We tend to view risk-taking negatively, often regarding it as dangerous and even unwise. When interviewing Andrew Liveris for our award-winning Channel 9 program The Bottom Line, he talked passionately about the need to take risks and to evolve with the changing times and economic opportunities available to us all.
While some risks certainly don’t pay off, it’s important to remember that some do. Reframing the concept of risk and seeing it as an opportunity to succeed, as opposed to tempting fate or failure, is a mental exercise worth pursuing. The infamous Muhammed Ali once said: he who is not courageous enough to take risks will accomplish nothing in life.
Here are my top three reasons to consider taking more calculated risks to achieve success:
1. It can be one of the fastest ways to learn. When you are under pressure and cornered by risk your senses can often be heightened, increasing a sense of clarity and purpose. In these times there is always something to learn, about the situation and yourself. Embrace it and learn as much as you possibly can – good and bad – because in the world of business, knowledge and experience will always equal power.
2. Embracing risk can help you to avoid fear of failure. Sometimes the risks you take will pay off and other times they won’t. You can hedge your bets and take educated risks, but understanding that not every situation is entirely in our control can help you to overcome a sense of fear about tackling any risk at all. T.S Elliot once said: Only those who will risk going too far can possibly find out how far one can go.
3. It can help you to stand out. Some of the greatest leaders of our time have built their entire reputation on taking big risks – basking in the success stories and letting the less than desirable outcomes roll off their backs. Names likes Donald Trump, Bill Gates, Warren Buffet, Jeff Bezos, Larry Ellison and Richard Branson come to mind. The very things that you stand to lose are the very same ones that we stand to gain – if you stay in your comfort zone there is every chance you will be selling yourself short.
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Vanessa Stoykov is the founder of No More Practice, and the founder of the parent company, evolution media group in 1999. She has over 20 years’ experience in financial services as both a journalist and business owner. She is passionate about creating education and communications to help the wealth industry and consumers fulfill their prosperity potential.
