Risk and Reward – Finding the Balance for Change and Growth

ByPenny Strutton

In the 13 years that I have been developing the Think Forward method, it’s become pretty darn clear that taking risks is essential for personal and professional growth. 

Now, that doesn’t mean you have to be reckless – as with everything in life, it is all about balance. So if you are interested in exploring this area with me, here are some key insights on the importance and benefits of embracing risks:

Growth and Innovation

I wrote about the dreaded Comfort Zone last time out so we know that taking risks drives growth and innovation. When you take a little step outside of that cosy bubble, you challenge yourself to think differently, find creative solutions, and push boundaries. Without risk, there is no progress.

Building Confidence

Every risk taken, whether successful or not, builds confidence. I’ve found that facing challenges head-on and learning from both successes and failures instils a sense of resilience and self-assurance in our clients.

Learning Opportunities

Risk-taking is inherently linked with learning. Each new challenge provides valuable lessons, helping to develop new skills and insights. Try to view risks as opportunities for growth and education, rather than as threats.

Overcoming Fear

Fear of failure often holds people back from taking risks. There’s no harm in acknowledging this fear but try not to let it dictate your actions. By gradually taking calculated risks, you can diminish your fears and become a little more comfortable with uncertainty.

Reward Potential

High risks often come with high rewards. Whether it’s a career move, a business decision, or a personal challenge, the potential benefits can be substantial. The key is evaluating risks and recognising the opportunities they present.

Strategic Risk-Taking

I would always encourage that you take a more strategic approach to risk-taking when possible:

  • Evaluate the Risk: Assess the potential benefits and drawbacks. Understanding what’s at stake can help in making informed decisions.
  • Plan and Prepare: Develop a clear plan and prepare for different outcomes. This preparation can mitigate potential downsides.
  • Start Small: Begin with smaller risks to build confidence and experience before tackling larger challenges.
  • Reflect and Learn: After taking a risk, reflect on the outcome and learn from the experience, regardless of the result.

My experience with creating Think Forward has shown time and time again that taking risks is a fundamental part of achieving success. By embracing risks, individuals can unlock new opportunities, drive innovation, and reach their full potential.