How To Take Risks

Do you know How To Take Risks?  Rewards come from taking a Risk.  Determining how much Risk to take and when to take risks can be the challenge.

One of my favorite conversations to have with anyone I admire is to ask them “What would you tell your younger self?” A quite successful friend of mine was quick to answer “I would have told myself to take more risks while I had no responsibilities.  Once you have car payments, mortgages, a wife and kids you just won’t take high risks and you can regret that you did not take more risks when you were younger and freer to do it.”

How To Take Risks

• Analyze Worst Case Scenario – when we look at what would happen if we took the Risk and we failed then we can see what we really think.  The very nature of taking a Risk is that you know it might not work out.  When we are ok with the outcome even if it does not come out as planned then we are empowered to take the Risk.
• Why?  Why do you want to take this Risk?  Is it from a strong and healthy place or is it because you are running from something or not being realistic?
• Why Not?  If you want to take the Risk but something is holding you back, what are your reasons to not take the Risk?  Sometimes when we look at it from this angle we realize we’re scared of the Risk because we are scared of living up to our potential.
• Nothing Is Etched In Stone – When I started my first business I was really scared to quite my job and put everything on the line.  A friend gave me a gift – a beautiful rock engraved with “Nothing is etched in stone.”  It’s one of my favorite possessions because it says it all.  You can always change your mind or do something different if you are unhappy with your choice.  Knowing this allows me to take more Risk.
• Regret – will you regret it if you don’t take the Risk?  It’s an important thing to consider.
• You Can Decide No – considering the Risk does not mean you have to take it.  You can always decide no.  You will feel so much better about your decision if you’ve really considered it from all the above angles.

Why Do You Want To Know How To Take Risks When You Are Young?

It is true that the more responsibilities you take on in life means that you will likely be less willing to take a Risk or big ones.  Youth is on your side when it comes to taking a Risk.  If you need help looking at the entire picture, check in with a mentor and find out what they see about it.

We’d love to hear your stories about taking risks and how it either turned into big rewards or what happened when it did not turn out as planned.  Send your stories to us at the Victory Zone.  If you have questions about taking risks, please send them over to us at the Drop Zone.

Photo: © Dreamstine