THE BLOG

Why Taking Risks Comes With Great Rewards

11/11/2013 09:48 am ET | Updated Jan 23, 2014
  • Stacia Pierce Life coach, career expert and CEO, Ultimate Lifestyle Enterprises

If you ever want to achieve the life you've always dreamed of, you'll have to start taking positive, calculated risks. It is absolutely necessary to take chances to achieve anything great in life, however many are scared to take the initial leap.

As with any risk, there is always something at stake. In most instances, when it comes to your business, you stand to lose money, time and your reputation. Which are also the very same things you stand to gain! The benefits of taking risks will enrich your life and make your business or career much more rewarding.

One of my clients worked for the government for 15 years before deciding to start his own business. I helped him pinpoint his true passions and create a plan to profit from them. After moving to a new state, instead of searching for another civil servant position, he took his skills and experience of being an urban planner and translated them into a viable business for himself. Nervous about launching out on his own, he expressed this was the biggest risk he had ever taken and worried about where the income and clients would come from. However, after being in business for one year, he has already landed multiple contracts and generated a six-figure income. After taking the risk of quitting his job and launching his own firm, he's much happier and experiencing life on a new level.

THE BENEFITS OF TAKING RISKS.

  1. Taking risks opens you up to new challenges and opportunities. Push yourself to learn a new skill, such as public speaking, which comes in handy as a business owner.
  2. Taking risks empowers you to establish new limits in your mind. We all have boundaries or a comfort zone where we'd like to stay and many have misconstrued visions of what we think we deserve or are capable of accomplishing. When you take risks, you can eradicate that thinking, establish new boundaries, improve your outlook on life and your ability to achieve on high levels.
  3. Taking risks can cause you to become more creative. When you put yourself out on a limb, with a no-excuse approach, your natural problem-solving skills kick in and you're open to new ideas and are willing to try something new.
  4. Taking risks can result in a positive outcome. Not every life step can be carefully planned out. You'll never know if you can succeed unless you venture out into new territory. Is there a risk involved to do something totally new? Sure. But the reward is there too. When you give it your best shot and put all that you can into achieving the goal, you are more likely to make it happen.
  5. Taking risks help you to clearly define what you really want. Calculated risks are taken with careful thought. Yet the fact that you are taking a risk pushes you to make things work. Surely you will first have to determine if the reward is something you really want enough to take the chance. If it is, then move ahead and don't look back.
  6. Once you have become accustomed to taking risks, you break free from the average way of living and thinking. Instead of fighting to stay safe you gain the momentum and confidence needed to welcome new opportunities in your career or business. Risks build your self-confidence and self-respect, empowering you to feel stronger and more confident in taking on new endeavors. When you are open to new challenges you position yourself to profit a whole lot more than you would just staying the same.

Taking chances requires some blind trust in most cases. Nothing is really guaranteed. However, you have to trust your instincts. Sometimes your gut is leading you down an unknown path but inside you know that something big is on the other side. Go for it, you'll never know what all you can accomplish until you do something you've never done. Take the risk you'll step into some of your biggest rewards.