If you see a chance, take it—but keep it reasonable
You can’t succeed if you don’t take chances. But that doesn’t mean that foolish risks are a good idea. People who succeed in any endeavor know how to evaluate the odds and make choices that are reasonable and realistic. Here are some risks to embrace:
• Downside limited, upside huge. Look at the worst-case scenario, and compare it against the best possible outcome. If you’re risking complete disaster for minimal benefits, forget it. But in many cases the worst result is probably a little lost time or money, whereas the upside may be significantly larger. A good evaluation of risks and potential rewards will tell you what to choose.
• Out of your comfort zone. Stepping out to the edge of what’s familiar can be scary, but that’s usually where you learn the most. Don’t attempt anything completely out of your reach—this isn’t the time to teach yourself brain surgery—but accept risks that stretch your skills or call on you to learn something new.
• Innovation. Risking your time or money on the tried and true may be safe, but the payoffs will likely be larger if you’re trying something new. Look for opportunities that break new ground. You’ll draw attention and earn people’s respect even if you fail.
•
Confidence booster. Everything improves with practice, especially risk-taking. Take a chance when the challenge will show what you’re capable of, even if you’re not completely successful. At worst, you’ll gain confidence from realizing that you can fail and survive—and start over with something new.
The Billy Davis Insurance Group