The Importance Of Risk Taking In Leadership

All leaders have a clear vision for their lives.

They are willing to go through tough waters to achieve their vision.

However, they know that the greater their vision, the greater the focus needed, the greater the risks taken, and hopefully, the greater the reward.

Wondering how to take risks and step out your comfort zone?

The Importance Of Risk Taking In Leadership

Taking risks means stepping outside of your comfort zone.

Furthermore, risk taking is an inherent human trait and plays a major part in the life of leaders.

Risk taking may depend on the leader’s age, generation and financial background.

Risk taking is contagious. When your team sees you initiating risks and stepping out of your comfort zone, they ble will feel more comfortable doing the same.

For the past few years, risk taking has been treated like a disease.

Nowadays, taking risks is valued because it provides opportunities even though the consequences can be disastrous.

I believe that the old saying “with high risks come high rewards” is still defensible.

Taking risks is not reckless as long as they are calculated.

Why should leaders take risks?

Some people try to avoid risks and others fearlessly walk straight into it.

However, leaders are willing and obligated to take risks.

The key rewards of risk taking as a leader include longevity, meaningful experiences, increased finance, and a more motivated, loyal and trustworthy team.

People don’t take risks simply because of fear. They are generally afraid of failure, of success, of being vulnerable, being wrong, or admitting their errors and limits.

How to take calculated risks?

Risk taking can be an effective leadership strategy. To take calculated risks:

  1. Define clear goals and a vision.
  2. Gather information to estimate your risks. Do your research to unveil potential obstacles and give yourself time to find a solution.
  3. Measure your resources and the costs of your actions.
  4. Take a moment to evaluate the negative and the positive outcomes of your decisions. Study the pros and the cons to make the right decisions.
  5. Do something that scares you everyday. Get out your routine and try new activities to uncover your limits and who you truly are.
  6. Be aware of your own abilities and surround yourself with people with complementary skills.
  7. Learn to trust yourself and your decisions. It is important to listen to your gut, to distinguish your intuition from your emotions, to avoid overthinking or over-analyzing your decisions.
  8. Understand that you are your only limit and that you set your goals.
  9. Increase your emotional intelligence. Don’t let your fears make decisions for you. What ifs will stop you from taking chances.
  10. Learn from your past failures.
  11. Practice taking risks and prepare yourself for rejection. Rejection is not as bad as it seems and usually doesn’t last as long as regret. Regretting a moment or a situation is definitely worse than being rejected.
  12. Avoid spreading your self thin, examine opportunities that come your way, and learn to say no to opportunities that seem too good to be true.
  13. Test your ideas to a wise sounding board that you trust and that can be candid with you.
  14. Be reactive. Be on the lookout for possible breakthroughs or setbacks, and be ready to correct mistakes.
  15. Embrace change and always expect the unexpected.
  16. Don’t try to be perfect. In case of failure from risk-taking, practice forgiveness. and failing forward.
  17. Don’t make assumptions and keep learning.
  18. Become resilient.

Last Words Of Advice!

In life as in work, risk is inevitable just like failure is. Remember:

  • Fortune favors the bold.
  • The risk is always worth being taken and can be life-changing.
  • Don’t be too overconfident or completely eradicate fear in order to properly estimate risks.
  • Recognizing the positive outcomes of your risk taking will create momentum and gain in confidence so you can do it again.

Let me know when was the last time you have taken risks and what was your reward?

Hope that I’ve helped you get it together on your way to leadership!

Don’t forget to like, share and leave a comment below.

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Journey To Leadership retains and shares the tips for the workplace.
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