The risks aren't in entrepreneurship, they're in you. That's the long, the short, and the medium length.
I know this is hard to grasp, because it's counter-intuitive, but it's true.
My entrepreneurship approach is extremely low risk. (That sob story above was from consulting. Anyone can get taken by a conman.) It's a SaaS we built in our part time.
My business is growing 15-20% in revenue each month; even if we didn't touch it again, it'd earn more than $120k in the next 12 mos, but since we are working on it, by the end of 12 mos I expect our outlook to be greater than half a million for the year ahead of that.
See, I'm not worrying about "externalities." I'm not looking for funding or partners. I'm not trying to get somebody other than my customers to approve of what I'm doing and pat me on the head. I'm not trying to get bought (in part because I've seen how miserable people are after their startups are bought, they become employees again, watch BigCo destroy everything they've built.)
The only thing I'm gambling with is my time, and honestly, I've wasted more time sitting on my ass being sorry for myself than I would have wasted on this product if it fell apart tomorrow.