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How To Take Risks (Without Betting Your Business)

How To Take Risks (Without Betting Your Business)

I’ll be the first to say that the uncertainty in business is messy.

Real messy.

Especially when you want the risks you do take to pay off — big! Most of the time, if we’re honest with ourselves . . . we don’t want to take any risks.

We just want to create things and have people buy our stuff. But it doesn’t work like that, does it?

Running your own business you’re most likely playing to win.

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Although we may not come out on top all of the time, we can limit our risks significantly.

Planning to grow your business includes stepping out on a whim and following your gut. Your next brilliant idea can have you betting on a losing hand, if you don’t do these 3 things to minimize your risk and increase your gains. It could be what stands between you and your extra thousand dollar payoff.

1. Create Mini Projects, Not New Businesses

Can you say shiny object syndrome? (Definition – The immediate need to create an entirely new business model after being inspired by a dream you had last night.)

Before you begin drafting a flow chart, changing website copy and creating a whole new advertising campaign, play with the idea. Some projects need to be left in the idea phase, and some need to be tinkered with before you can move forward with a solid plan of action.

The awesome thing about working for yourself is being able to toy with new ideas and play with how to implement them into your current business.

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Where we get carried away is when we abandon one thing to chase another.

Calling your new idea, a project you’re “beta-testing,”is an easier pill to swallow than a business fail.

2. Start With A Low-Cost Trial Run

Are people excited about your new idea?

The sure fire way to find out is to put it to the test! Before you build a brand new marketing budget, set up a landing page with the benefits of your “beta-test” service.

  • Share it with existing clients on your mailing lists.
  • Reach out to new prospects on social media.
  • Throw it out there to a Facebook group in which your target audience hangs out.
  • And have a call to action to either collect emails or purchase.

Getting emails or better yet, dollars, confirms there’s a need. Wherein you can create a full-blown service.

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Investing too soon without the thumbs up from your ideal client, is shooting your business in the foot and will leave you broke (in time and money).

With today’s technology, it’s fairly easy to try out new ideas quickly.

3. Hit-up Your Competitors

Reach out to those dominating the spaces you have an idea for.

This is to see what works, not to share your idea, of course. Find out if has been done before what the current struggles are. Just because someone else is doing it, doesn’t mean you shouldn’t.

It confirms they’ve found success and left a blueprint for you to acquire the same.

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I have been guilty of trying to be too different and falling flat on my face. My industry space does things a certain way for a reason; because it works! Take my hard lesson and arm yourself with the data that turns ideas to $$ profit.

Never stop tinkering with fresh new ideas and beta-test them. This keeps you ahead of the game and innovative in your industry space.

If someone had to told me not to start a hot new business venture because it was “easy to do.” I would have avoided the painstaking months spent pounding my head against a brick wall trying to launch a SAAS ( Software as a Service).

Not to mention megaphone announcing to my family and friends “I’m building a software company!” with no tangible results to show 6 months later.

Nothing is ever a loss though, we learn from our mistakes and failures, but if you can avoid them straight to the bank –do that.

What’s your next calculated risk?

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Last Updated on May 23, 2021

10 Best Free Job Apps You Need For Effective Job Hunting

10 Best Free Job Apps You Need For Effective Job Hunting

Seeking for the right job but not sure how to do it in a more effective way?

Try job search apps!

To make the job hunting process easier, I’m recommending 10 best job apps that can help you look for the right match anywhere at any time. The best of all? They’re all free!

1. jobandtalent

jobandtalent

    Great for browsing new jobs as you commute home via subway, bus or carpool, the jobandtalent app is like a Pinterest for job seekers.

    Easily browse, save and revisit job postings from your smartphone and receive notifications about jobs that match your professional qualifications.

    Download it for iOS and Android.

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    2. Jobr

    jobr

      This job hunting app is unique in that it lets you anonymously browse job listings based on your professional resume. If a company that you like also shows an interest in you, the app let’s you chat directly with a company rep. Great for getting your foot in the door and making a memorable impression.

      Download it for iOS.

      3. Monster Job Search

      monster job search

        I’m a big fan of Monster. It’s one of the first job sites employers think of when they want to list a new position online. The Monster Job Search app functions pretty similarly to the normal website, so it’s very easy to use for not-so-tech-savvy job hunters.

        Download it for iOS and Android.

        4. Jobs and Career Search

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        job and career search

          This is a good, simple app for browsing global locations for your next job. With a job index of more than 50,000 jobs listed globally, this app is a good choice if you are moving to a new area and want to line a new job up quickly.

          Download it for iOS.

          5. Hyper Networking Groups

          hyper networking groups

            This job hunting app isn’t so much a job hunting app as it is a connections hunting app. It’s great for learning who’s who in your desired field and forming connections. It also shows you how you and your industry connections are connected via your social networks, so you can follow up with them on your other social sites.

            Download it for iOS.

            6. CardDrop

            CardDrop

              CardDrop is an awesome job hunting app that let’s you digitally drop and pick up virtual business cards. This app is great for helping you make new connections at seminars, interviews, meetings and conferences. You can also attach social media profiles to the cards you pick up or send to enable easier connecting on social networks.

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              Download it for Android and iOS.

              7. Job Interview Questions

              interview questions both

                Okay, so this app looks kind of outdated, but it’s super useful for getting you into the swing of answering any kind of interview question that is thrown your way. The big benefit of using this app is that it explains to you what your interviewers motivations might be for asking you a specific kind of question. Learn what your interviewer is looking for in your answers and be more prepared for the real interview when the time comes.

                Download it for Android.

                8. 101 Interview Questions and Answers

                101 both

                  This app is great because it provides guidance about the kinds of answers you should give for each kind of question. Think of it as an essay rubric but for job interview questions.

                  Download it for Android.

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                  9. Job Interview Question-Answer

                  q and a

                    Feeling confident with your text-answered interview questions but concerned about doing the face-to-face interview? This app prepares you for interacting with your interviewer by simulating an employer asking you questions.

                    You can record your response and see what you look like to the interviewer to understand what movements, vocal pauses, etc. you need to work on.

                    Download this app for iOS and Android.

                    10. HireVue

                    hirevue

                      HireVue is a great job hunting app for those times when your interviewer wants to get some preliminary questions out of the way.

                      When an interested employer wants to interview you, they send you a request via HireVue and you can answer it in your free time, when you’re ready. Your interview might consist of a some FaceTime, some multiple choice questions or open-ended text answers and can be completed and sent to the interviewer when you’re finish.

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                      Download it for Android and iOS.

                      Featured photo credit: Yura Fresh via unsplash.com

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