How to take risks
If you're keen to display the qualities of true leadership, risk-taking must become part of your executive weaponry. Leaders must be disrupters of the status quo, which often requires them to take risks. Calculated risk-taking helps 'creative edge' organisations to thrive; and it earns an enviable reputation for individuals who deliver the positive results. But risk-taking requires courage and an awareness of the following advice...
1. Be aware of the pros and cons of risk taking.
Risk taking means moving from a situation of some security to another less secure position. But, to advance, there'll be times when you must place yourself, even your organisation, at risk. Courage is a basic requirement for risk taking, sometimes at great professional and personal cost. The alternative - choosing not to show leadership - will no doubt result in fewer risks and greater security, but it will also mean the loss of opportunity to bring about needed improvement in your organisation.
2. Confront fear first - then bite the bullet.
Fear is a demotivating factor in any situation. People don't do things because of fear - fear of the consequences of doing them (and vice versa). People who do not learn to confront their fears may go through life in the company of embarrassment, failure, rejection, disapproval, uncertainty, and myriad other doubts. Confronting fear is a precursor to taking risks. So, if you find yourself hesitating about taking a risk, ask: 'What am I really scared of?' Isolate that fear and face up to it; by weighing the disadvantages - and the advantages - you can decide whether the risk, the calculated risk, is worth taking.
3. Ensure the risk is justified.
Risk taking can be something of a gamble and one of the rules of gambling is never to risk more than you can afford to lose. Size up the odds, the rewards, and the risks. Don't risk a lot for a little, particularly useful advice when you're sticking your neck out only to take revenge, save face, or on a matter of principle.
