The Importance of Risk-Taking [Video]

In keeping with the racing theme this week, earlier this year I made it to a championship formula car race. It’s a hobby and I’m a rookie but I was fortunate enough to have ranked in second place going into the final race.

I knew that if I didn’t risk, there was no possible way I’d win. I’d safely take second. The risk was more important and I wanted to know I left everything on the track.

Are you taking risks in business and in life?

It’s important as a team leader, employee or business owner that you take risks. I’m not advocating bad decision making but growing in business requires smart risk-taking.

Don’t get to the end of your life and realize you haven’t taken any risks. They might freak you out a little bit. It’s well worth walking away knowing you’ve given it everything you got.

If you don’t risk anything, at the end of the day, that’s all you gain.

Question: What calculated risks have you taken? Did they pay off?

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11 thoughts on “The Importance of Risk-Taking [Video]”

  1. A few of the recent calculated risks I have taken in the last 6 months were:
    1. Invest more time in the local business community – it has paid off
    2. Bring on a manager to oversea reinitiation of operations in the Philippines (a spiritual battle is underway…so I know it will pay off big time!)
    3. Preparing to transition my spouse into our companies full time – I am sure this will pay off 🙂

  2. Carla MusarraLeonard

    Chris, I really needed that. It just so happens that I am smack, dab in the middle of taking a risk right now. I am so out of my comfort zone, but I realized that I don’t want to be looking back on my life with regret. In the past, your words have taught and inspired me. Today, they encouraged me. Thank you 🙂

  3. Too many to name.

    Without going into detail, I can think of five.

    1 was a massive success.

    2 were neutral.

    2 were disasters.

    The 2 disasters cost me about 20 hours and $1000. The 2 neutral ones cost me about 100 hours and broke even financially.

    The 1 success…is ongoing and is making me more money and is more fun than I ever thought possible.

    That’s how it usually goes with risk. But most people aren’t willing to go through the 4 (or 9) disasters or break evens for the 1 major win.

    BEST risk I’ve ever seen: http://www.mattmcwilliams.com/billy-joel-vanderbilt-new-york-state/

    That kid is a huge hit…Why? Because he had the guts to ask for something.

  4. I have three.

    1. Moving to Atlanta on a whim for love. Result, initially a major fail but moved to a great city and met my true love.

    2. Invested $700 to learn something new. Result, a return of 40k in three years.

    3. I just left a job to pursue “Awesome” (Jon Acuff) in by starting my own business in sales and training. Result, I am in the middle of the forest lost, lonely, and looking over my shoulder a lot. But after viewing this pod cast my tank is on full and ready to kick fear and worry in the gut today and beyond. Thanks Chris and crew.

  5. 1. I resigned from a family business to launch my own firm.
    b. I was asked to bear my soul by speaking to an audience of 500 and I went ‘all in’ to raise awareness of the value of human life.
    III. I share my faith at the risk of being mocked (which isn’t that risky for me because I sort of like being mocked.. sick, I know). Great post Chris and I dig the racing stories!

  6. We’re in the middle of a couple of calculated risks….
    1). Moving our family to a new city to plug in with a church
    2). Launching a life coaching business
    Life gets stale without the risks, but I usually forget that halfway through and wonder why I keep putting myself in “transition” seasons. I’m not ready for “safety/sameness” but I am ready to be out of the launching phase and more into a managing phase when it comes to some of the changes we’ve made.

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