How To Start Taking Risks

Risks come in all shapes and sizes, with many different levels. Some risks are small with minimal consequences, whereas some risks can be large and life-changing. Inherently, many people think that taking risks is a bad thing. This is a total myth! 

In reality, whether we realize it or not, we take all kinds of small risks on a daily basis. Some yield amazing results and some unfortunately don’t. The point is, risk taking is an essential part of life! In fact, becoming a successful entrepreneur starts by taking risks. Of course, taking risks can be overwhelming, scary, and uncomfortable. But, at the same time, they can also bring about something new and beautiful. 

But, we totally get it, some people may find it difficult to move out of their comfort zone and try something new. However, we know from experience that taking risks can really pay off in the long run. So, today we’ve dedicated a whole article to the art of risk taking. We hope to help you develop the confidence, skills, and risk-taking behaviors that you need in order to go for smarter risks to get what you want. Let’s get right to it! 

How To Start Taking Risks

Learn to assess risks.

Before you can start taking calculated risks, you must first learn to assess risks. This might sound hard, but with a few easy steps, you will be able to better identify which risks are actually worth taking. Here’s how to best assess risks:

1. Identify all your options and write them down—make a pros and cons list!
2. Determine the best possible outcomes (or consequences) of each risk
3. Then, determine the worst possible outcomes (or consequences) of each risk
4. Take time to weigh your options—never make rash decisions
5. Ask for assistance or advice if needed
6. Make your final decision with confidence 

Listen to this episode of Life with Marianna to hear more about taking risks as an entrepreneur. If you want an inside look on how taking a risk can actually be more than worth it in the long run, read this!

Think about the benefits of change.

With risk comes change and with change comes fear. But, not all change is negative. Of course, you can stick to the status quo. Or, you can take the risk that just might change your life for the better. Learn to figure out what’s intuition versus anxiety, and get ahead of it. The last thing you want to do is miss out on the best decision of your life due to fear of change. So, when you’re struggling with a big risk, remember these benefits of change:

• Promotes personal and interpersonal growth 
• Encourages ‘out of the box’ thinking and innovation
• Improves your entrepreneurial skills
• Helps you identify new business opportunities
• Improves moral and outlook on life 
• Increases confidence in your decision making skills 

While you’re weighing the risks versus rewards, check out some of the best entrepreneur podcasts to help with some motivation. And if you need some advice on embracing change, check out this episode from Looking Up.

Take small, incremental risks.

As a new risk taker, you don’t have to come out of the gate taking huge, life-altering risks. Instead, start by taking small, incremental risks. Risks that you have more control over and that don’t drastically affect you or the people in your life. By taking small risks over and over, you will build the confidence you need to start taking larger risks. Sometimes, the key is taking small steps to reach that great reward. Listen to this episode from Him & Her for a better breakdown of how small steps can lead to huge growth.

Learn from calculated risk takers.

An important tip to remember is that you don’t have to do this all by yourself. You can learn from others who have previously been in your shoes. Take some time to research and learn from well-known risk takers like Mark Zuckerbug or Kylie Jenner, as well as the risk takers in your life. You can also listen to podcasts (like these awesome podcasts for female entrepreneurs), watch some relevant TedTalks, read books written by entrepreneurs, and so on. There is no shame in taking some time to learn from the pros. 

Know your why.

What is your purpose in life? Before you can take large, life-changing risks, you have to first identify your life goals and learn to focus on what really matters—you. If you’re unsure of your future goals and plans, it will be much harder to identify which risks are worth taking. So, take some time to think about your personal life and your future goals. Think about your short term goals as well as your long term goals. As you do this, be sure to write them down so that you can take them into consideration in all your future risk taking. 

When in doubt, there’s a podcast episode about it. These episodes from some of our favorite creators are great tools in helping you figure out your own purpose! Listen to this episode of Dear Gabby, this episode of Balanced Black Girl, and this episode of Trying Not to Care for more.

Don’t underestimate yourself. 

This particular tip might just be the most important tip on this whole list. When it comes to taking risks, doubt is your biggest enemy. Many people struggle to take risks simply because they underestimate themselves. In order to take risks, you must have confidence in yourself and trust that you have the skills to make the right choice. Don’t let doubt be the one thing that holds you back from achieving your goals. When it comes to building confidence, we highly recommend listening to some confidence boosting podcasts and these podcasts on mental toughness. 

Reframe your fears.

Like doubt, fear can control your life and prevent you from taking risks. Instead of letting this fear control you, reframe those fears. Reframing your fears is easier said than done, but there are some actionable tips you can use that will make the process easier. This episode of Dear Gabby can give you an insightful look into taking action through fear, instead of standing on this sidelines. The next time you find that fear is preventing your decision making, try to:

• Identify the desires that come along with this fear and imagine positive outcomes, instead of negative outcomes
• Recognize that fears are just thoughts, thoughts that you can overcome
• Keep your fears in perspective—look at them from a different point of view
• Identify ways to use this fear as motivation
• Focus on what really matters
• Speak to someone about your fear 
• Find the root of your fear and decide if it is logical 

For more on learning to conquer fear, check out this episode of Mona-Vated, and this episode of Him & Her.

Resist allowing others to control your life.

To take risks, you must resist allowing others to control your life. When we allow the opinions of others to influence our decisions, we don’t always make the decision or take the risk that is most important to us. Rather than basing your risk taking on the opinion of others, simply take the input into consideration and then make your own decision. This way, you can have confidence that you’re taking the risk that is best for you. This episode of Because I Love You is a great place to start when you want to take the control from others, and hand it back over to yourself.

Reevaluate your mindset.

It’s easy to think of the worst case scenario when we’re taking risks—it’s human nature, right? But we can’t let our fear of failure psych us out of the good that’s to come! Instead of thinking “what if everything goes wrong?” reframe your mindset to, “what if everything goes right?” Actually, what if things are better than you could’ve ever imagined? Change your mindset from negative to positive. Stop being risk-averse, and start viewing risks as a new opportunity!

Embrace the discomfort and hiccups.

Even through success, every decision and risk is bound to meet failure or defeat from time to time. Instead of having super black and white thinking, ditch your scarcity mindset and adapt an abundance mindset, instead! You can have failures, bumps in the road, and hiccups, and still be successful. Honestly, admitting defeat and growing through it is more powerful than trying to pretend it never happens.

Challenge your fears instead of running.

Whether you’re facing huge risks or a few small steps to success, challenging your fears head-on puts you back in control. It’s kind of like if you have a fear of public speaking, the best advice is to get out of your comfort zone and, well, speak publicly! If you want to succeed, you have to learn get comfortable being uncomfortable. If you have a fear of failing, not being the best, or making a mistake, the only way to fight those fears is to prove to yourself that you’re capable. Show intimidation who’s boss—you’re in the drivers seat.

Celebrate small wins.

You may an ultimate goal in mind, and that day will come. But until then, celebrate your small wins! Pat yourself on the back for reaching out to those influential people you want to collab with, coming up with that super creative brand-friendly name, discovering your niche and creating a plan to succeed in it—celebrate it ALL! If you only allow yourself to proud and accomplished when you reach that final, ultimate goal, it’s hard to find the motivation to go through all the steps it takes to get there. Showing up for yourself is one of the most important things you can do—always.

Risk taking is essential to achieve success!

Success is impossible without some kind of risk. And really, the most successful people are the ones who have taken the biggest risks. So, why not join in? With these actionable tips, you’ll be taking risks with confidence in no time. You got this! Here at Dear Media, we hope you found this blog helpful and we encourage you to come back and let us know how your next risk taking adventure goes!

Other blogs that are helpful for entrepreneurs like you include:

• The Best Morning Routine for Success
• Entrepreneur Stress Management
• How to Organize Your Day to be More Productive

For more on personal growth, success, podcasting, and more, head on over to the Dear Media Blog. While you’re there, grab yourself a “Visualize It” mug to remind yourself what you’re working for. And, as always, if you have any additional questions or comments, feel free to leave them below! Until next time, we wish you the best of luck with all of your future risk-taking endeavors!