Monday, August 12, 2013
RISK and DARING
Those who dare NOT … don't.
But those who are willing to take a RISK …
STEP OUT ...
When you think of someone who is a RISK-TAKER, you may think of those involved in extreme sports or skydiving. I work with entrepreneurs and business owners every day. They too are often considered risk-takers, yet the truth is that they have usually thought long and hard about the steps they have taken.
Those who start their own business are often called RISK takers. While there is some degree of risk attached to being an entrepreneur, having researched the opportunity and completed a through business plan will help to reduce the risk. This allows you to consider the potential impact associated with many of the variables you may face. It will help you to make better decisions when you need to face the changes that occur along the way.
PLANNING is a KEY to SUCCESS. In business, you need to have a plan or you'll soon find yourself being pulling in a thousand-and-one different directions and being totally ineffective.
When it comes to business decision-making there is much that is involved. What is a DARING move for one person may be commonplace for another. A portion of the assessment will consider questions such as:
- What are you prepared to INVEST?
- What can you afford to LOSE?
And it's NOT always about the financial investment either. The impact of the decision should also consider the amount of TIME and ENERGY required to incorporate the change, as well the potential impact that will result on the organization's IMAGE and REPUTATION.
SO, if you are looking at several OPTIONS in front of you, WHAT suggestions would you offer others to help them with which ONE do you choose?
A Closing Thought: With carefully planning, you'll have a better understanding of which direction is better for you to travel, and you'll reduce the risks of becoming a 'victim' along the way.