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Potential rewards and drawbacks for risk taking

Self-satisfaction and making a difference as rewards

Self-satisfaction is the sense of personal achievement or fulfilment an entrepreneur gets from running their own business. It is a feeling inside the entrepreneur, not money in the bank.

You might feel proud of building something from scratch: designing the product, finding the first customers, and solving problems you had never faced before. Seeing your idea become real, and knowing you made it happen, can be deeply rewarding. Getting better at practical jobs, like setting prices or keeping records, can add to that feeling of achievement too.

For example, Kai prints his own designs onto tote bags and sells them at a Saturday market. He makes only a small profit each month, but seeing a stranger carrying one of his bags across town gives him a real sense of achievement.

Making a difference or change

Making a difference means creating a positive change in a situation or for a cause. The entrepreneur may improve people's lives, help their local community, offer a product that solves a genuine problem, or support a charity or environmental cause. Any positive change counts, so it does not have to be charity work: a joiner who builds a sturdy bench for a village bus stop makes a difference just as much as someone who raises money for a cause.

For example, Sam repairs the chairs and tables in a village hall for a modest price. The hall can now host events again, and Sam knows his business is the reason the community has its meeting place back.

Telling the two apart

Self-satisfaction is about how the entrepreneur feels: the pride and fulfilment of what they have achieved. Making a difference is about the change that other people or a cause gain from the business. The two often happen together — Sam may feel proud of the restored hall — but they are separate reward categories, so the reward you describe should match the one you name.

Practise this

Cambridge National Enterprise & Marketing · 1.2 Potential rewards and drawbacks for risk taking