Mar 13 – Is the risk worth it? Are you considering taking a risk and unsure how to evaluate it or proceed? Do you tend to be risk averse, so any risk makes you nervous and anxious? Are you not even considering an opportunity because you view it as too risky? Have you taken a risk and it didn’t pan out as you had hoped, so you are skittish about taking any future risks?
In some industries, risk is inherent in the work being performed and must be an ongoing consideration for effectiveness and efficiency. In business, risk is necessary to effectively grow and advance. When taking anything to its next level, risk is necessary. Uncertainty can disguise a great opportunity as too risky. To better understand how to assess a risk, you must first embrace your own mindset associated with risk.
Take an MM&I Moment to awaken to how your mindset around risk may be limiting you. What do you consider to be too risky or not even worth considering in your business? Why? What is a current risk you are evaluating to determine if it is worth pursuing? What are the factors you are assessing? What input are you getting? What resources are you leveraging to confirm how risky it may or may not be? Is money a factor in it being deemed a risk? Are you viewing the expenditure with an expense mentality or an investment mentality? How are you measuring the risk and its potential return on investment of time or money? What may appear to be risky may not be as risky as you perceive once you have more facts and a basis for analyzing and weighing its potential. Some of the most impactful momentum building initiatives were because of embracing the risk that was involved.
Wide Awake Quote of the Week
“If you are not willing to risk the unusual, you will have to settle for ordinary.” – Jim Rohn
Yours in dreaming WIDE awake,
P.S. Need a deeper dive into assessing risk? Read our latest BizGrowth 5.0 blog entitled, Calculated Risk: Aligning Accountability, Productivity and Profitability. This blog highlights our Calculated RISKSM
model (ROI = Impact + Strategy + KPIs).
