Which one of these is riskier…
If you are now one of those people who are overthinking the question and trying to add all kinds of nuances and scenarios to it to answer the question. You are most likely not a risk taker. And when you do take risks you probably over think them and spend more time discussing what could go wrong versus what could go right.
Here is the reality we have to take risks every single day or we wouldn’t be able to live our lives. This may be controversial, but the pandemic in March of 2020 was a great example of this. We were convinced that it was too risky to go about our normal lives. So instead of taking those risks, we instead locked things down, shut down our economy and changed our entire way of life.
In some states this lock down was in place for years, other places for at least a year and other places not as long. However we now know the consequences of the lockdowns. You can agree or disagree with me. But it devastated our economy, it hurt our youth significantly and had a negative impact on so many areas of people lives.
In the case of the lockdowns we chose one risk over the other. This is what we did. We just didn’t know it. Look I have gone down this rabbit hole further than I wanted to go down it.
The point I want to make is this though. When you think you are mitigating risks you actually may be assuming more risks?
The seven areas I share below highlight how not taking risks is actually the more riskier thing.
- Stagnation: Avoiding risks often leads to staying within one’s comfort zone. While this might feel safe, it can also lead to stagnation and lack of growth. Without venturing into new territory or trying new things, individuals or organizations may miss out on valuable opportunities for improvement and success.
- Missed Opportunities: Many significant opportunities involve some degree of risk. By avoiding risk, individuals may miss out on chances to achieve their goals, advance their careers, or grow their businesses.
- Competitive Disadvantage: In competitive environments, those who take calculated risks and adapt to changing circumstances are often more likely to thrive. Playing it too safe may result in falling behind competitors who are more willing to take strategic risks.
- Learning and Innovation: Failure is often a part of taking risks, but it also provides valuable learning experiences. Embracing risk can lead to innovation and the development of new ideas, products, or services.
- Regret and What-Ifs: In the long run, people may regret not taking more chances when they had the opportunity. The “what-ifs” and the feeling of not having lived up to one’s potential can be emotionally challenging to deal with.
- Personal Growth: Stepping outside one’s comfort zone and facing challenges can lead to personal growth and increased self-confidence. Taking risks and overcoming obstacles can build resilience and the ability to handle future challenges more effectively.
- Financial Gains: In the business world, higher risks can sometimes lead to higher returns. Investments that involve more significant risk may have the potential for greater rewards.
It is essential to note that taking risks does not mean being reckless or making impulsive decisions. Successful risk-taking often involves careful evaluation, planning, and understanding potential consequences. Managing risks wisely and balancing the potential benefits with potential drawbacks is crucial in making informed decisions.
To bring it back to the lockdowns. We now know that the safer risk was to allow life to continue you on as normal and to take care of the people who were more at risk of harm and death because of the virus we had going around.
In your life where are you trying to play it safe? Where are you not taking risks and you should be?
To your success and your future.
Please connect with us below.