Are You A Risk Taker? Here’s Why You Are

  • Photos by:
    Matej Čerkez
  • Published on:
    July 24, 2018
  • Reading time by:
    2 minutes

WHY YOU ARE A RISK TAKER – AND EMBRACING IT

Let’s face it. Taking risks is scary stuff. And as a business owner, risk taking is synonymous with being an entrepreneur. But why is risk taking negatively frowned upon or avoided? You were braver than anyone else to take the plunge. Your risks were calculated and not just random gambles. And if you hadn’t taken any risks, you wouldn’t be working on building your empire right now. Taking risks is inherent with entrepreneurship, and you should embrace it not fear it.

  1. RISK TAKING SHOWS CONFIDENCE

You had an idea that nobody else had or maybe, you were passionate about something that you knew you wanted to spend the rest of your life doing. You probably sacrificed your personal capital, abandoned your steady pay check and ignored all the criticism in taking the risk for your startup. You knew in your heart that this was your calling and you took the risk of following through with this crazy plan of yours. That risk taking shows confidence in yourself and your abilities and any boss lady should be proud of herself for that. 

  1. YOU LEARN FROM TAKING RISKS

Risk taking isn’t something with a guaranteed result, things may very well change along the way. Some risks may pay out in the end with a great return on investment, while others, end up being failed attempts that aren’t very profitable. But needless to say, every “failure” is an opportunity to learn. A smart entrepreneur will always use this as a learning curve and develop new strategies around this to combat, mitigate the risk or prevent it from happening again. You will learn what is good for your business and what isn’t and it is okay to not know all the answers at first.  

  1. TAKING RISKS GIVES YOU A COMPETITIVE ADVANTAGE

Customers’ demands change all the time and entrepreneurs that come up with fresh, new ideas are always ahead of the pack. Having this innate characteristic in you already places you at a competitive advantage. Many entrepreneurs avoid taking risks due to the uncertainty and the repercussions but those who are natural risk takers are able to assess the situation and make informed calculated risks. You may be willing to try something different and this could lead to new opportunities, pathways and innovation that you didn’t envision for your business but will contribute towards its success and growth. 

Your business needs you to be ready to dominate risk and embrace it whether it is in your risk assessment strategy or your decision to charter the business in a new direction. 

 

 

Sheinna Mungroo

A South African native undertaking her Master’s in Human Resource Management. Her primary objective is balancing the needs and goals of both the company and the workforce to create a harmonious employee-and business-centric atmosphere whilst improving the standing of women in upper management. She’s an avid lover of books, fashion, beauty, the arts, flowers and cool notebooks. She was also a Finalist for the Miss India South Africa 2017 pageant. Sheinna believes in exploring as many creative streams in life as this is a form of expression and a link between our internal and external worlds. When she’s not painting up a storm, she loves exploring new cafés and chocolate desserts. 

You might also enjoy..

What to Know About Becoming an Event Planner 
by Cora Gold

What to Know About Becoming an Event Planner 

Are you considering changing careers and seeking something that harnesses your organizational skills and love of working with people? If so, event planning offers the opportunity to help others rock their big day. What do you need to know to get started in the industry? Read on What to Know About Becoming an Event Planner.
Common Mistakes Women Make at the Office

Common Mistakes Women Make at the Office

The modern workplace has become a battleground for equality, and women continue to face unique challenges on their professional journeys. Despite significant progress, women often encounter obstacles that can hinder their career growth and hinder their ability to reach their full potential. By recognizing and addressing these common mistakes, women
Signs You're too Smart For Your Job

Signs You’re too Smart For Your Job

If you see yourself in these examples, don't panic. You don't have to do anything today or tomorrow, but start thinking about what you'd do if you weren't doing the job you have now. Get a journal and write in it. Design your dream job on paper first to get clear about your direction. Then, begin branding yourself for the job you want.
Incredibly Easy Ways To Be Taken Seriously

Incredibly Easy Ways To Be Taken Seriously

Are people blowing off what you are saying and not really taking you seriously? Maybe you joke around a bit too much or made a mistake that others won’t let you live down. No matter the reason, you need others’ respect to be successful. Learn to be taken seriously by being assertive, commanding respect, and avoiding the mistakes you made in the pas
Building the Career Path: Women of Science

Building the Career Path: Women of Science

Women are frequently ignored and undervalued in the technological world, which has long been thought of as being controlled by males. The industry has undergone a significant change recently, with an increase in the number of women holding executive positions and influencing the digital scene. The influence that women are having on the technology w

Join the discussion!

Leave a Reply

Your email address will not be published. Required fields are marked *