Power Thought: Take calculated risks to grow your business

by | Dec 3, 2014 | Entrepreneurship, Mindset, Power Thoughts

Listen to the audio version here or on Spreaker!
"The greatest risk is really to take no risk at all. You've got to go out there, jump off the cliff, and take chances." ~ Patrick Warburton

Photo: (c) Vedmochka | PhotoXpress.com; Design: Carma Spence

“The greatest risk is really to take no risk at all.
You’ve got to go out there, jump off the cliff, and take chances.”
~ Patrick Warburton

What this quote means to women entrepreneurs:
Did you know that one of the biggest things holding women entrepreneurs back is their reduced willingness to take risks compared to men? Women are more likely to overthink things and to take care of others at the expense of themselves.

And although there are places where these traits can be good things … your business is not necessarily one of them.

To move forward with your business, you have to be willing to take calculated, strategic risks … and sometimes even take bold risks without the “proper time” to think about them. And, to be successful, you have to trust yourself enough to know that you can decide when a risk is worth taking and when it is not.

“When individuals grasp the healthy aspects of taking risks,” wrote Drew Hendricks in an article for Inc.com, “they can begin to develop methods for taking smart risks to improve their business.” He goes on to write, “All successful business owners must learn the art of taking calculated risks. The practice may not come naturally, but it’s essential for progress and longevity.”

Here are some steps you can take to start embracing healthy risk in your business:

  1. Stop thinking too much. Women are masters of overanalyzing, whether it be something trivial about if a guy likes them or not, or something more important like whether they should go with this vendor or not, hold an event or not, or even raise their prices!
  2. Embrace the option of failure. Not getting something right doesn’t make you wrong … unless you let it. So embrace the idea of failing forward fast. Learn your lessons along the way and keep moving forward.
  3. Practice being decisive. Make decisions quickly and then follow the advice of the first two bullets. Keep your momentum moving forward.

Let me leave you with one of my favorite quotes from one of my favorite authors, Ray Bradbury: “Jump, and you will find out how to unfold your wings as you fall.”

commentNow It’s Your Turn:
Do you agree with my interpretation of today’s quote? Why or why not? What are your thoughts on taking risks? Based on what you just read, do you have any plans for embracing more risk in your business? Please share your thoughts, experiences, and sage wisdom in a comment below.


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