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..

by Deborah Hartung

The Girl Boss Guide To Authentic Leadership

Being a woman in leadership doesn’t require that you channel your inner mean girl or put on your best bro face and impersonate a man– even though that’s what we have all been taught to do. You can break free from the imitations and be an amazing leader by embracing the unique traits we as women possess, using your innate empathy, kindness

Top 5 Budget Blog Photography Tips

Blogging can be expensive. This has been particularly noticeable over the past couple of years where photography has become one of the most important aspects of a blog. We feel the pressure to improve our blog's aesthetic, so immediately go and buy a fancy new layout, save for the DSLR camera and break our bank balances to get our hands on the late
by Elisabeth Coene

How to Be a Successful Businesswoman

''Mom'', the tone in my daughter's voice raised alarm belles tingling in my head… It was the tone she reserved for the most strangest requests, questions or statements. “Mom, I want to become a successful business woman, but I don’t know how. Can you teach me?” I must admit I felt honoured that she labeled me as a “successful business woman”,
by Radhika Chhabria

Traits of Creative Women

Are you someone who can be eating the same cuisine all-day long and all week long? Traveling to that one particular place day after day endlessly yet not getting bored it? Staring at the same old laptop screens and walls, sitting inside mundane cubicles happily? Certainly, I hope not! If you’re a creative human, then you are definitely not such a
by Haseena Bheekhun

Do We Have To Fail In Order to...

Failure. A word and notion still feared today. And yet you hear a lot of talk about failure being a ‘learning experience’, that the ‘only true failure is to stop trying’, that ‘in order to succeed you must fail’, and heard terms such as ‘fail forward’. 
by Haseena Bheekhun

Sorry Not Sorry – Stop Apologising

Part of the 'Mind Your Language' series today's feature is about apologetic language that when eradicated from your day to day language could help you be more confident and effective in your communications with yourself and others.  I have been there myself and this changed my life for the better and I don’t intend to go back. 

Join the discussion!

Leave a Reply

Your email address will not be published.