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Our fear of taking risks is the greatest obstacle to entrepreneurial success. Consider the failures of some of the largest companies to innovate or pivot. Many of these businesses were forced to shut down as they continued to maintain the status quo. It taught me a lot about 2020. I learned to quickly make tough decisions, to think in new ways, and to take responsibility for how my business is run.
Consider the time when you were able to be open and vulnerable or present yourself as a business leader in a way that places people first. What was your response? What did you do? Did fear overcome courage? For years, I lived the mantra “Take the risk or you lose the opportunity” for many reasons. This has allowed me to create opportunities and partnerships, and it has increased my awareness of leadership and entrepreneurship.
Why are we inherently against taking chances?
It is scientifically possible to take a chance. Kayt Sukel, in The Art of Risk does a great job explaining this. Around 80 percent of brain’s decision-making regions are made up of excitatory cells, and 20% of brain’s inhibitory cells. Children are more likely to take risks and try new things when the excitatory cells dominate. You know how it feels to tell a child to not touch hot pots only for them to do so and then scream in pain? We can give credit to the excitatory cell for this. Our inhibitory cells become more powerful as we age, making it harder to take on new risks. You get more burned financially and professionally the more you touch hot pots. The more we touch hot pans (times when we get burned professionally, financially, etc. ), the harder our inhibitory cells work to convince us to keep our course. You can also feed your fear with other experiences.
The imposter syndrome refers to a set of unsatisfactory feelings that continue despite apparent success. There are cognitive, emotional and experiential obstacles that prevent us from taking risks. It was only a matter time until I realized this and created a system to help me see past my fears to take strategic risks to get ahead. These are the three principles I’ve used over the years to help me self-assess my opportunities and address my emotional and cognitive responses. This has allowed me to recognize risks that are worth taking and to acknowledge those that don’t.
Similar: Take The Right Risers
It is important to be vulnerable and bold
The principle of walking, talking and engaging in authentic self is what this principle all about. You will be able to recognize your strengths and limitations as a leader so that you don’t take on too many opportunities. You should assess whether the opportunity is in line with your goals. Are you willing to sacrifice your skills or expand your horizons to accept this chance? These questions are important because they reveal the core of our entrepreneurial nature. It asks how we plan to support our long-term strategies, how we will grow, and finally, how do we acknowledge the effects work has on our family, our social lives, and our business.
Vulnerability and boldness increase our awareness, which in turn allows us to be more intentional with how we interact with others. It is crucial to take risks while being grounded and from a position of clarity. Clear thinking allows us to make quick decisions and move past them. It allows us to keep momentum going and improves our ability make tough decisions. This helps us to overcome the feeling of imposter syndrome when we step into new opportunities. We can be vulnerable and bold if we are not afraid to fail. Recognizing our strengths and our potential, we recognize how we can grow in the areas that we most need.
Courageous curiosity is a virtue
Their curiosity is what makes them grow. This spark is what continues to fuel their curiosity and leave them hungry for new knowledge. Entrepreneurs feed their curiosity by being boldly courageous. We may start our own businesses or take on new clients even though we are already at our maximum capacity. It’s all about being courageously curious and researching possibilities before you close the door. My mother used to say, when I was younger, that books could open doors without locking them. As an adult however, it stuck with me. But as I got older I came to realize that I had more courage as I learned more. As I continued to read, I began asking more questions and soon realized that any opportunity opens up the possibility of answering the question who, what or when. These questions can only be answered if we are courageously bold and curious. Many of us wouldn’t have the courage and curiosity to pose difficult questions if we hadn’t stepped foot into the entrepreneurial world.
Similar: How to Use Risk as an Opportunity To Increase Profits
Take enough care to connect
Many times, I have found myself in an environment where 100 percent of what is happening was taking place. My day has been filled with checking things off the to-do lists, but I’ve missed opportunities to get to know my colleagues and team members. It has led me to take on risk that I should not, seek feedback from those who do not share my best interests, and embrace the experiences of others. We become more fearful when we don’t connect well with other people. Then we start to take the experiences of others as our own and make them ours. It is important to allow ourselves to fully engage others. We also need to understand the importance of human interactions for our growth. It is crucial to give others the feeling that they are more than just a number. If we take the time to be intentional about how we interact, we will receive more valuable feedback.
These principles helped me recognize the right time to take a risk and when it was not. It’s not easy to take risks, but it will be easier to assess every opportunity and build your confidence. Vulnerably bold means you are willing to accept risk, and that your success is assured. Courageous curiosity is about responding to your calling as an entrepreneur and leader. Connecting with others who care enough about us will help us stay on track. It will also encourage us to try new things and take chances.
Similar: Entrepreneurs aren’t risk-seekers — They just handle risk better
Publited at Sun, 25 July 2021 18:11:12 +0000