What would be your first thoughts if someone told you, “Take a risk?”
Would it bring feelings of excitement, anxiety, happiness, fear, joy, or apprehension?
In our culture, many people have a negative view of the word risk. People spend their entire lives avoiding risk for several reasons.
As children, I remember adults discouraging my siblings and I from taking risk during our playtime. We have read cautionary nursery rhymes like Humpty Dumpty, Jack and Jill, Row Row Row Your Boat, and many more that were suppose to teach of lessons about avoiding risk.
Although we are taught these things as children, these same lessons help to condition our minds as adults in risk-avoidance.
Yes, people are still taking risk, but many are avoiding risk.
A prominent client and I were talking about different people in various industries who were willing to take risk. There is a certain mentality that comes along with taking risk. Inc. speaks about this in their published blog of Why Risk-Takers Do Better in Business and Life.
Are you a risk-taker or are you risk-averse?
It directly affects your success in all the areas of your life.
So you may be asking yourself the question, “When do I take risk?” You should ask yourself the following simple questions:
1. What is the best thing that can happen if I take this risk?
2. What is the best thing that can happen if I don’t take this risk?
3. What is the worst thing that can happen if I take this risk?
4. What is the worst thing that can happen if I don’t take this risk?
After answering these simple questions, you will know whether you need to move forward with taking a risk or not. If you are going to move forward with taking a risk, then you must get more detailed by asking yourself the Five W’s and One H.
- Who, including you, will be affected by the risk?
- What type of risk is it?
- When will you take the risk?
- Where are you now? Where do you want to go?
- Why are you taking this risk?
- How do you plan to take this risk?
After answering the four simple questions and the Five W’s and One H, you will have better insight whether you need to take the risk or not.
These strategies work great for business leaders due to the risk we have to take daily. However, this not only applies to business leaders, but any person faced with taking a risk.
Some risks are more “risky” than others, but this blog gives you a systematic way of breaking down your risk and acting on it. Give me feedback on how this will help you with taking risk.
Taking risks should not have a negative connotation when it is done the right way. On the contrary, taking risks should be acknowledged as boldly leading. As leaders, we should be leading boldly with ingenuity, new perspective, insight, and a thinking-outside-the-box attitude.
So, I challenge you to boldly lead by taking smart risks.
I wish you best, now go out and take a risk!
Question: What risk do you need to take? Leave your comments below.
Peace and Prosperity,
MTN Universal, LLC