Are you a risk taker? If not, you probably believe that this personal characteristic has a negative connotation. Perhaps you think that risk takers are irresponsible, rash, accident-prone and dangerous. Well, I believe just the opposite – that there’s far more danger in NOT taking risks in life.
Imagine how different our world would be if people never took a chance. Would we still believe the world to be flat if Christopher Columbus had not set out to sea? Would we be as productive and connected if men like Bill Gates and Steve Jobs had not invested their fortunes and their reputations on radically different ideas? Would we still be listening to Madonna if she hadn’t taken risk after risk in reinventing herself?
Risk takers have helped advance our society. And a hearty dose of risk taking can help anyone move his or her life forward. So why don’t more people feel comfortable taking risks?
Sure, our genetics, upbringing and even our education shape our tolerance and propensity to take risk. But ultimately, I believe it is FEAR that keeps many from being successful risk takers.
What are you afraid of? Starting a small business? Investing in a new venture? Hiring the wrong talent? In my work with small and mid-sized business owners, I coach clients on these 5 strategies to risk taking success!
1) EDUCATE YOURSELF: Everyone is afraid of the unknown. By thoroughly analyzing a situation and researching all potential outcomes – good and bad – you can remove one of the major components of fear from the risk equation.
2) THINK WORST-CASE SCENARIO: If you take the risk and fail, how badly will the failure affect your life. And how would you plan to recover from it? Once you figure this out, compare it to your current situation. In most cases, the worst-case scenario is better than the current status quo. (And be realistic; how stable is the status quo? Are you going through the motions of life with a false sense of security?)
3) EMBRACE THE EXPERIENCE: Randi Pausch famously said, “The person who failed often knows how to avoid future failures,” Great personal growth and learning accompanies all failures.
4) PREPARE FOR PLAN-B: Hedge your bets and soften the potential blow of failure by having a backup plan. Intelligent risk takers are not gamblers, they make arrangements to manage time and money wisely. In this way, risk is managed, too.
5) TAKE BABY STEPS: If possible, dip your toe in the water before jumping all the way in. This is a safe way to gauge whether you will ultimately sink or swim. In business, this often requires long hours and a double dose of dedication. But it is a low-risk approach to overcoming the fear of failure.
As a self-proclaimed risk taker, I know I could not be personally fulfilled and will never reach my ultimate destiny without taking risks. And in my opinion, there is nothing worse than living with regrets and should-haves. If your fear is a major mental roadblock to your future success, explore these strategies and start taking more risks, today.
Gail Tolstoi-Miller is an award-winning entrepreneur, CEO, career coach and staffing strategist. Her companies, Consultnetworx and Speednetworx are focused on connecting people for mutual fit and success. The firms’ new division, Careernetworx, will soon provide job seekers with exclusive access to training portals and career coaching services. Gail’s first book, Networking Karma was released earlier this year.