April 25, 2024

Cathedral of Praise

Maximizing Your Business Potential

What You Can Learn From Taking Risks

Have you ever been in a position in your business where an opportunity comes up and you know it will benefit your business to take it, but it’s going to cost. It may cost a lot financially and maybe you don’t have the cash in hand. Maybe it requires you to put your reputation on the line. Maybe it requires you to do something that you don’t quite feel equipped for. When faced with these type of decisions ask yourself the question: “If I manage to get this right, how much will I have learned in the process?”

Taking Risks helps you to Grow and Expand your Capabilities

I have worked with many clients who hesitate and say to me: “But I have never done that before!” Fortunately most of them don’t allow that to hold them back. I have one client who had some expertise but he didn’t know how to package and sell it. I helped him to put it together and price it at a much higher level. I helped him to realize that his initial price point for the level of expertise that he was offering was far too low. The product sold for $5000 and it was my recommendation to sell the product from the stage. The idea terrified him as he had never presented on stage before and he certainly had no experience as a sales person. The great thing is that he took on the challenge. He knew he would be risking his reputation and breaking new ground, but he didn’t let it stop him. When I followed up with him a short while later he had already sold 25 products and he was so excited about it. He learned that he could do something new. He just needed to be willing to take the risk and step up to the challenge.

The benefits of Taking Risks

• Taking risks is a big part of being a business owner. Not everything can be carefully calculated. Sometimes you just need to go with your gut and risk it.

• In taking risks you open yourself up to new opportunities. You can learn new skills or discover some that you didn’t know you had.

• Taking risks is a way of expanding your capacity and your way of thinking. When you are willing to take on risks you tend to have a broader view on things and this can create many opportunities for you.

• Taking risks helps you to gain momentum in your business. Because you have risked something it spurs you on to make a success of it.

• In the same way taking risks can energize you to think more creatively and find solutions to the challenges that you face.

• The more accustomed you get to taking risks the more courageous you will get. With each risk that you take that pays off you learn the value in it, and this encourages you to look for other similar opportunities.

Many people shy away from taking risks preferring to take the safe and secure path to success. However, any person that has achieved a great level of success will tell you that they would never have got there if they hadn’t been willing to take risks. Taking risks can teach you so much about yourself and your business. Being willing to take risks will also open up many more opportunities for you to grow your business.