Risk and reward

Over the holidays, I decided to drive north to enjoy a few days with family. Living in Canada, weather in December can be unpredictable and I just happened to pick the snowiest day of the season to make the trip.

I had a decision to make. Should I make the three-hour drive up a busy highway with holiday traffic and poor visibility? Or, should I stay home alone and watch holiday movies while indulging in chips and dip?

We’re faced with risks to different degrees every day. Some we mitigate without even thinking, like putting a seatbelt on when we get in the car. Others, we assess thoroughly, like making an investment.

I weighed the risks of a wintry drive and decided if I prepared, I could minimize the risks and get there safely. I packed my car with extra warm clothing, warm boots and a blanket in case I found myself in a ditch. I left earlier in the day to beat the storm and the traffic. I also fully charged my cellphone in case I needed to make an emergency call.

I made it there safely and was happy I took the risk.

Assess the risk

When faced with a desire to do something that’s unusual or out of your comfort zone, it’s a good idea to assess the risks. What are the potential hurdles you might encounter? Weigh the risks and consider how you’ll mitigate each of these risks, if they should happen. By assessing the risks in advance, you can decide if it’s a risk you’re comfortable taking.

Be open to opportunities

What happens if you never took a risk? You might miss out on a wonderful experience. Taking risks can lead to numerous positive outcomes. Here are a few.

Personal development
Taking a risk pushes you out of your comfort zone, leading to new experiences, personal development and creative ideas that wouldn’t emerge from playing it safe.

Valuable lessons
Even if a risk doesn’t pay off as expected, it can provide valuable lessons and insights. Last summer, I started a new business. Even if I don’t succeed, I will have learned so much more from having dealt with suppliers, finding resources, writing business and marketing plans, etc.

Conquer your fears
Taking risks can help you face and conquer your fears, boosting your confidence and resilience.

As a teen, I was on a downhill ski team. We raced on the weekends. I remember being in the gate at the top of a very cold and icy mountain, shivering and afraid. I had to take the risk; my coach wasn’t going to let me off. I remembered my training and made my way down the hill. I made it. Not the best time, but I made it. Each race afterwards, I approached with more confidence.

Accomplishment
When you take a calculated risk and you’re successful, you’ll have reason to celebrate. Just think how good you’ll feel. Even if the end result isn’t what you hoped for, you tried and that’s a good feeling.

Remember, it’s important to assess risks carefully and consider potential outcomes. Taking calculated risks, rather than reckless ones, is key to reaping the benefits while minimizing potential downsides.

What risks are you contemplating?

Published by Haynes on Communication

Quietly practicing something that brings me enjoyment.

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