Business Owners are Risk Takers (0:29)
Does this mean we do stupid things in our business? No. You can take risks, and take them in a smart way.
Example: Hiring a coach. Is it a risk? Yes. But is it a smart risk? Absolutely.
When taking a risk in business, I ask myself what is the worst possible outcome of that risk? When it comes to hiring a coach, the worst case is probably loosing that money. But then I ask myself what I can GAIN from that risk: I can make these connections, get access to x,y,z resources. What I get from the risk, helps me to mitigate that risk.
“When it comes to growing quickly, how can I presume failure and take more risks?”
“The biggest risk is not taking any risk. In a world that is changing really quickly the only strategy that’s guaranteed to fail is not taking risks.
Some of the most rewarding things that have happened in my life have come from me taking risks. (2:50)
When I was 20 I moved to Africa by myself. I didn’t know anyone but it ended up being one of the most rewarding experiences in my life. I ended up meeting my husband, falling in love with Africa, and it completely transformed my life.
Think in terms of risk reward. (3:18)
What’s the potential for growth on the other side of this risk?
When I hired my first coach, it was a lot of money for me at the time. But everything that has come since I made that investment wouldn’t have happened without that risk. I think about that risk a lot, because I wouldn’t be where I am today without it.
Reframe it in your mind: Hiring a coach is no riskier than taking loans out to go to college.
The skinny branches are the risks in life. If you don’t step out, you’re not going to get that reward.
“Living with fear stops us from taking risks. IF you don’t go out on the branch you’re never going to get the best fruit.” -Sara Parish
What are some risks you’ve been thinking about? (4:42)
What risks are you thinking about in your mind right now?
Write them down. Then ask yourself what benefits could come from you taking that risk.
Coach yourself: What’s the worst possible scenario here? Write it down. Come to the conclusion of what that worst case scenario looks like. Sometimes the worst case scenario isn’t actually that bad. There are probably still benefits that can come from it.
Then ask yourself, what is the BEST case scenario of the risk? Manifest that!
(Ex: Hiring a coach, joining a mastermind, spending money on Facebook ads.)
“You can’t be successful in business without taking risks.” -Idina Freedman
Stop living in the fear of WHAT-IF? (8:07)
What if you stay stuck because you’re not taking risks?
If you don’t take the risk what’s going to happen? What are the consequences of staying where you’re at?
Tony Robbins has a Dickens exercise of if you don’t take the risk? What’s the pain that other people around you feel because you didn’t take that risk? How much have you spent elsewhere if you don’t invest in yourself in the risk?
“If it’s not scary, you’re not really growing.”
You were made for more! (10:03)
Remind yourself that you are worth the risk. It’s YOUR life.
ASK YOURSELF: What’s the next risk that I should take to see the BIG reward?