How taking the right risks can accelerate your business growth

Entrepreneurs tend to be an adventurous bunch. After all, starting a business always involves a degree of uncertainty, and that’s part of what makes it exciting. It takes guts to back yourself without knowing exactly how things will unfold.

But as your business grows, the stakes shift. Some risks turn out to be distractions or dead ends. Others unlock serious progress. The challenge is learning to tell the difference and knowing when to act.

This guide is for early-stage entrepreneurs who want to grow their businesses based on solid and strategic risk assessment. We’ll cover the types of risks that lead to real progress, with examples from businesses that have made daring (but smart) moves, and offer practical ways to take bold steps that unlock growth.

5 types of high-growth business risks worth taking

Not every risk is going to move your business forward, and a key part of growing your business wisely is being able to distinguish between a risk that opens doors and one that drains your time, energy, or money.

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Fortunately, it’s not all guesswork: certain types of risk appear repeatedly in stories of growing businesses. So, here are five risks worth paying attention to if you want to accelerate growth sustainably.

1. Market expansion risks

Reaching new customers often requires stepping into new markets, geographies, or demographics, and that usually involves uncertainty. But done thoughtfully, it can lead to significant growth. The strongest market expansions tend to build from what you already know: existing customer feedback and complaints, demand patterns, or informal inbound interest from outside your core market.

That’s exactly what prompted Snag Tights to take a risk most fashion brands avoid: it listened to real customer frustrations with sizing and redesigned its entire product range based on actual body data. Instead of relying on the fashion industry’s “standard” sizing, the firm created 80+ size combinations, ran inclusive marketing campaigns, and built a fiercely loyal community.

It was a risk, for certain, but it made Snag Tights stand out. And with minimal advertising but maximum word of mouth, the gamble built a business generating over £3 million in sales per month in just three years.

2. Technology investment risks

It can feel uncomfortable to introduce a new technology or tool into your business, especially when the price tag makes your eyes water. But if that tool helps you reduce costs, speed up delivery, or offer a better customer experience, it’s worth considering – even more so if you’ve seen pain points building over time.

When fitness apparel brand Gymshark was still a small e-commerce business run out of a garage, founder Ben Francis made a big call: to stop dropshipping generic gym wear and start designing and manufacturing it in-house.

That meant investing in machinery, technology, and supply chains – all before Gymshark had massive demand. But this early move gave the firm far greater control over quality, pricing, design, and brand identity. It also set the foundation for Gymshark’s rise to a billion-pound brand with a global following.

3. Talent acquisition risks

Hiring someone senior before your business feels “ready” can be a stretch, both financially and emotionally. But the right person can bring valuable experience, help you avoid expensive mistakes, and support you in pushing your business to the next stage. And many founders say one great early hire – often an operations, marketing, or finance expert – freed them up to grow the business. 

To spot beneficial strategic risks, look at where you’re stuck or spending way too much time. Are there any areas of your business that would benefit from expertise and skills you don’t have yet?

4. Product innovation risks

You’re always going to face risks when you launch a new product or make a big change to an existing one. But when your plan’s rooted in real customer need, and tested thoughtfully, innovation becomes a tool for standing out – and for charging more, retaining customers longer, or entering new spaces ahead of competitors.

Bloom & Wild, for example, took a big risk early on by building its entire business model around one bold and novel idea: flowers that could fit through a letterbox. At the time, that meant rethinking traditional flower arrangements, packaging, and even the standard delivery process. Would people go for it? Would the flowers survive the post?

Customers loved the ease, which set Bloom & Wild apart from every other florist. The firm’s bet on smarter delivery helped it scale across Europe and build a beloved brand.

5. Strategic partnerships risks

Collaborating with another business is a key way to accelerate your business’s growth, whether it’s through co-marketing to shared audiences, bundled offers, or co-hosted events. But partnerships inevitably pose some risks, too, and factors like misaligned goals, unclear roles, and effort can waste time, hurt your brand, and even strain relationships.

To spot the right opportunities, ask: Who already serves this target market in a different way? Whose values and tone align with ours? And remember: strong partnerships typically offer mutual benefit without direct competition.

So, start with one small risk – a cross-promotion, guest content swap, or simple referral agreement – and test the waters before you commit more time or resources.

Why strategic risk-taking accelerates business growth

The businesses that grow fastest tend to learn faster than their competitors. And learning tends to happen when you stretch – when you act, not just plan.

Here’s how well-chosen risks can help:

• First-mover advantage – Acting early lets you stake a claim to a market before others get there.
• Faster feedback loops – New moves let you learn from real-world data and iterate quickly.
• Sharpened focus – Taking a smart, calculated risk in business forces you to commit, prioritise, and execute at speed.
• Stronger networks – Strategic risks often help businesses draw attention from partners, investors, and peers.

Taken together, calculated risks help build agility, resilience, and momentum. They sharpen focus, unlock new opportunities, and accelerate learning, even when every outcome isn’t perfect.

Evaluating risks for growth potential

Risks can be valuable, but not every opportunity is worth the leap. To assess whether a business risk is worth it, ask yourself:

• Does it align with your long-term goals?
• What’s the best-case outcome? What’s the worst? Can you handle that worst-case scenario?
• Do you have (or can you get) the skills, tools, or people needed to execute?
• What happens if you don’t take the risk? Will you lose ground? 

Use these questions to sort your ideas into three groups: not yet, test it, and go for it.

High-potential, low-complexity risks are the sweet spot. But don’t automatically ignore the trickier ones – break them down. Start small. Test your assumptions. And build up confidence before going all in.

Timing your growth risks

When you take a risk in business can be just as important as which risk you take – after all, the right move at the wrong time can still backfire. So, ensure you’re making moves that fit your business’s current stage.

During the startup phase, entrepreneurs generally focus on considerations like product-market fit, early customers, and basic operations. That’s when you might:

• Test new pricing models to determine what your customers are willing to pay and where you might be leaving money on the table.
• Run lightweight marketing experiments to quickly learn which channels, messages, or offers generate the best response.
• Try out different messaging to refine how you explain your value and better connect with early users.
   

In the growth phase, on the other hand, the risks shift:

• Hiring your first manager or specialist to bring in expertise that frees you up to focus on strategy and growth.
• Expanding into new markets to unlock new revenue opportunities beyond your initial customer base.
• Investing in scalable systems or partnerships to support increasing demand without overloading your existing operations. 

Your timing should also account for your runway, revenue stability, and team capacity. If things are stretched thin or cash is low, it’s not the time to take significant risks. But if you’ve got momentum, resources, and breathing room, then that’s your moment.

Building your risk-taking framework

You don’t need to be a natural risk-taker. You just need a repeatable way to spot opportunities, assess them, and act.

Here’s a simple risk-taking framework:

1. Scan regularly. Look for growth bottlenecks or upcoming shifts in your market.
2. Keep a shortlist. Maintain a running list of possible growth-accelerating risks that you’ve assessed but not yet acted on.
3. Set boundaries. Decide what you’re willing to spend – time, money, focus – and stick to it.
4. Track outcomes. Write down what you tried, why, and what happened. Build a habit of learning.
5. Review and reset. Every quarter, reflect on which risks paid off and which didn’t. 

Dedicate 10-20% of your energy or budget to calculated growth bets. This helps you stay ambitious without derailing the day-to-day.

Use risk to scale your business

Businesses that grow fast – and last – don’t just manage and avoid risk. They leverage it, make space for it, and improve it over time.

So, start small. Take one thoughtful risk that’s grounded in your strengths and has a clear benefit. Each successful risk helps accelerate your business growth and reduces uncertainty in your next move. Then keep going.

You don’t need to gamble to grow your business, but if you avoid risk entirely, you’ll end up stuck. The real danger is often playing it so safe that you miss the chance to build something great. 

If you’ve been thinking about starting a business, remember this: every calculated risk depends on taking that first step. For many aspiring entrepreneurs, that means registering a company. When you’re ready, we’re here to take care of the setup, so you can focus on what comes next. Head over to our homepage to see how we can help you set things in motion.

Have a question about this article or need support with your company setup? Leave a comment below – we’re happy to help.