“True entrepreneurship comes only from risk taking.”
Dhirubhai Ambani, founder of Reliance Industries, India’s largest private company
Risk. Not everyone loves it, many try to avoid it, but the people who are most successful are the ones who seek it out and embrace it.
By definition, entrepreneurs are risk-takers. They have an idea, take the initiative and do everything possible, including taking risks, to make their dream a reality. But entrepreneurs shouldn’t be the only ones willing to take risks. If employees, whether at the bottom or the top of the working ladder, want to stand out from the crowd and find opportunities, being a risk-taker is paramount to success.
Not All Risk is Created Equal
There are a variety of types of risk. Calculated risk means people have considered all the angles, the pros and cons, and have decided that the gamble is worth it. Entrepreneurs and those who are tolerant of risk understand that despite their planning, there’s always a chance that the risk won’t pay off, but they embrace it nonetheless. There’s also the no-lose scenario which, according to Cigna, means that if people look at all possible outcomes and each one offers a gain, the risk is definitely worth taking.
Test Your Risk Tolerance
While some people thrive on risk and the opportunities it presents, others try to avoid it at all costs and are content with the life they lead. But many of us fall somewhere in between. People who want new opportunities and a different life need to look at their risk tolerance and learn to step beyond it.
Here are three reasons why people should embrace risk if they want to be successful:
Risk Equals Opportunity: The more risks you take, the more opportunities you’ll find. Those interested in the status quo will likely remain within the status quo, staying stagnant in their jobs and in their lives. Those willing to do the work and take chances will likely climb the ladder faster and discover new opportunities along the way.
Risk Equals Learning: People open to taking risks often try new things, learn new skills, and gain more knowledge, which in turn increases their confidence and broadens their range of skills and abilities.
Risk Equals Resilience: Many businesses fail, but even when a venture doesn’t work, most entrepreneurs don’t give up. They dust themselves off, learn from their mistakes, and try again. But failure, according to Huffington Post founder Arianna Huffington, isn’t bad; she says it’s “not the opposite of success but a stepping stone to success.”
Those who take risks learn to embrace failure and use it as a starting point for their next success. Whether you’re an employee starting out or somewhere in the middle of your career, if you want to be successful in business and in life, try taking a few risks.
Lisa Day | Contributing Writer