Take This Risk With Merits/Cushion the Demerits
Why I can't take Risk
Mark retired from his job recently. He was approached by a share broker to invest in a start up company. The company was slated to provide a breakthrough invention after which the share values would triple. Mark pledged all his savings including his apartment to buy the shares. But the invention never came through and the company went bankrupt. Mark unable to cope with the loss and for seeing a bleak future committed suicide.
This story could demotivate anyone from taking a risk and you cannot be blamed. No one wants to end up being sorry for themselves or be in a tight position. So the only solution then, is to remain in the comfort zone.
Is it Necessary
Go through any motivational articles, videos and you are directed to move out of your comfort zone and take the leap. The fact is without risk, you can accept only minimal success in life and part of your ambition. What more, a boring lifestyle and end of the day a guilt feeling of not achieving anything.
Easy for You to Say.........
This is indeed a fact. I advise anyone I meet the benefits of risk taking, the need to take it and experience it first hand. But when the time comes for me, I tremble and back away at the slightest trouble.
So what prevents us from being a risk taker.
1. Fear of failure and its consequences. A powerful emotion which is not easy to fight off. The more you try, the more powerful it becomes.
2. Not fully understanding the nature of the risk . Is it necessary, what changes it brings to our life, unclear plan of attaining it.
3. Over Optimistic. Positive outlook is good, but make sure you have an exit plan in case of failure.
4. Family and personal problems. To take risk is to swim against the tide, brace yourself for the biggest wave.
Can I have the Spoils Without the Kill
Technically, you can. By taking a Calculated Risk. This is a term really familiar with entrepreneurs, stock brokers etc. The principle is simple. Take the risk while at the same time providing a soft cushion should you fail.
By studying the market fluctuations a share broker, makes a probability chart. This chart shows a companies turnover, future share price, risk factor etc. Also he/she does not bet the full amount on a particular company, but distributes it evenly among a group of companies. This way they are secure should one of the company fails. In short, an exit strategy is in place.
If Mark had done this, He would not have gone bankrupt.
How to take a calculated risk. It is elaborated as follows.
1. First of all, make sure the risk is worth it. What you can achieve if you succeed, how it will change your life, will it be beneficial to you in any way.
2. It is stupidity to go to war without a predefined plan. A good plan can provide a strong base and act as a motivator during tiring times. Research about your venture, its merits, demerits, plan of action.
3. Always have an exit strategy or plan B should things don't work out .Be optimistic while at the same time brace yourself for the failure, should it happen. Being ready helps you to bear any outcomes.
4. Everyone starts from Novice.Take small risks at first. This helps build up confidence and self esteem. Then big risks would be a walk in the park.
A Calculated Risk is worth lot more than a Blind Risk............