Business Strategy with Hirav Shah: The biggest risk of all is not taking a risk


From starting Virgin Mobile to disrupting the airline industry with Virgin Atlantic and Virgin America, Richard Branson has confronted everything (File photo)

Risk hai to Glory hai

The biggest enemy of success is the comfort zone and ninety percent people or even more want to stay in their comfort zones only. In a world that’s constantly changing, success is not and never guaranteed if you wish to stay in your comfort zones. Take risks but calculated risks.

Take risks. Take chances.

Risk Taker Can Also Become the Success Getter

Risk Taker Can Also Become the Achiever

Risk Taker Can Also Become the Trailblazer

Risk Taker Can Also Become the Groundbreaker

In order to achieve success and glory and grow as a person, you must be willing to take risks. By pushing yourself, you will get to learn new things, gain new skills, and develop newer perspectives. It will be uncomfortable and scary, but it is required.

What is a Risk?

Risk involves uncertainty about the implications/effects of an activity with respect to something that humans value (such as business, health, well-being, wealth, property or the environment), often focusing on undesirable, negative consequences.

What is a Business Risk?

Business Risk is the exposure an organization or a company has to factor(s) that will lower its profits or lead it to possibly fail. Anything that threatens a company’s ability to attain its financial goals is considered a business risk.

Factors are many that can converge for creating business risk. Sometimes it is the company’s management or top leadership that creates circumstances, where a business may be exposed to a greater degree of risk.

Who Is a Risk Taker?

A Risk-taker is someone who tries new things, the outcomes of which are largely unknown. A risk taker has the ability to make decisions quickly and easily, understanding the value of innovation and creativity, being courageous or unafraid, tolerating loss, having heightened expectations, and being comfortable in the face of uncertainty. Folks in risk-taking positions often include people in leadership roles, CEOs or founders of an organization or business, and people in managerial positions who take calls.

Risk-takers are a significant part of business because, for a business to prosper, there needs to be an influx of new ideas and opportunities for investments. By taking risks, businessmen and entrepreneurs can try different strategies, assess the success of those, and learn about market trends to be more successful when the next idea is tried.

What is Calculated Risk?

By effective planning, you can prepare yourselves to navigate the hazards that you encounter and choose which risk is the most logical and practical and intelligent one to take.

In other words, you need to be smart and calculative about the risks you take.

Setup dividing lines or boundaries within which you will operate and identify when those boundaries are drawing near.

Set a time limit or money limit on the risk you are contemplating, to ensure that you are remaining in charge of your own ship.

Above all, you will have to admit that it’s not all going to be clear sailing, and that’s absolutely okay. You learn more from distress than from success.

If you really ponder, the road well-traveled is rarely without its hiccups, but you accept these more readily because you haven’t “done something silly” like taking a significant risk to reach this juncture. These gaps are more easily justified.

However, everything you do requires courage. Whether it is to experiment something fresh or new or steady the ship. Sometimes, you just have to keep both your eyes closed. And take that leap of faith.

Richard Branson is one of the best-known calculated entrepreneurial risk-takers in the business world. Starting Virgin Mobile, to disrupting the airline industry with Virgin Atlantic and Virgin America, the popular founder of Virgin has confronted everything. Ever since he was a young kid, he has been hustling up plenty of ideas that involved loving and learning from his calculated risks.

Final Thoughts

Make sure you are educated on the risks. There should be more “dos” than “don’ts” on your list when properly taking a risk. To make this easier, make a list, writing down the pros and cons, you are considering to see which one outweighs the other.

You never truly know the risk’s outcome, but if you look into it deeply, you might be able to limit the room for failure. Sure, there are things that will be out of your control, but if you stagnate yourself based on a fear of what might happen, you will never give yourself the chance to find out what could.

“You have to be comfortable being uncomfortable, you have to be willing to risk being different. Because Risk hai to Glory hai.”

The writer is a well-known Astro Strategist and Business Astrologer

Email: [email protected]

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