I had a conversation with my mom recently about an apparel retailer that is going out of business. She had attributed their fate to a declining economy. My own take: the clothing was staid–and there’s a limited market for boring. The company never took a risk. It didn’t try to refresh, modernize, reinvent for changing styles.

Successful businesses don’t sit still.

There’s a reason abandon is one of my 3 words for 2012.

There’s a terrific piece on Inc.com about taking risks and making mistakes. Author Paul Schoemaker points out:

If you have ever flown in an airplane, used electricity from a nuclear power plant, or taken an antibiotic, you have benefited from someone’s brilliant mistake. Each of these life-changing innovations was the result of many missteps and an occasional insight that turned a mistake into a surprising portal of discovery.

His point: you have to take risks, and test things, and be willing to fail (i.e., make a mistake). It’s a short article and well worth the read.

Photo by Brett Jordan (Flickr).

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©2012 Independent Thinking. All Rights Reserved.

Thinking of going independent or starting a business? Before you quit your day job, here are a few “top of mind” things to consider:

• your risk tolerance
• your comfort level with doing business development
• your level of discipline
• your value proposition (why clients should hire you instead of all the other solo practitioners in the marketplace)

As a would-be entrepreneur, you should also develop a business plan right away–before taking any other steps. Developing a business plan will force you to focus on your goals and what is aspirational, what is achievable in the shorter term, and what resources it will take to succeed.

Have you signed up to receive the Independent Thinking newsletter? Now’s the time! Once a month I’ll send you exclusive, subscriber-only content highlighting interesting articles I’ve found, as well as tips on marketing, social media, and how to grow your business. Sign up today!

©2012 Independent Thinking. All Rights Reserved.