that ended up in bankruptcy. Los Angeles has a lovehate affair with entrepreneurs.
Take the early years of the filmmaking industry in the area. A number of film outfits succumbed to bankruptcy. Los Angeles continues to churn movies despite such losses.
The city is not immune to economic ups and downs, but with a venturesome spirit, there will be no fear of bankruptcy. Los Angeles will continue with trying it again and again in any industry.
