What makes Donald Trump and tight-rope walker Philippe Petit kindred spirits? What does Oprah Winfrey have in common with Evel Knievel? What makes Steve Jobs the same as Harry Houdini? All of these people are risk takers. So how can you take the leap to success without jumping off a cliff?
Some of them take risks like jumping a motorcycle over a canyon, or getting buried alive in a straitjacket. Others take risks that might not create as much of a visual spectacle, but are big risks just the same, such as walking away from a great job to launch a television network, putting tons of money on the line and overcoming bankruptcy multiple times to pursue new business ventures, or dropping out of college to eventually take the tech world by storm and launch a line of game-changing electronics.
There’s a reason becoming an entrepreneur is often referred to as “taking the leap.” For many, it’s a scary proposition to take such risk and start a business.
So, what enables one person to grab the “golden ring” and another to feel it’s out of reach? What gives one person the willingness or courage it takes to jump into entrepreneurship starting a business and another to dip his toe in and quickly pull it back? It all boils down to the unwillingness or inability to take risk.
So how can you take the leap to success in starting a business without it being a leap off a cliff? How can you take risk without it being reckless?
Many people think of entrepreneurs being the reckless type, but studies have shown that risk prevents most from taking the entrepreneurial path and those that do, by and large, are not gamblers.
Yes, entrepreneurs are risk takers but so are all people. From driving to work to eating unhealthy food to crossing the street, nearly everything we do entails risk. We can’t eliminate these risks; all we can do is know what they are and mitigate them.
The same can be said for the savvy entrepreneur. Entrepreneurs do not think of risk in terms of eliminating it, but rather knowing what they are, so they can develop a sound plan for reducing risk and unwelcome surprises. Wise entrepreneurs only take smart business risks after carefully weighing the pros and cons and making a plan that provides the best chance of success.
Just as people wear seat belts, map their routes, and look both ways when driving through intersections to mitigate the risk of driving, the entrepreneur performs research and careful planning to mitigate the risk of starting a business.
Rather than letting the fear of risk create paralysis, they use it to make themselves plan more carefully and manage better until they reach their goals. Many entrepreneurs will credit their success in part to their preparedness.
How prepared are you to achieve your dreams? Have you done a self-assessment to know your strengths and weaknesses? Have you set the right goals and made a smart action plan?
Contact us so we can coach you how to make your plan for good fortune by taking smart risks.
