What if the real barrier to your success isn’t risk but uncertainty? Dr. Matt Rutherford, John de Pope Chair in Entrepreneurship at Oklahoma State University, joins host Andrea Marquez to redefine risk for founders and show you how to make every risk you take more manageable. You’ll get to hear the six types of entrepreneurial risk, learn why distinguishing risk from uncertainty is crucial, and discover how pinpointing the risks you face can actually tilt the odds in your favor. By the end of this episode, you’ll have a simple framework to spot, measure, and hedge risk so that your next big leap feels less like a gamble and more like a calculated step forward.

Got a bold leap of your own? Share it with us in an Apple Podcasts review, Spotify comment, or email us at thisissmallbusiness@amazon.com – you might hear it in a future episode.

In this episode, you’ll hear:

(01:29) Ever felt entrepreneurship wasn’t for you? Andrea and Matt share how family and early doubts made them think twice about starting a business – for now.

(06:18) What’s the real difference between risk and uncertainty? Learn why risk can be quantified and how that clarity fuels confident decisions.

(08:53) Which six risks should every founder know? Discover which risks apply to your business and how to spot them before they blindside you.

(12:16) How do you turn uncertainty into risk by diversifying? Practical tips on expanding products, channels, or personal investments.

(15:26) How can small tests tilt the odds? Discover the low-cost experiments that validate ideas without blowing your budget.

(16:30) How do you embrace the upside of risk? Discover why focusing on opportunity instead of fear can turn setbacks into springboards for growth.

(20:03) Can you start a business even if you’re risk-adverse? Matt shares how teaming up with his wife turned caution into confidence and helped them start a small business together.

(22:46) How do you overcome the fear of risk and just start? Matt lays out three ways you can take a calculated leap forward: suck out every risk, enlist trusted voices, and run small experiments.