How To Set Goals By Transforming Risk into Reward
I am from a conservative family. We tend to be cautious and slow to make decisions. But I have taken a LOT of risks! Some led to fantastic outcomes, and some were great learning opportunities.
I have come to learn that being cautious doesn’t mean inaction! Unfortunately, we often allow fear of the unknown to influence our ability to move forward, even when we know what to do.
Entrepreneurship Is All About Taking Risks. Sometimes, those risks pay off in a big way. For example, Shellye Archambeau, in her book, Unapolageticly Ambitious, says, “If you avoid taking risks, you limit your opportunities” and, “Risk and reward are two sides of the same coin.” The trick is to “develop the confidence to flip the coin.”
Here is Archambeau’s 3-step plan for turning risk to reward.
Have support - Surround yourself with advisors for the times if and when you Need help. And ask for help when you need it.
Trust Yourself - Develop trust in your abilities whether each step you take results in success or failure.
Look at fears vs. facts - Mitigate fears with facts by comparing the two. Ask, what are the potential rewards, and what’s the worse that can happen?
Sometimes we shy away from risks by making rational decisions (excuses) based solely on our fears, resulting in us wondering “what if.” What if we took the first step rather than running away?
I recently accomplished a life goal - learning to swim. I have had a fear of swimming since an early age because of an illness I had with my eyes. I was healed of this illness in my late teens and couldn’t get past the fear. As I got older, I made many excuses to avoid taking lessons - my hair, age, time, and on and on.
With the help of a personal coach, I made a goal in 2021 to take lessons, which I did! Then in 2022, my goal was to swim the length of the pool with the proper breathing technique by May; I did it in March! Not only did I learn to swim, but I also made new friends and now have a new “family!”
What risks are you avoiding, what fears do you need to overcome, and what goals have you set for yourself? Are you taking the steps you need to achieve them? Are your goals written down and visible? Are you considering a new job, developing a new product, starting a new business or side hustle, or gaining a new certification?
Get Started!
I help entrepreneurs at varying stages of their business transform risk to reward by improving their marketing message with strategy and good design. If you are an entrepreneur who needs help taking the first step toward achieving a goal in 2023, get started by scheduling a 15-minute coffee break to talk about your plans.
