One of the best of all exercises, in every situation involving uncertainty, is to assess and evaluate the worst possible outcome. Ask yourself, “What could possibly go wrong in this situation?”
Remember Murphy’s Law: “Whatever can go wrong will go wrong.” There are several secondary laws to Murphy’s Law, such as “Whatever can go wrong will go wrong at the worst possible time” and “Of all the things that can go wrong, the most expensive thing will go wrong at the worst possible time.”
Another sub law is “Everything takes longer than your best calculation.” In advising businesspeople, I suggest that they take their very best estimate of break-even for any business venture and then triple it to arrive at a more realistic number. Whenever businesspeople follow this advice, they are amazed to find that, in spite of their best initial calculations, it indeed takes about three times longer than they thought it would to start making money.
Once you have identified the worst possible things that could go wrong, make a list of everything that you could do to offset these negative factors. Engage in what is called “crisis anticipation.” Look down the road, into the future, and imagine every possible crisis that could arise as the result of changing external circumstances.
One of the very best ways to develop your ability to take intelligent risks is to consciously and deliberately do the things you fear, one step at a time. You don’t have to leap out of an airplane without a parachute. That is not risk taking. That is simply being foolish. What you do have to do is to resist your natural tendency to slip into a comfort zone of complacency and low performance.
Many of our fears of taking risks turn out to be unfounded. They have no basis in reality. When you test them, you find that they don’t even exist. A very good way to overcome the fear of risk taking is to set clear, written, measurable goals for yourself, and then to review those goals regularly.
When you have clear goals and plans, and you continually work on them and evaluate your progress each day, you will see what you’re doing right and how you could improve your performance. You’ll feel more competent and capable and better about yourself. You’ll become more thoughtful and reflective and willing to take on even greater challenges. You’ll feel like the “master of your fate and the captain of your soul.” And your fears of taking risks will become smaller and smaller.
You learn how to take intelligent risks without fear by taking intelligent risks, and then by analyzing what happened. When you have clearly identified the risk involved, you can plan and prepare to maximize your opportunities while minimizing those risks. The more positive you feel about yourself, the more effective you will be in everything you undertake. Your ability to confidently take calculated risks in the direction of your goals will ultimately lead you toward success.
About the author:
Brian Tracy is a legendary in the fields of management, leadership, and sales. He has produced more than 300 audio/video programs and has written 28 books, including his just-released books “Create Your Own Future” and “Goals!” He can be reached at (858) 481-2977 or www.briantracy.com.
About the Author
Tripp Braden partners with entrepreneurs and senior executives on their high engagement C-Suite communication and content marketing strategies.
He believes client education is the best way of building trust and long term sustainable growth.
His consulting practice focuses on second stage entrepreneurs, technology organizations, and senior level business executives. Tripp partners with clients to develop high impact C-Suite communication and account based marketing strategies.
If you’re interested in learning more, contact Tripp at tbraden@marketleadership.net or send him an invite on LinkedIn. You can find Tripp’s business growth blog at Market Leadership Journal.
Tripp Braden – who has written 2185 posts on Common Sense Leadership.
