The Business of Business - Two Daughters & Their Dad
What do an insurance agent/nonprofit volunteer, a salon owner, and a financial advisor have in common? Well, they are all part of an entrepreneurial family that wants to help others turn their passion into business. The Business of Business podcast was created by an entrepreneurial family Staci, Jennifer & Jack Dempsey, just two daughters and their dad. Each week the focus is on the Business of Business. No matter what business you are in, or want to be in, the business of business is the same. Listen in for tips, tricks, and strategies for turning your passion into your business. The Business of Business podcast is sponsored by: Dempsey, Weiss & Associates (www.dempseyweiss.com), J. Faith Hair Studio (www.faithhairstudio.com) and Flying High Agility & Dog Training (www.flyinghighagility.com) Look for new episodes twice a month.
The Business of Business - Two Daughters & Their Dad
S6 E 11 Navigating the Risk Reward Spectrum in Business
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.
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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.