Taking risks can be scary for any of us because we are unsure of the outcome. But that could be said about many things in life, couldn’t it? We are not only limited to the “taking risks” aspect when being unsure of an outcome.
That said, we prefer to take calculated steps; the type of steps we feel we can monitor and control. Even so, taking risks shouldn’t feel scary to us. At least, not as scary as we sometimes make that out to be in certain situations.
Fear always makes thing scarier than they would have been if we had faced them head on, from the beginning.
In fact, taking that risk (assuming it is a valid risk and not something “too crazy”) should be embraced because it is the very thing that is going to take you over the edge in a good way. Ultimately, risk taking will lead you down a great path of success if you allow it, and here is why.
More Risks Means More Opportunity For The Business
It’s easy to tell yourself that it is better to take calculated steps than to take risks that produce no amount of certainty. But, what do you gain by keeping the same processes? A business owner must know when to take calculated steps and when to take risks in their business. The act of risk taking opens a whole new world of opportunity that you didn’t have before because you were stuck in your comfort zone. Also, you would not have known about it had you not taken the risk. At the very least, that risk is always a learning opportunity. That is something you would not have learned, had you stayed in your comfortable cubbyhole.
Sidebar: A Real Life Success Story!
If you want to check out a real life success story along the lines of not accepting the status quo, check out this story about how Anheuser-Busch became “top of their game” by expanding their game. The particular section you really want to pay attention to is called “Hitting it Out of the Park!” I think it is pretty safe to say that Anheuser-Busch wouldn’t have the success they have today, if it were not for their risk-taking approach to business. The question is, without that, would they still be around to challenge their competitors?
Taking Risks Strengthens You As A Business Owner
Taking risks builds strength as a business owner, which is a characteristic that is necessary for all owners to have. Essentially, a business owner also acts as a leader and a leader must know how to channel their fears if it can potentially get in the way of a successful outcome. The more you can take risks for the sake of your business, the more you will be able to overcome obstacles that your business falls prey to in your future. More importantly, you will become a more confident business owner that will better understand what steps are needed to take in order to get ahead in business.
People can’t help but respect confident leaders and managers. Does that mean that it will always work in your favor? Not necessarily, but if you understand that, going into the situation, you are better prepared. I have found that the returns on investment (ROI) that you get taking the risks and succeeding far outweighs anything that doesn’t quite go as perfectly as you had planned.
We Overestimate What Can Go Wrong
A bad habit that many people have is the overestimation of what can go wrong. This is especially true for business owners, as they have a lot on the line. Business owners have to learn that the consequences of any risk are never as large as what they believe in their minds. If you use the potential consequences of risks as a chance not to take them, you will only find that this will be more of a hindrance than a help because it is unlikely that your business will progress without taking a risk in some area. Remember that cubbyhole? That is where you are headed, permanently, if you spend all of your time imagining what could go wrong instead of moving forward in what WILL go right!
Risk Taking Separates You From The Status Quo
One of the main reasons why businesses are fearful to take risks is because the people that surround them remain the same. Sound familiar? In other words, the people are “status quo people.” Is that what you want? Do you want to have a company that is stuck in the mud because people cannot see past their challenges to succeed beyond their wildest dreams?
This is your opportunity to challenge your team (even challenge your competitors), in a good way. And, if your team is truly that unwilling to move forward, maybe it is time to find a different team. It is amazing how many will venture down that road of taking risks when faced with that A/B decision.
Risks Are What Take You Over To The Next Level
Taking risks challenges business owners and progresses them forward. Risk taking keeps business owners on their toes and can take the business to new heights. This is essentially why every business should embrace what risks have to offer them. You never know if the subsequent risk you take will be the risk that takes your business to the next level (and the next century!).
No matter how you may feel about taking risks, it is inevitable if you want to continue to elevate your business. Start changing your perspective on what risks are for your business and accept it for what it truly is: a catalyst for success. Still not convinced? Here is a Huffington Post article that has some of the same reasons and lists some people who had “failures” that they turn around because of their ability to take risks. Every successful business has taken risks in some area because they knew that in order to reach and increase their success level they had to step out of their comfort zone, break boundaries, and be unconventional in their approach. Now it is your turn. Are you ready?