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How to Take Calculated Risk to Achieve More and Become Successful

How to Take Calculated Risk to Achieve More and Become Successful

Risk is something we all have to face in our lives but appreciating its value and impact on our lives is not always easy.

I asked my social media friends on a survey whether they felt risk was a good thing and 100’s said yes and yet I know from my clients that this doesn’t equate to 100% of people taken every risky action they could to achieve more and live a life that fulfils them.

Take the client that needed a coaching session to get them to take the jump into self employment. They knew in their heads that with over 20 years at the pinnacle of their career, they could do it. But they needed their coach to be the one that took the training wheels off and said “let’s do this!”

We don’t all take the risks we should in life. What makes a risk feel too big? What external impactors change our perception of risk and what’s the difference between good risk and bad? When should we be risk adverse? And how can we work out the difference and step up to take the risks that could change our lives (for the better)?

What is calculated risk?

Let me ask you:

“Would you cross a 3 lane road of fast moving traffic?” The answer is likely to be “no” right?

What about if I asked “Would you cross 3 lanes of traffic at night?” Still a “No?”

What about if I said “Would you cross 3 lanes of traffic that had a pedestrian crossing?”

Look how the risk changes. It is the same road with the same cars, but we’ve gone from a risk that we are unprepared to take to one that has an element of control and expected outcomes. That is what a calculated risk is.

Would you quit your job right now and set up in business on the street corner in an hour’s time? No of course not. However, would you quit with a plan of action in a set period of time? Possibly?

The thing about calculated risk is that humans have to deal with their perceptions or reality, their emotions, feelings and even beliefs to be able to take on risk. And that is why you may see 100% of people saying “Take the risk”. However if questioned further, I could probably find at least one occasion where every single person should have taken the risk and they didn’t.

I’ve seen people turn down contracts, delay travelling, delay saying “yes” to marriage, delay quitting their job and even delay having their hair chopped off because they’ve not been able to calculate the risk with an outcome that they deem will be satisfactory.

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Is all risk calculated?

In a speaking engagement, I once re-enacted the moment when the hero of the film is hanging on for dear life to the side of a mountain. There’s no hand places left going up. They can’t go down and there’s no way out, the baddies are shooting at them from every angle and you think “there is no way out of this!” and then miraculously they let go tumbling through the air, landing in a helicopter that flies into view being flown by the gorgeous incredibly clever side kick.

Risk is a bit like that.

The first time James Bond, Jack Reacher or Lara Croft let go and went in a new direction, they were probably experiencing massive levels of fear. However, by overriding that fear, they were able to create a new definition of what is possible. It’s not called mission impossible for nothing.

But how can we know it’s a good idea to jump and when it’s going to lead to impending doom?

Interestingly, children seem to be risk blind for a while. It is adults that stand behind them shouting “don’t do that, you will fall and break your neck!” Do children stop doing stupid things? A and E departments would argue no.

But if we didn’t take on risk we’d never learn to walk. The first time you pulled yourself up on to your legs and stood there jumping up and down with a grin that says “Look what I can do” was sheer joy, not so much fun the next time you tried it and nearly removed your nose. Most parents will have a story of how their child made their hearts leap with absolute terror as they did something stupid, but risk needs us to test its limits or we will all be still sat in baby gyms unable to reach the cool toys.

The reason some people achieve great things is because they are prepared to test their risk limitations.

How to grow your risk tolerance to achieve more?

Here I’ve aimed to break down what you need to keep your eyes peeled for, how to fix what you find and what you need to do so that you can calculate risk and achieve more with the following methods:

The RRIS method

R – Research everything you aim to achieve.

But also know when to stop researching and get on with it. The amount of clients I’ve worked with who are so ready they could be the most intellectual person on the planet on their area of expertise.

It’s easy to get in the trap of “doing just a bit more research” to get you out of taking action. So do your research and use the other tips to help you to take action on your knowledge.

R – Rationalize your reality.

I often hear clients say things that once said back to them they can quickly (and often embarrassingly) see that it’s just not true. They’ve twisted reality to enable them to stay safe.

Question what you believe to be true and the results you perceive to be impossible to avoid. Do you have evidence to prove your reality or are your thoughts just enabling your comfort zone to stay the same size?

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Comfort zones are like big thick duvets. Glorious in the middle of winter with the rain battering the windows and you are curled up safe and warm, but hideous in summer, when the same duvet can wrap itself around you becoming a sweaty trap for your legs to get caught in.

If you know that a comfort zone is twisting your reality, you can be like two versions of my clients:

  1. They like to get so far out of their comfort zone that they can’t see it any more. They do big actions putting into action the right support to achieve them. Learn and move on.
  2. They would literally feel stuck in fear if you offered them option 1, therefore they like to do things in small tiny morsel sized bites. If this is you, arrange to challenge your beliefs around anything in your life (not just related to the calculated risk to achieve more).

If you like structure, start the day in a way you wouldn’t. Get dressed before you brush your teeth, listen to a different radio station, choose a different route to work.

Silly things that make you think about what you are doing can help you see that different is not bad. Different can be exciting, new, rewarding and so much else. And tiny steps can be right for some.

I – Ideas can reduce or inflame our capability for calculated risk.

Before you do anything, somewhere in your head it was a thought. When you really appreciate this, you are able to see that before you take on any risk, you have to have the ideas behind it to achieve.

Ideas like this will be exciting, life changing, and will work and make my career. What phrases would you create to describe the result of your idea?

If you notice they are negative, where’s your evidence? Clients often tell me that I make them take risks. As a coach, that’s impossible. My job is to enable them to see what they really want and overcome the beliefs and obstacles towards going for it.

Once we are faced with our facts on our skills, past successes and capabilities, we can’t help but ask “what is stopping you?” By doing this, you are creating solid foundation to get great results because your ideas are positive and not made up of illogical untruths like “it won’t work”, “what if I fail”, “it’s not done like that”, “I will end up looking stupid”.

S – Success over scares

It is a calculated risk and therefore something that is worth investing in and going for when our level of fear is reduced and our belief about success is raised. Where do you stand on this scale?

Scared! vs Success!

Now add in the following words to the above scale. Where would they sit?

  • Staying safe
  • Stuck
  • Self esteem
  • Stopping myself

Can you start to see how there is a big gap between scared and success? And between the two there will always be elements of feeling safe or stuck and worrying about whether you can do it. The important thing to remember is that you will never completely bridge the gap between scared and successful. A little fear is really good for you.

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I’ve never had a speaking engagement where I don’t feel a little nervous. 9 years ago that wasn’t nervousness that was absolute terror. And I once read “it’s not stage fright, it’s performance energy.”

What description would you like to use do describe your calculated risk? If you were to say it out loud, would it be a positive sentence or one that reduce you to fear? Your words and finding your place on the scared to success scale could define your likelihood of success.

The know-it kit

Taking the risk is scary, from the client that wanted to confront their boss of 10 years and make a suggestion that they knew flew in the opposite opinion of their boss, to the singer who is too scared to stand in front of an audience. The important thing is to remember that you are in control of the risks you take and a know it kit can help.

Know the times you’ve been successful.

Lot’s of clients will tell me that their fear is overriding their beliefs about what can be achieved. At times like that it’s no good to think something different and expect it to magically make it seem easy.

Get the facts on your side. As much as you heart will fill your head with negativity, hanging on to the facts of what you’ve already done in life is something you can’t argue with.

Know the skills you have.

As above, when we take on a risk, we need to know we’ve got what we need to get the results we want.

Know that mistakes are good.

No exceptional rise to success didn’t have set backs, no great inventions didn’t have failures (with many of those becoming inventions in their own right) knowing that mistakes are an opportunity to learn and good for the end results can ensure you take action even when the fear is raising its ugly head.

International Vocal Coach Gemma Milburne shared,

“I think many of the greatest singers are the most willing to take risks. You have to risk going out of tune, making mistakes, sounding awful, in order to get REALLY good at singing. As a vocal coach a lot of what I’m doing is helping singers to face that ‘mental’ risk that’s in a person’s head.”

Know the people you can trust.

When everything is in place, you’ve got the evidence, you’ve done your research, you are accountable, focused and ready for action, sometimes just a chat with the right person can be all you need.

Who is in your Know it Kit? You can trust them to say what you need them to say. And not just “you will be great dear, go for it.” Having the right people there that will challenge, empower and ensure you’ve ready in every capacity to make it happen.

Before a petrified public speaker has taken to the stage or a client has walked into a room to go for their big dream, I’m often the one they text as they walk in for that last minute reminder that they’ve got this.

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Know the way you have to feel.

And lastly, don’t forget that even with the right words from the right people, it is still down to you.

Sometimes cultural beliefs and feelings can slip into our mindset, other people in the same industry can tell us “it’s never been done like that” and it can knock our focus and derail our thoughts.

How do you need to feel to get the results you want? If I told a person from 200 years ago that they could fly anywhere on this planet in the same day, I’d likely have been locked up. Our beliefs change with time and experience. Do you want to be the person that creates the thoughts and beliefs of the future? Or wait for someone else to have taken the risk (and the glory!) and to leave you wishing “I wish I’d taken that risk”?

Face your fear and take risks

Looking back to myself years ago, Mrs. Nervous Wreck lacking in confidence…

She looked up at the chandelier that was taller than her house and tried to focus her thoughts. No amount of “thinking positive” was working and she just wanted her spleen to burst so she could end up in hospital safely away from this extravagant room and all these people. How could she ever have thought it would be a clever idea to speak to a room full of her peers?

Less than 5 months prior to this moment, she’d stood in front of just 25 business owners and faffed, and fumbled through her words, feeling like a complete fake wishing to never see any of these people ever again. Heck even a career in a local fast food place would be better! She’d made a memorable impression but for all the wrong reasons and one of the audience had taken great delight in reminding her of her epic fail, so what had driven her to do it again?

That was me but for some reason, I’d decided to take the risk and speak on another stage in front of more people.

In many ways, I was hardly recognizable from 9 years ago to today when I’m described as “one of the best speakers I’ve ever heard” and “changed my life in one hour.” Clearly my ability and attitude to speaking to an audience changed but what else?

It was how I faced my fear and how I grew my risk tolerance to achieve more.

By taking my advice on how to take calculated risks, you will gradually find yourself becoming braver and embracing more opportunities. You’ve got this!

Featured photo credit: Pixabay via pixabay.com

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Mandie Holgate

Coach, International BEST Selling Author, Speaker & Blogger helping thousands around the world.

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Last Updated on May 22, 2019

Ditch Work Life Balance and Embrace Work Life Harmony

Ditch Work Life Balance and Embrace Work Life Harmony

How do you usually go about your day?

Do you wake up in the morning, get ready for work, and then spend the whole day looking forward to being at home and unwinding?

We often hear about work life balance – having a good balance between work and personal time. Whilst this may sound like a smart idea, it can also imply that we should dedicate at least half of our time to work–and sacrifice time for our “personal life”.

To me, that seems…off balance. Because, the truth is, it’s nearly impossible to split your time equally between the two. And, you may end up stressing out if you’re not able to meet that expectation of balance.

Instead, why not think of having work life harmony instead?

With this mindset, you can actually integrate work into your life in a way that feels more complete. This way, you don’t need to view work and having personal time as separate.

So, how do you achieve work life harmony?

Work Life Harmony Explained

The difference between work life balance and work life harmony is pretty simple.With the former, there is an implication that you have to sacrifice your “life” for work. But, this is the worst way to go about things! How can you truly be at peace in life if you dread 8 hours of your day?

Work life harmony on the other hand, allows your work to be a part of your life. This means that you can choose to be happy both at home, and at work! Work no longer needs to be seen as the ‘bad’ or un-fun activity.

Having work life harmony also ensures you’re truly present in whatever place you find yourself.

Just take a look at Jeff Bezos, CEO of Amazon for example.

He uses a non traditional approach to work by making time for breakfast every morning with his family, doesn’t set his alarm before going to bed, schedules surprisingly few meetings, and still puts aside a few minutes every day to wash his own dishes.

He believes that all his staff should stop trying to achieve a ‘balance’ in their work and personal lives as that implies a trade off. Instead, he envisions a more holistic relationship between the two.

As the world’s richest man, he must be doing something right!

Rethink Time Management

Now, when we think of striking a balance, we usually associate it with time, don’t we? How much time are we spending at work versus how much time are we spending in our personal lives?Are we taking enough time to be with our loved ones, to do meaningful activities with others or even for ourselves, or are we just dedicating all our time to work?

This is the so-called-balance that many struggle with.

With work life harmony, we learn to rethink time management. By re-assessing how you manage your time, you’ll have a lot more of it. It’s incredible how much time can get wasted over the period of a day–especially when you’re not accurately tracking it.

Unfortunately, unless you’re consciously making an effort, your brain is not always the best at making accurate judgement calls when it comes to prioritizing. It tends to have a bias towards short term benefits and short term costs.

As there are often many more options our brains link to short term benefit; when you’re trying to focus on a task that gives you a long term benefit, that task usually becomes low priority. This is otherwise known as Priority Chaos.

In order to overcome this and be in better control of your time, identify the tasks that need the most focus to get accomplished. If it’s a big task, then it’s good to break it down into smaller bite-sized actions that will provide you with a clearer short term benefit.

When setting up tasks, give yourself a time limit. The brain has a bias towards short term benefits, and your attention span is limited, so if your tasks are going to take ages to complete, you’ll end up losing focus… and wasting time.

Once you have all your tasks written down, it’s time to prioritize them. Since you have a time limit, your focus should be on the top priority tasks. By doing this, you will already be able to get more done in less time at work!

Have Passion for What You Do

Managing your time is important in achieving that work life harmony. But, perhaps of greater importance, is loving what you do in life.One of the most effective ways to achieve a work life harmony is to really enjoy, or find a purpose, in what you do for a living. Even though everyone isn’t always lucky enough to find a position that pays them for pursuing their passion, you can strive to find meaning in what you are already doing, or pursue something new entirely!

For example, say you work at an office that sells paper. While many people wouldn’t consider this a world changing pursuit, I beg to differ. Think of all the individuals in the world that rely on paper. From creative types to quantum physics experts, your role at your workplace brings incredible value to many many people all over the world. You will have, without a doubt, helped bring a new idea into existence. Several new ideas to be precise.

So have a think about what you’re doing now. Is it something that allows you to embrace your passion?

Or perhaps you might not even know what it is that you love or enjoy doing. Why not explore and reflect on what gives you joy and contentment? Is there an area or industry that you could see yourself exploring to experience that fulfillment?

Can you find a deeper purpose in what you’re already doing?

When you’re able to find meaning in your work, you’re that much closer to achieving work life harmony.

Don’t Be Intimidated By Obstacles and Limitations

Creating work life harmony is also about understanding yourself–which includes your limitations and past obstacles–as this allows you to become more resilient.

If you never had to experience struggles, challenges or setbacks, then you would never be forced to adapt and mature. So in theory, having to face obstacles in life is actually quite necessary.

Most of us think of setbacks and obstacles as negative. Though, if you’re able to maintain an optimistic attitude, you’ll almost always have a higher chance of success of overcoming those obstacles to reach your eventual goal.

Your attitude towards setbacks will define the outcome of whether you rise from the challenge or remain stuck in it. So, in order to achieve work life harmony, it’s important to have a resilient attitude as challenges will always come your way–especially when you strive to integrate work into your life, and not a separate or dominant part of life.

Delegate When You Need To

Of course, when you want to increase productivity and minimize the time or effort spent, a great way to do so is to delegate!

If you spend a lot of time doing tasks on your own that could be delegated to others (whether at work or at home) you’re losing a lot of precious free time that could otherwise be spent elsewhere.

At the end of the day, we all have a limited amount of time. So we should all be striving to create a harmonious work and living situation where we can find meaning in all that we do.

While an overall goal may be meaningful, not all of the milestones or tasks needed to get there may be meaningful. That’s because we have our strengths and weaknesses, likes and dislikes. Not every task is going to be enjoyable or easy to complete. That’s where delegation comes in.

Delegation simply allows you to leverage time from an external source, thus giving you opportunities to increase your own quality of time. Keep in mind that delegation should be done with deliberate attention, otherwise you may end up over relying on others.

If you find that you’re running into the problem of over delegating, then it may be time to re-evaluate your motivation for doing whatever it is that you’re doing.

Embrace the Circle and Become Happier and More Productive

Living in harmony is about feeling good about the ways in which you spend your time, despite how busy you may be.Your switch from work mode to a more personal mode should be effortless. It’s about integrating your personal life and the things you love into your busy work life!

It all begins with the shift in perspective. Understanding what your passions are, and learning to be resilient, before taking a different approach to the way you manage your time and everyday tasks.

These are steps that you can start taking to move away from balance to harmony. 

Featured photo credit: Photo by Marten Bjork on Unsplash via unsplash.com

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