In this episode of the Business of Business podcast, Staci J Dempsey, along with her father Jack Dempsey and sister Jennifer Faith, delve into the theme of risk versus reward in entrepreneurship. They share personal stories of risks taken in their business journeys, discussing the importance of understanding risk, the mindset required for taking risks, and the value of having support from mentors and family. The conversation emphasizes that risks can be both big and small, and that the rewards can extend beyond financial gain to include personal fulfillment and business growth.

Nugget Alerts

• Risk-taking is essential for entrepreneurs.
• Understanding the nature of risk is crucial.
• Not all risks have to be monumental; small risks matter too.
• Confidence in risk-taking grows with experience.
• Support from mentors can guide decision-making.
• The worst-case scenario should be considered before taking risks.
• Rewards can be more than just financial; they include peace of mind.
• Embracing change and technology is part of risk management.
• The sigmoid curve illustrates the journey of risk and reward.
• Timing is key; take risks when your business is growing.

Email us at: TwoDaughtersAndTheirDad@gmail.com

Please download our Best of Nuggets eBook here.

Like and follow us on Facebook

Jennifer Faith Dempsey has been in the beauty industry for over 10 years. For the last 5m years, she has owned J. Faith Hair Studio. She brings her experience on how she balances entrepreneurship and motherhood. Check out Jen’s blog.

Staci Joy Dempsey is an insurance agent, a mom, and a busy non-profit volunteer. She truly understands what it means to be an entrepreneur. Staci serves as the podcast's host.

Jack Dempsey is the dad who heads up this busy family. He is a founding partner in Dempsey, Weiss & Associates, an Elmer, NJ-based insurance and investment firm that began more than 30 years ago.