Tip Of The Day #89 - The Rewards of Risks
Barbara Steckly
The Rewards of Risks
“Only those who will risk going too far can possibly find out how far one can go.”
So said the American poet and literary giant, T.S. Elliot, and I have to agree. In fact, without taking risks, how can you grow your enterprise to maximum profitability?
How can you achieve the success you desire?
How can you avoid living no more than a small, limited, little life, if you don’t take a chance, and venture out of your comfort zone?
Taking risks is how we, as humans, grow and expand our horizons. Yes, the action could end in failure, but, again, learning from our mistakes is how we eventually find the RIGHT path to successfully achieving our goals.
If we let our fears hold us back, and we don’t even try, then we go nowhere.
Some careless mistakes can be quite costly, however, so, when faced with the opportunity to take on a new project, how do you judge when to sensibly hold back and rethink your approach, and when to boldly go forward and take that chance?
Make a list of all the positive things that could potentially happen if your project is a success. Then, on the other hand, compile the worst possible outcomes that could occur if everything blows up in your face.
Be honest. Can you, and your business survive the worst case scenario?
Yes!
Well then, you have your answer. It’s full speed ahead!
If the answer is no, then investigate how to adjust certain aspects of the project to reduce negative results.
In his book, The Seven Habits of Highly Effective People, Stephen Covey advocates using your imagination to visualize the outcome you desire, so you start your project with a clearly defined image of its ultimate success. In Covey’s words,
“All things are created twice. We create them first in our minds, and then we work to bring them into physical existence…begin each day, task, or project with a clear vision of your desired direction and destination, and then continue by flexing your proactive muscles to make things happen.”
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