Many people are often so afraid of taking a risk that they chose to do nothing and stay stuck. The problem with that is: The pain of doing nothing and staying stuck is often more than the pain of taking the risk.

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Taking Risks (Part 3) – 10 Important Things to Remember

Taking Risks - 10 Important things to rememberMany people are often so afraid of taking a risk that they chose to do nothing and stay stuck.

The problem with that is:

The permanent pain of staying stuck is far worse than the temporary pain of taking a calculated risk to create change

Another common problem is people confusing gambling with taking a risk. To help address both these points here are:

10 important things to remember when taking risks:

1. Is taking this risk moving you toward your vision and goals? If it isn’t something that is taking you to where you want to be, why are you doing it? Make sure you are looking at the big picture so that you are taking the right risks for the right reasons.

2. What do you want taking this risk to achieve? Get clear on what the outcome needs to be. Use this to create an action plan.

3. What do you need to do for this risk to be successful? Taking a risk and crossing your fingers that it will all turn out OK won’t work. Be clear on what you need to do to set youself up to succeed.

4. What is the worst thing that can happen? If you don’t know the answer to this question you can’t assess if it is a risk worth taking or not. Only take calculated risks. Anything else is just gambling.

5. What would you do if the worst happens? ALWAYS have a contingency plan. This is your equivalent of a safety crash mat. Don’t be without it.

6. What needs to be in place to make this risk feel safe? Creating feelings of safety will reduce fear that gets in the way of taking action.

7. Fully assess a risk before acting. If you don’t, it is like buying a house without a structural survey first. You are gambling.

8. Measure progress regularly. This is vital yet often overlooked. This will allow you to spot potential problems before they happen and take evasive action.

9. Focus on the outcome. Once you have made the decision keep focussed on the outcome NOT on what could go wrong. You get what you focus on!

10. Taking Risks is about creating change to get the results you want in your life and work. One of my favourite quotes sums this up perfectly:

“Twenty years from now you will be more disappointed by the things you didn’t do than the ones you did.  So, throw off the bowlines.  Sail away from the safe harbor.  Catch the trade winds in your sails. Explore. Dream. Discover.” – Mark Twain

What are your experiences and thoughts on this topic? Is there anything you would add to this list? Let’s discuss it in the comments section below. 

This is part 3 in a 3 part mini series. You can read parts 1 & 2 here:

Taking Risks (Part 1) – Why Bother

Taking Risks (Part 2) – Why you MUST do it!

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