There is a direct correlation between the amount of Risk Taken and the amount of Return Expected. Financial Analysts will tell you that Risks = Return (Higher Risks = Higher Returns and vice versa). However…having lead a couple of businesses and lectured in Project Management, I have come to the conclusion that the key in Risk Taking is; “mastering the art of managing risks better”. It is true – Risk is not a wild animal that cannot be tamed!
In fact, making “everyday” decisions in our life involves Risks! But because these decisions are “trivial and small”…we simply don’t think about it…as it becomes second nature and routine – driving to work, cooking a meal in the kitchen, taking a shower. If you really think about it…you could possibly get injured doing any of the above 3 examples! (Did I hear a light bulb moment there?)
So what happens to us when it comes to “NON-everyday” decisions? Why do we just STOP at our tracks and become cautious…numb…and stuck? Is it Fear? Is it Not Knowing the Outcome? Is it simply a Lack of Self-Belief? Well…don’t fret; it happens to the best of us.
Let me share some quick “What-2-do Strategies” when faced with a Risky Moment or Decision Point…
- Get Relevant (More) Information
- Evaluate the What-Ifs
- Talk to an Expert (Others who have done it…Well)
- Stay away from Dream-Killers (in the form of Negative people, etc)
- Set Clear Objectives and Goals
- Check your “Action” Barriers (e.g.: a Bad Past Experience?)
- Project the End-Benefits in your Mind
- Get Clarity of Heart (Linked with your Passions)
- Believe in Yourself (and Your Ability)
Incidentally when I was living in Australia in 2009, I bought a 1999 Saab 9-5 car…it was a Risk, especially when the whole world around me says to get a Japanese badged car which is more reliable, ya-da…ya-da…ya-da. I chose this car after much evaluation and going through the above Strategies. And now I dare say I have “peace in my mind and heart” that this is the Best Choice given my budget, needs and my love (vs. fear) of owning a Continental car. I’ve done it again in 2010, by buying another Continental…a Volvo. ; )
Have you ever taken any risks in your life?
As one saying goes “If you win, you will be happy; If you lose, you will be wise. Nothing Ventured, Nothing Gained.”
I challenge you today…if you are at a Crossroad of an apparent Risky/Critical Decision…be Bold and Look Risk in the Eye…and say “BRING IT ON!” (of course, please do your ground-work looking at the Strategies above).
If still uncertain, you can always call me up and I can Coach you to Believe in Yourself! (and you’ll be glad to know that I have done this many a times and have been very successfully too) ; )
Go on…take that Risk today!