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Four Ways to Improve Risk-Taking in Business

Every decision you make, every action you take, carries risk. It’s equally true that everything you decide and do has a possible reward too.

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We all know taking risks is necessary in business. In reality, every decision you make, every action you take, carries some risk of a negative outcome, whether you think about it or not. It’s equally true that everything you decide and do has a possible reward too. Like the old saying, “Nothing ventured, nothing gained.”

Amare (love-based) leaders see the potential of risk and reward a little differently. First, they approach risk-taking as a path to growth, with an abiding trust in the universe, a belief in abundance, and unattachment to the outcome. Second, in addition to rational considerations, they tune in to their own inner wisdom for guidance. And third, they know all they can do, is to do their best. 

In business, some of us seek out risk, others avoid it. Research shows most of us have a built-in bias to stay with the status quo because it seems safer. The status quo may not be great, but at least we know what it is. So when we do see significant or unfamiliar risk, it may lead us to risk avoidance, which is one of the main barriers to successful innovation and growth.

Take a moment to consider how you currently approach risk-taking. Answer the following questions and then take stock of your answers. Are you happy with your current approach to risk-taking? Or is there room for improvement?

  • What is your default response when risk comes up?
  • Under what business circumstances do you usually take risks?
  • Under what business circumstances do you usually avoid risks?
  • What has happened when you have taken risks in business?
  • Do you trust that the universe provides?

We cannot go through life or business without taking risk. But we can change our approach. For ideas on how to assess and take risks with the loving energy of Amare, keep reading. 

Four Ways to Take Risks with Amare Energy

1. Top of mind tally. Ask yourself and your colleagues: “What first comes to mind when you hear “risk?” Then discuss with your leadership team how your organization feels about risk-taking. Do you fear risk? Do you welcome it?

2. Words/Actions/Results. Assess how many times in the past year your organization committed to take the risk, when you actually did, and what happened. Then step back and evaluate your approach. If there were gaps between your commitment and your taking action, that needs remedying. Notice your success rate too, and how you learned (or not) from failures.

3. Train for uncertainty. On big decisions especially, acknowledge that you cannot promise what the outcome will be, and help your people deal with fears, accept the uncertainty, and even be uplifted by the process. As a leader, modelling this behavior can be very empowering to your team.

4. Build a resilient culture. Taking risk means you’ll fail sometimes. Set expectations that failure is okay as long it’s followed by analysis and a specific plan to do better next time. And make sure your people know it’s safe for them to fail too (it is, right?)

Now I’d like to hear from you. Where are you at when it comes to risk-taking in business? Let me know with a comment below.

For more ideas about approaching business from an Amare perspective, check out my book, The Amare Wave: Uplifting Business by Putting Love to Work.

Today’s Amare Wave Wednesday Quote

“Go out on a limb. That’s where the fruit is.”

―Jimmy Carter 

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Modified from original publication on MosheEngelberg.com

Note: Do you like this article? Every Wednesday, I encourage people with articles like this, to do ONE thing to put the power of love to work in their organization, through my newsletter Amare Wave Wednesday. These consistent actions are collectively growing the wave and making people happier and businesses better. To receive your Amare Wave Wednesday newsletter every Wednesday, click here to subscribe. Get something you love in your inbox again!

To learn more about the Amare Way movement, the book The Amare Wave, or my Amare executive coaching services, visit www.MosheEngelberg.com.

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