In this article you will learn the following
- -9 paradoxes of life associated with and helpful in understanding risk-taking - through natural-laws
- -15 examples of every day risk taking
- -9 types and degrees of risk
- -23 Risks successful and Happy People Take Every Day
- -20 Benefits of taking risks
- -19 Types of Risk entrepreneurs take
- -18 simple Risk analysis tips - for individuals
- -28 mental-emotional barriers to risk-taking
- -42 Steps How to take risk in through healthy, planned-well and prepared-for process - in your personal-life, business-venture or in going for changing your professional-field completely
- -20 Simple practices examples - you can use to enhance your risk-taking capacity
How to take risks in life
Importance of risk taking, advantage of risk taking in a business, risk-taking in entrepreneurship.
If you are bored, feel restless, function on auto-pilot mode without much passion for whatever you are doing, do not have sense of accomplishments or don't feel successful – chances are you are operating within your self-created cocoon of comfort-zone.
Very few people understand what effective and calculated risk-taking is and fewer still actually go and take risks which are necessary to grow beyond average.
Many people confuse risk-taking with gambling or betting - and which happens through pure chance and done on impulse.
People work on all or nothing principal - this philosophy and may work for 1 person among millions.
Then there are people who interpret their feeling of being uncomfortable when thinking of taking risk by stretching their neck out - with their intuition and gut-feelings - telling them not to move or go ahead with that particular risk.
No action is without any risk [including not taking any action or decision] – even breathing can turn out to be extremely deadly [especially if you are living in the polluted places like New Delhi especially in winters].
Whether you are leaving your job, starting your own business, getting-married, proposing, expressing your views, say no to people, accepting favor from others or even claim your rights – all have some degree of risk.
People who understand, learn and practice - how and when to take risk - grow hugely bigger than those who play safe and do not stick their neck out.
9 paradoxes of life associated with and helpful in understanding risk-taking - through natural-laws
- 1.To be happy – you must experience pain and sadness
- 2.To be successful big-time – you must go through a series of failures and bounce back
- 3.To grow larger than life – you must - take risk and incur loss in few ways and aspects
- 4.To be able to retire in peace – you must work very-very hard almost whole life
- 5.To experience true love – you must experience heart-breaks and rejections
- 6.To get from others – you must first give
- 7.To be a great leader – you must become a great follower
- 8.To be able to meditate – you must first become calm [yes, yes I know – most common perception is that meditation helps you to be calm –but the truth is that you can never meditate - when you are agitated and only when you actually learn to mediate properly and reach the master's level – you might not become agitated again]
- 9.To be able to value anything [wealth, money, love, relationship etc.] – you must experience deprivation
15 examples of every day risk taking
- 1.Going for unchartered or un-mapped territory
- 2.Risk getting turned down in job, in love, when asking for favor
- 3.Failing while taking-action towards your goals
- 4.Putting all fortune on some venture and become bankrupt
- 5.Sacrificing or postponing gratification for achieve something greater.
- 6.Making a mistake when doing something new or of uncertain nature
- 7.Losing out to better competitor
- 8.Going ahead with your ideas - before the time is right - and thereby not getting the success you deserve
- 9.Being judged by others - which will happen on every day basis - anyway
- 10. Accepting your ignorance in public
- 11. Expressing your feelings to others
- 12. Sharing your weaknesses with others
- 13. Trusting someone
- 14. Trying to make others understand you
- 15. Asking for favors
- 16. Making simple statement - yet getting misunderstood
- 17. Challenging experts and others
- 18. Being vulnerable
- 19. Expressing your need
9 types and degrees of risk
- 1.Dumb and Stupid Risk - when you know doing something is harmful and YET you do it OR when you are showing-off something being trying to be someone else
- 2.Dangerous Risk - rash driving, taking physical challenges just impress someone because you have seen someone do it OR doing something you are not trained for
- 3.When you Risk - to become the office-clown
- 4.When you bank on GOD - in doing something that you feel you won't get got - as no one is looking
- 5.Risk of venturing into uncertainty
- 6.Risk of trying to create disruptive change
- 7.Recreating your life when you have hit the bottom
- 8.Gambler's risk - when you risk everything that you have on one ALL or nothing - bet, venture, idea or project
- 9.Changing career from well-established to something unknown because you have passion for OR going for a startup leaving a well-paying secured job
23 Risks successful and Happy People Take Every Day
- 1.When you love you risk the possibility of being hurt
- 2.When you are being yourself
- 3.When you risk and put efforts on long-term dreams
- 4.When miss out on present pleasure to appreciate what you have
- 5.When you risk by sharing your ideas and dreams - in the face of being ridiculed and laughed at
- 6.When you help others without expectations
- 7.When you take full responsibility and accountability for your own choices, decisions, actions and consequences
- 8.When you risk living the life you want it
- 9.When you take intuitive and responsibility - when no one would come forward
- 10. When you risk accepting the consequences of taking actions
- 11. When you risk going out of your comfort zone in favor of growth
- 12. When you take steps in in area of unknown by experimenting
- 13. When you go ahead with the risk and the possibility of failing
- 14. When you risk challenging yourself and your assumptions
- 15. When you get in touch with yourself - to see objectively your flaws, weaknesses as well as qualities and strengths
- 16. When you risk by seeking the feedback about you are ready to face the truth
- 17. When you risk restarting afresh from scratch
- 18. When you risk letting go of toxic people
- 19. Risk not being good enough.
- 20. Risk putting yourself out there and being judged.
- 21. Risk admitting that you don't know something
- 22. Risk sharing your weaknesses
- 23. Risk opening up and being vulnerable
20 Benefits of taking risks
- 1.You learn new skills
- 2.Helps you to overcome the fear of failure
- 3.Empowers you to break through self-imposed mental-limits
- 4.Gets in you the amazing mindset of - challenging and conquering yourself
- 5.Makes you more creative and resourceful
- 6.Helps you clearly define what you really want
- 7.Helps you uncover unforeseen opportunities
- 8.Boosts and makes your self-confidence grows
- 9.You develop trust and belief in your abilities
- 10. You start appreciating and accept the fact that you don't achieve your dreams by playing it safe
- 11. Generate New Possibilities - because - Great, otherwise unforeseen opportunities often come from risk-taking.
- 12. Taking risks shows confidence and helps you stand out.
- 13. We learn from risks — and those lessons may lead us on an important, new path
- 14. Success never happens just like that — you have take actions
- 15. No one has ever achieved their dreams by playing safe
- 16. Forming the habit and comfort with Risk-taking helps you overcome a fear of failure
- 17. Risk-taking raises your standards
- 18. Risk taking is also one of the best ways to learn
- 19. Risk-taking makes you very adaptable to changes
- 20. Risk taking makes you recognize and correct the mistakes
19 Types of Risk entrepreneurs take
- 1.Market risk – changes in the customer's needs and preferences
- 2.Risk of competition
- 3.Global giants entering your market with their vast resources
- 4.Not able to engage your customers meaningfully and sustainably
- 5.Failing to create buy-in
- 6.Failing to build credibility
- 7.Risk of technology making your ventures obsolete
- 8.Financial risks - interest risk, foreign exchange risk, stock market risk, Credit risk
- 9.Environmental, political and legal scenario changes
- 10. Me-too idea failures
- 11. Speculative Risk
- 12. Liability risk- products liability, premise liability, employment practice liability, reputational risk
- 13. Innovational or technical obsolescence risk
- 14. Brand losing awareness and prominence
- 15. Operational risk: mistakes in process or procedure that cause losses
- 16. Intellectual property violation risks
- 17. Public relation risk
- 18. Inflation and recession risk
- 19. Physical damage risk at their facilities through fire, flood, weather damage
18 simple Risk analysis tips - for individuals
- 1.Calculate and assess your risk by examining facts and thoroughly weighing benefits, probability and loss and never base it on your level of fear
- 2.Ask yourself
- I.What would be the impact on Your future, if you do not act on - what makes you scared – yet those things you want to be, want to have or want to do
- II.Is your fear of failure causing you to magnify the size and probable negative impact of risk - if you fail
- III.Are your under-estimating yourself - holding you back from taking risks that would help you grow
- IV.If in future - you happen to reflect back and see this part of life - would you be happy, proud and satisfied with yourself of not taking these risks Or you will have regrets of having not taken these risks
- V.What are the worst things - that could happen - if you go ahead and take this risk
- VI.What is the likelihood of this happening
- VII.If what you fear does happen - would you be totally devastated and will have great difficulty in recovering or you can plan to mitigate and minimize the impact in case worst fears comes true
- VIII.What changes in plans you should make to make it more robust to handle exigencies
- IX.Should you act on your proposed plans - based on your aforesaid reflections
Are there any benefits if you don't take this risk - which ones and why do you feel these benefits outweighs the benefits of taking the risks - 3.Once you have exhausted justifying all your excuses AND have started believing that this risk can be taken - the time has come to focus on ensuing benefits of taking the risks - Ask yourself - What are the benefits if you take this risk
- I.If you did not have any fear [of damage and loss of any type] - what would you do, what action you would take - while maintaining the dignity, respect and social-manner of self and others in
- II.Personal Life
- III.Academic
- IV.Career and profession
- V.Relationships
- VI.Physical
- VII.Social
- VIII.Towards the cause you believe in
- 28 mental-emotional barriers to risk-taking
- 1.Your fears
- I.Fear of failure
- II.Fear of rejection
- III.Fear of criticism
- IV.Fear of embarrassment
- V.Fear of success
- VI.Fear of making mistakes
- VII.Fear of looking stupid
- VIII.Fear of what others would think and say
- IX.Scared to move out of our comfort-zones
- 2.Your irrational needs
- I.Need for certainty
- II.Need for approval and validation from others
- III.Need to play it safe
- IV.Need to avoid feeling guilty
- V.Need to feel comfortable
- VI.Need for appreciation from others
- 3.Your detrimental and harmful habits
- I.Relying completely on others
- II.Perfectionism
- III.Procrastination - waiting for the right time
- IV.Over-thinking - Over-analyzing consequences
- V.Wanting guaranteed results - to be 100% certain and sure
- VI.Denying that problems exist
- VII.No accountability - unwillingness to take responsibility for solving problems of your life
- VIII.Magnifying the probability of something going wrong in misappropriate proportions
- IX.Being overconfident - the absence of fear causes us to underestimate risk
- X.Exaggerating the consequences through having Worst-case scenario thinking-mindset
- XI.Under-estimating our ability to handle the consequences of risk
- XII.Feeling comfortable with the status quo
- XIII.Not exploring the options and opportunities - which far outweighs the risks
- 42 Steps How to take risk in through healthy, planned-well and prepared-for process - in your personal-life, business-venture or in going for changing your professional-field completely
- 1.Verify and re-verify reasons to change and take this risk — ask
- 2.Why must I make changes to my life right now and take this risk
- 3.Why is this important and why it is important to do now - but please don't ask this question if you are looking for reasons to quit
- 4.If I do this, what potential outcomes could I expect - What will I potentially gain long-term by taking this risk
- 5.What could I potentially lose - What's the worst that could happen
- 6.What stands in my way - How will I overcome this obstacle
- 7.Do I really have anything to lose - What am I still uncertain about -Are the rewards worth the risk
- 8.What specifically has to happen for this to succeed
- 9.What if this setback is a blessing in disguise - find out why
- 10.What if these obstacles contain within them the lessons I need to learn to attain my desired outcome
- 11.Think long-term - be prepared to adapt, improvise and change your tactics
- 12.Always pilot-test something important - especially when you are groping in the dark and uncertainty on smaller scale
- 13.Crowd-source the idea - to get, multiple perspective and views as well as suggestions
- 14.Inform your family beforehand of the work you need to do and the probable impact - it may have on them - seek their support also
- 15.If you are going into business because you just want to experience some kind of adventure and thrill - going sky-diving, bungee-jumping or white-water-rafting types of expert supervised adventures might satisfy that feeling
- 16.Start taking small risks on daily basis - in the areas you are scared of
- 17.Avoid naysayers and people who always discourage you
- 18.Understand the difference between well-thought of and dumb risks - choose wisely
- 19.Read, read, read - the more knowledge and exposures you have about related areas - the less risky your endeavors may become
- 20.Learn-learn-learn to become an expert in your field
- 21.Assess the situation thoroughly - if the stakes are high get outside expert views and opinions - then decide whether or not the risk is worth it
- 22.Take cues from your past failures
- 23.Increase your ability to sense and recognize an opportunity (often from unlikely sources) - because of which it may feel like risk
- 24.Create standards, parameters and benchmarks to manage risky decisions and situations
- 25.Once you have planned - working backwards from your ultimate goal - start taking action
- 26.If something really excites you at the same time scares you - you could be looking at terrific game-changer and life-transformational venture - go right ahead - after analyzing the risks and creating plans on how to handle negative outcomes
- 27.Understand that The biggest risk is not taking risk in life in this rapidly changing world - because only this can guaranty to failure
- 28.Learn to love your company - spend more time alone
- 29.Make a positive difference through volunteering and getting involved with charity and social causes
- 30.Learn to say NO
- 31.Practice assertiveness
- 32.Be yourself - accept and love yourself unconditionally
- 33.Train yourself to never take any Risks - when you are foggy, drunk or disoriented and not clearheaded
- 34.When risk something - Fully Understand What You are Risking and what are the possible consequences
- 35.Balance your emotions with logical and rational reasoning
- 36.Take steps to increase your chances of success plan well before taking action - improvise when your planned action not working
- 37.Create resilience - by failing and bouncing back and again starting towards your goal - Build Mental toughness
- 38.Accept that setbacks will happen all the time
- 39.Take Risks For Yourself - because you want it and not under peer or other pressures
- 40.Train yourself to listen to your intuition - especially when there is chances of harm - physical and financial
- 41.Don't risk for thrill - ensure whatever risk you are taking Are Worthwhile
- 42.Be flexible and pivot fast when something you are trying not working - Know When To Change Course - create parameter ranges
20 Simple practices examples - you can use to enhance your risk-taking capacity
- 1.Everything in life is a risk - getting down from bed, sleeping in your bed, driving to your work, bending-down to pick something - everything that we do and face is risky
- 2.Try your hand in stand-up comedy - learn how to create humor
- 3.Dance or sing solo in functions
- 4.Express your opinion on those topics what you feel strongly about - without inhibitions - initially start in groups where you feel safe later increase the risk levels
- 5.Stand-up for others who can't for themselves - when you notice something wrong
- 6.Try to speak a new language with a the native
- 7.Ask for something you are sure to get refused
- 8.Give an impromptu public speech
- 9.Take on a physical challenge - you are in awe of or want to experience - under expert supervision
- 10. Try negotiating - in places where normally no-one does
- 11. Share your wildest dreams publicly
- 12. Tell someone you appreciate them or love them
- 13. Give away something that is special to you
- 14. Start making decisions entirely on your gut feeling - start with small projects or actions
- 15. Ask someone on a date
- 16. Wear a dress which is good but you feel inhibited for whatever reasons
- 17. Cook a recipe you've never attempted before
- 18. Tell someone a secret
- 19. Meet one stranger
- 20. Ask some very powerful and influential person to be your mentor
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