Reiss goes on to discuss skills entrepreneurs need, including salesmanship and communication ability. He includes decision-making as a key skill, pointing out that entrepreneurs who act quickly have the edge. He favors making business decisions intuitively, providing you have experience and knowledge which gives you valid intuition. He points out that risks aren't the same for everybody and uses the example of a gymnast on a balance beam. The difference, of course, is preparation and ability.
Risk is variable , depending on who's taking it.
The lesson is that experience and personal contacts lessen risk. He does an especially thorough job discussing cash flow, which includes a nice cash-flow example in an appendix. Reading this is well worth any new entrepreneur's time. Then, cash flow will become important to them. Low Risk, High Reward includes an appendix giving very complete details of one of Reiss's company's experiences with TV Guide Trivia Game , which is used as a case study at many business schools.