Everybody is a Risk Taker…!!!
01 Feb 2017
It is often said that there are two types of people in the world; those who avoid taking risks and thus prefer to play it safe and those who are not afraid to take risks. The ‘risk takers’ sometimes do it just for the thrills but in some cases, people just don’t have a choice, some things just have to be done whether they are risky or not. The former prefer to go through the same routine of doing things traditionally while the latter prefer the impulsive and radical change of anything that is not working as much as they want. Thus, we end up with distinctions risk averse vs risk seeker or risk lover.
Risk taking is not just what you do because you love it or what you avoid because you don’t like it or are afraid; it is one of the realities of life that we cannot escape from. When you wake up in the morning and jump in a car to drive you are taking a risk because you never know what the driver in front of you or behind you is going to do. You simply trust and believe that the little line in between your lanes can keep you from colliding. It might therefore be the case that some people don’t go out seeking to chase tornadoes or take risks for fun but they encounter risks as part of everyday life. I could therefore argue that, contrary to popular opinion, everyone is in a way a risk taker.
Every remarkable success in human history is the direct result of a major risk taking by an individual or a group of people. Everyone who has tasted real success in life has reaped of the benefits of knowing the secrets of strategic risk taking. Bill Gates dropped out of college to build Microsoft, J.K Rowling wrote Harry Potter as a broke and desperate single mom and Sylvester Stallone wrote Rocky out of desperation of his poverty-struck life; their success stories came through huge personal risks. So, it appears to me that the real impediment to success is not necessarily that one is a risk taker or not, it is more about what size of risk one takes and how they manage the risks to achieve what they want and live their best lives yet. It’s all about strategic risk taking and strategic risk management. We are neither risk takers nor risk averse, what we are is either good risk managers or bad risk managers.
As a professional or an entrepreneur, how well you master this skill or risk management is a basic determinant of success and impact. Risk management is what separates the ordinary from the phenomenal; the boys from the men. Which one are you? In this post, I am going to give you three principles of strategic risk management that will help you escape from the fear of risks and from the folly of carelessness.
- The worst that can happen is a failure, but it’s not the end: Once this is settled in your mind, the fear of risks begins to lose its potency. Truth is that there are only two outcomes when you undertake something significant; it is either you succeed or you learn from your failure. As long as a failed attempt is not colossal or life-ending, risk taking is always worth it and the result is always positive whether it’s a success or a failure.
- Comparing the best with the worst: The critical point in taking risks the right way is being able to correctly weigh the best possible outcome with the worst possible outcome. A considerably high risk adventure is only as good as what you stand to gain if you succeed as long as it outweighs what you have to lose if you fail. It is even more important if what you are attempting is not only for yourself but will be of benefit to other people.
- Learn to cushion your risks especially when it involves other people: Sometimes when you undertake an endeavor you involve other people who will inevitably share in your success or failure. It is advisable to do your best to make sure that if things go wrong, other people will not have to suffer from the consequences of your failed attempt at something. Be prepared to take responsibility for the risks you are taking; don’t find yourself falling into the trap called “the blame game”. Take full responsibility and bear any losses but more importantly learn from it if it doesn’t work out. After learning, come back and try again, you can do it successfully the next time.
Choosing not to pursue your goals because of the risk involved can actually be a risk in itself; if you refuse to take risks, you are taking a risk and standing on the side of “mediocrity. Peter F Drucker once said,
[ctt link=”heGcf” template=”1″]“Whenever you see a successful business, someone once made a courageous decision” – Peter F. Drucker[/ctt]
Remember, if you are too careful in life, you may never amount to anything. A certain wise man once said,
[ctt link=”Y1nu2″ template=”1″]“I do not know the secret to becoming somebody, but I sure know the secret of becoming a nobody: attempt nothing!”[/ctt]
Never allow the fear of taking risks rob you of the greatness within you, set yourself free and take calculated risks. Be the best in the world at managing the risks that you face in your life and business.
My name is Wellington and I seek to share strategies for successful living particularly strategies for mitigating the various risks that we face in life, strategies that would smoothen our journey through life and increase our chances of success. I hope you enjoy this article. Feel free to share with as many of your friends as possible.