06 Feb Is Risk-Taking a Risk?
“You can’t get to the next rope if you’re still holding on to this one.” from Seth Godin’s Blog 2/5/12
I agree with Seth Godin. It’s hard to be successful in business if you are not a risk taker. You also have to know when to let go of the old ways. The trapeze artist analogy is vivid and exciting. Wouldn’t you like to be flying through the air from one rope (aka goal) to the next?
However, there is one little detail not mentioned — you need to KNOW what you are doing and you need to have a great team!
It’s a good idea only to take calculated risks. The trapeze artist is taking calculated risks. He/she has been training all his/her life — first practicing on shorter, lower swings, then gradually going farther and higher. He also has the right equipment and a safety net. And very important, he has a team that he trusts! He’s relying on his team member to be there at the right second and at the right spot.
The business person must also be trained, must understand the cost/benefit of every decision, and must have the right facts, the correct information. In other words, don’t take a flier on something! Calculate the distance, the height, and the potential for success or failure. Know what you are risking! And make sure that your management team is on board, helping and being constructive.
Know what constitutes failure or success so that you know when you succeeded or when you must cut your losses. Once you are prepared with this knowledge, “Fly through the air with the greatest of care!”