How To Become More Proficient At Risk Taking

No doubt, taking risks can be a tricky venture.  There are always consequences to our risks, but not all consequences turn out to be what we want or expect. Bold people are willing to take potentially harmful actions or risks to gain greater rewards. Most business elites like Oprah, Jeff Bezos, or Bill Gates fall into this category. However, unless you are hardwired to engage in the extreme or prone to avoid taking risks at all, you might consider an approach that plays to your advantage.

What can you do to take risks that lead to benefits and minimizes undesirable outcomes?

(1)  Dare to do. Taking risks require a certain amount of self-confidence and determination. Start with a genuine dream and muster up the courage to achieve it with a “can do” attitude.

(2)  Recognize your talents.  You are far more capable than you give yourself credit for being. Do not underestimate your abilities but balance them out with a reasonable perspective of what might be beyond your scope of possibilities.

(3)  Seek to learn. Do your research before taking a significant risk. Gather reliable information, including insights from others, that can help you weigh out the pros and cons of taking any form of action.

(4)  Understand your options. Analyze the information you have at your disposal to determine your next steps. Create a list of possibilities and go with the one that makes most sense to you.

(5)  Let go of your fears. Fear is a deterrent that will hamper your abilities to accomplish your aspirations. To overcome your fears, identify what they are and find solutions to address them.

(6)  Establish your limits. Determine how far you are willing to go to get what you want. Stay within an acceptable range to avoid losing what you cannot afford emotionally, physically, and financially.

(7)  Maintain a contingency plan. No matter how well you plan out and execute a venture to risk, unintentional consequences may arise. As part of the process, include what to do if things do not go as planned.

(8)  Go for it. In an ever-changing world, staying in your comfort zone can be just as risky as not. Take control of your life by engaging in the acceptable risks that will support your dreams.

(9)  Take time to reflect. A certain amount of reflection after taking a risk will enable you to finetune your techniques. To become a skilled risk taker, analyze your performance and the outcomes after every attempt.

(10) Commit to your success. If you are seeking a meaningful and rewarding life, be willing to put yourself out there. Success will not just fall into your lap; you have to do the legwork to get what you want and deserve.

The biggest risk a person can take is to do nothing. – Robert T. Kiyosaki

Written by: Patricia K. Flanigan, Smart Strategies for Successful Living

Patricia K. Flanigan has worked in higher education for over 28 years. She holds a doctoral degree in Organizational Leadership from the University of La Verne as well as a M.A.  in Latin American Studies and B.A. in Anthropology from the University of California, Los Angeles. Before retiring and moving to Idaho in 2015, she served as the dean of online education and learning resources at Saddleback College, a large community college in Southern California. She currently consults in higher education, volunteers for AARP, writes for a local magazine, and serves as an Affiliate Faculty member at Boise State University.  Since February 2017, she has been the founding director for Smart Strategies for Successful Living, a community-based website designed to promote quality aging.  As an educator, her focus is to inspire others to live and age well.