Leadership -- 6 Ways to Be a More Effective Risk Taker
by Duncan Brodie
Leaders who want to achieve success understand that taking risk is an essential part of achieving results. Risk taking is an area that is challenging for many leaders, especially those who have come from a professional background where minimising or eliminating risk was the focus. So what can leaders do to be more effective risk takers?
1. Discover your risk tolerance
We are all very different. Some of us are very comfortable speculating and backing things that are high risk and high reward. Others are comfortable taking moderate levels of risk while some only want to take very limited risk. A simple way of discovering your risk tolerance is to think about the investment decisions you make when it comes to your own money.
2. Step out of your comfort zone
We all have our own comfort zones and boundaries. Your comfort zone is usually where you spend the majority of your time and feel very comfortable and content. The downside is that you may stagnate. Start by looking at projects, decisions, situations that on first glance look well out of your comfort zone and challenge your self to move into that role.
3. Don't let restricted thinking stop you
Our thoughts and thinking can often be a barrier to taking risks. Our natural reaction is to start focusing all of attention on the downsides. We start saying that it won't work or worry about how we will be perceived if it does not work out as expected. When you notice this thought process emerging, stop to challenge what is real and what is made up.
4. Focus on the rewards
People who are successful focus their attention on the rewards if there risk pays off. They might be described as glass half full people. When you are faced with a decision, take time to consider what the benefits will be for you personally, for other stakeholders and the organisation as a whole if the result you are aiming for materialises.
5. Learn from mistakes
When you take risks, you will sometimes achieve the result that you want and other times either fail or not get the result that you expected. The important thing is to stand back, reflect and learn from the mistakes as it builds your future capabilities.
6. Recognise that success and failure are connected
Read anything written by hugely successful people and you will discover that they have had as many failures as they have had successes. Success and failure are connected. Every time you take a course of action that does not work out, you learn something, develop new insights and become more skilled to name just a few. The important thing is how you use these new insights in future to create success.
Bottom line -- If you want to be successful as a leader you need to be comfortable taking risks. I invite you to take the first step to becoming a better leader by registering for my free e-course 7 Secrets of Successfully Transitioning to Leadership at http://www.goalsandachievements.co.uk/resources.php
Duncan Brodie -- Goals and Achievements -- Developing Management and Leadership Capability
Duncan Brodie may be contacted at http://www.goalsandachievements.co.uk