Taking Risks ≠ Risky Business

Posted by Kayla MacAllister

Find me on:

ThinkstockPhotos-496814797_2.jpgTaking Risks + Innovations Branding House

What’s the first feeling you have when you hear the word “risk”? Is your stomach flipping? Do you immediately become anxious and worried? Do you think of the one time you gambled and lost?

 

Caution: Growth-Stunted Business Ahead

We’re taught from a young age to be careful. Caution is now automatic, a characteristic instilled in us from the time we started walking.

It comes from a different time. Risk used to mean that we might get carried away by a pterodactyl if we went outside when our parents said not to. While the specifics have changed, we are still taught to avoid risks.

Look both ways before crossing the street. Don’t run at the pool. Stay away from dark alleys. Don’t take candy from strangers.

As we grow up, these decisions become bigger and the potential for failure is much scarier. So, we always carefully weigh the risks versus the rewards.

Caution is inherent, but can be overcome.

We understand. Taking risks with your company and your livelihood is scary. But if you want your company to fulfill its biggest potential you need to take risks. Run faster than the pterodactyl can fly.

 

Not All Risks are Reckless

Logically, it no longer makes sense to bring our fear of failure into today’s culture.

The chances that you are the only business doing your specific type of work are slim to none. If business owners choose to do nothing and completely avoid risk, you won’t move forward. Your company needs to stand out and to do this, you must take risks.

Before, when you thought of the word “risk,” did you feel some excitement underneath the anxiety? Risks are adrenaline-inducing, and this adrenaline can help overcome even the biggest obstacles. Don’t discount intimidating opportunities just because they make your heart race.

 

Scenario

Best Case

Worst Case

a. You hire a new person, but don’t have quite enough work for them yet.

The workload picks up and they become a valuable, efficient team member.

The workload never picks up and they’re forced to become part time, or they are let go.

b. You start a new department or branch of your business.

Your expanded services are a hit with both your existing clientele and new customers, and your profits skyrocket.

It tanks and you lose time and an affordable investment.

c. You take a potential client out to lunch.

Your choice of authentic Italian cuisine is their favorite and they become a client.

He or she is allergic to most Italian seasoning, only orders a salad and you still pitch your company’s services.

d. You make a big investment on updated equipment.

Production and efficiency increase, and your employees appreciate your investment in their work.

The new equipment only does the same thing your old equipment did. But, now you have an updated warrantee and greater peace of mind.

 

 

So What?

The definition of insanity is “doing the same thing you’ve always done and expecting a different outcome.” So make the choice to make a change!

Don’t be left at the end of the day asking yourself, “What if?” Instead, adopt the “So what?” mindset and push your business to be its best. 

Click to download!

Topics: Marketing

Subscribe to Our Blog!