September 28, 2006
Risk & Reward
What distinguishes an Entrepreneur is the business world is his willingness to take risks. His gambles do not always pay off, but even when they don’t, he learns valuable lessons that guide him in the future. What Entrepreneurs are great at is taking smart risks, and having a strong sense of the likely outcomes of their decisions. Entrepreneurs quickly learn that what others perceive as risks are often not actually risks at all.
For instance, many people are afraid to ask their boss for a raise and view this as a risky undertaking. The truth, however, is that asking for a raise poses no risk to you whatsoever. The worst case scenario is that your boss will say no. Similarly, introducing yourself to a new person and attempting to make a connection poses no risk. It may feel scary, but you have nothing to lose.
Risk takers view truly risky endeavors, such as changing jobs or moving into a new field, with caution and optimism. The more often they attempt to succeed in risky activities, the sooner they learn what their likelihood of success is in these attempts. If someone has moved rather seamlessly into new career areas and succeeded in them, he learns that he will find a way to survive and thrive in any new field.
The best way to develop your risk-taking skills is to take risks, increasing in size and scope. You will soon get a feel for how you handle risk and what can result.
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