However, ability to live with risk is very much a personal issue. Some business owners can live with more risk than others and some can manage risk better than others.

Having ability to effectively manage risk is imperative for a successful business venture. Therefore business owners need to be able to effectively judge how much risk is "acceptable" and which business ventures are inherently "too risky" and therefore perhaps harmful to business overall.

While all businesses must grow and change continually in order to survive, every time a business makes a decision to expand or increase its offerings, a modicum of risk does exist. Most businesses face risks when they incorporate new offerings into their current ones, take on new employees, when they change their marketing techniques sufficiently, or when they expand into new areas of business above and beyond general core or "parent" business.

Each time a new project, venture or offering is added to a business, "risk containment" should be employed. It is never possible to eliminate all risks completely, but containing risks to an acceptable level will enhance experience and keep overall losses at an acceptable level, if failure of new venture or offering does occur.

Business owners need to assess risk using following principles:

1. Is this risk necessary for further development of business? If so, why?

2. Is this risk attainable for business? If so, why?

3. Is this risk affordable for business? If not, then it shouldn't be done. A strict, realistic assessment of funds available and a budget should be worked out before a business embarks on any type of expansion or addition to its present offerings.

4. Is "timing" right for new addition or venture? Many times, if a business is experiencing a downward cycle or other financially stressful barriers, expansions or additions are best left for another period in life of a business.

Writing for your home based business just as important as any other kind of business writing. When you have an online business, you will be judged by quality of your emails, advertisements, articles etc as well as by textual content of your website.

I recently read an article in which author encouraged people to write articles in order to promote their home based internet business. The writer of this article was of opinion that punctuation, spelling etc, were not particularly important. His advice was to give your article a quick once-over with your PC’s spellchecker and then submit it without spending too much time on it or worrying unduly about finer details. To him, important thing was that you should write whether or not you had reached appropriate educational standard to be able to write correctly.

In an effort to keep up with modern trends, I considered this premise and attempted to embrace it. Maybe I am totally old-fashioned but, I couldn’t do it. I simply cannot accept this idea that we should treat business writing as a casual pastime, where articles are to be carelessly and quickly executed because they are of limited importance. Of course I believe that people should be free to express themselves in writing even if they lack formal education but I don’t believe we are helping them or ourselves by lowering our standards.