Embracing risk at times of uncertainty pays dividends

Embracing risk at times of uncertainty pays dividends

Baker Creative > Blog > Business > Embracing risk at times of uncertainty pays dividends

To grow, you need to take risks.

Otherwise, it’s the same as always walking in place rather than moving forward.

Many people may be hard-wired to be fearful of risk, so it is important to adopt the viewpoint that you’re willing to take a measured, minor risk to build confidence to then take bigger risks on a bigger stage. Even a measured risk is still a risk and it doesn’t need to be reckless to prove a point.

Risks apply both to your business life and your personal life. Taking an adventuresome leap in your personal life just might give you the incentive, confidence and momentum to fearlessly tackle head-on the work project that you’ve been dreading.

People who strive to be better are taking risks. They are out of their comfort zone. But even if it makes them uncomfortable, they do not allow their fear of failure to deter them or hold them back.

Risk taking and managing risks can be a fundamental component of a company and managed successfully and responsibly through established processes, pertinent tools and selected performance measurement metrics. Doing so will enable an organization to break the mold of what they’ve been doing and add a new layer of operational success by managing strategically all the while uncertainty is staring you in the face.

Some companies view their preferred manner of risk-taking endeavors as entering markets where their competitors don’t go and flipping it into a competitive advantage. Being able to refine your processes and performance without competitors breathing down your neck will assist you in becoming more precise and confident as risk becomes ingrained as part of your company’s fabric.

When viewed through the lens of risk, you can strategically plan for building capacity, sourcing materials and enhancing operational efficiency. Management practices can be implemented while your company’s visibility increases and your product line audited to determine what items to ideally offer as focal points while your scale increases.

While you create a presence, you’re building value. By welcoming risk, you’re providing a direction and welcoming exploration of a company’s business practices and performance. Before you know it, your organizational practices are refined and you may be compared favorably with other firms that intimidated you before.

It takes time to become comfortable with risk. Making sure your risk is focused is important and will help you take steps toward reaching your goals. Your initial risk does not need to be a willing leap from a perfectly good airplane. It can simply be branching out and trying something new that proves you are not letting fear of failing hold you back.

A learning opportunity may include failing. Think of what engineers do with trial and error. They take chances, see what works and what doesn’t, and then refine the applicable thought processes from there. Fear of failing is failure, too. Reframe your fear of failure as focusing on what you can learn today.

Start small and gain confidence. When you find yourself saying, “Well, that wasn’t so bad” after successfully taking a small risk and living through it, you won’t be so overcome with reluctance when a bigger risk is presented to you. Rather than being focused on potentially failing, focus on what you learned from the experience.

Change can be feared, but also can be a big motivator if you let it. Adopt a “try again” mentality when things don’t go exactly as you hope and consider each attempt as a learning opportunity to grow. You can’t avoid change, but you can be open to receiving and managing it.

Rely on the positive players in your life. People who help you positively measure your success are important to have in your life, both personally and professionally. Surrounding yourself with people like this can be continually encouraging. They will keep you moving forward step by step on your chosen path to success with a supportive approach, much like a research & development team or physical therapist celebrating small milestones of improvement right along with you.

What is your next risk? The possibilities are endless. The results may surprise you in a wonderful way and encourage you to take another courageous step.