Since it is the function of the enterpriser to combine land, labor, and capital in such a way as to make them productive, it naturally follows that he must assume all of the risks involved in his undertaking. Modern practices require him to enter into binding contracts for the factors of production before he has prepared a single unit of his goods for the market. One about to undertake the manufacture of cloth, for example, must rent or purchase a site for his plant, must construct factory buildings, and finally he must agree with cloth-weavers to pay them certain wages. The farmer has similar experiences. He buys or rents land, prepares the soil for seeding, plants, and cultivates. He may or he may not reap crops sufficiently valuable to pay for the costs involved. Whether or not he does, is no concern of land, labor, and capital; that is, each of these factors is protected by a binding contract with the enterpriser. Every enterpriser must take these risks; otherwise enterprisers would not be enterprisers. The importance of risk-taking is overlooked by many, who, blinded by the brilliant successes of some enterprisers, assume or pretend to assume that the typical business man's reward in the form of profits is always unjustified. Herein lies the weakness of any system that would eliminate the enterpriser from industry.