Are You a Risk Taker?

Every week we boil down the latest episode of the Great People Show into one amazing post. To listen to this episode CLICK HERE.

“Fortune favors the bold.” – Latin Proverb

Some people are wired not to assume risk. Forbes breaks down our lack of risk to four reasons:

  1. We over-estimate the probability of something going wrong.
  2. We exaggerate the consequences of what might happen if it does go wrong
  3. We underestimate our ability to handle the consequences of risk.
  4. We discount or deny the cost of inaction or sticking with the status quo

The Status Quo is a Powerful Force

Not making a decision, is a decision. Most of the time, we are deciding to stay in our comfort zone. In your head, there is no risk is staying exactly where you are. Most people don’t take risk because they fear failing. The more you fail, the more successful you will become. The more success you have, the less risk adverse you are.

Risk Isn’t Risk with a Vision

All life is a risk. Might as well take the ones that will make a difference.” – James Munsey, Great People Show Co-Host

Jennifer called into the show this week to give us solid advice, “When taking a risk, be true to who you are. No one can feel what you are feeling on the inside. Make sure you put on paper what you are feeling, then write out an action plan. Allow yourself to see a bigger picture.”

Create a Team of Outsiders

If we go it alone in our decision-making process, the risk becomes way more powerful. Including others reduces the risk and empowers us. It’s amazing how clearer our decisions are when we get feedback from people that are not emotionally attached to the decision. Risk is highly subjective. What is risky to me might not be risky to you and vice versa.

But be careful. The people closest to us have more invested in our status quo than anyone else because its directly tied to their status quo. If we make a change in many cases they will have to make a change too. It’s tough because these are the people we tend to rely on the most for advice.

We have opportunities daily to change the course of our lives. It’s not that we don’t have enough ideas or opportunities, we are too risk adverse to pursue them. As Dale Carnegie said, “Ask yourself, ‘what is the worst that can possibly happen?’” As Steve Harvey says, “The only way you are gonna soar is you gotta jump.”

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