13 November 2019

As with most success stories, the only way to move forward is to give things a go

When collaborating with a Coach like me, you learn a lot of business tactics. But aside from learning about strategy, Coaching is also about conditioning your state of mind as a business owner. Because whether you like it or not, what’s going on inside your brain affects every single person involved in your business.

And as far as mindset goes, the first thing we need to develop is participation. Participation is about giving things a go —taking risks even when there’s no absolute guarantee of success.

Risk-taking is synonymous with running a business

No matter how much you evaluate each step, there’s really no way of knowing how things will work out. There will always be times when you have to take a leap of faith and make a risky move. If you aren’t prepared to take risks, you have no business being an entrepreneur. Entrepreneurship is fundamentally linked to risk-taking. You’ll probably need to invest some of your personal capital into a growing business. You’ll bank your reputation on an unproven idea.

And from there, every decision you make carries some small risk — your new hire might leave in a month, your lead generation strategy might fail, your new approach might anger one of your best clients, and so on. Accepting risk as a part of the game, and you need to be ready for that as you enter the business world.

However, risks don’t have to be careless in nature

There are certain ways to make sure that a risk is still somehow calculated to increase the chances of a positive outcome. Calculated risks involve a series of knowns that allow you to rationally predict the odds of success. Most business risks fall into this category, because so many factors, like consumer behavior and economic shifts, are difficult to quantify or predict.

Then there are complete unknown risks, which arrive when you bring something truly unique to the market. Knowing the differences between these risks can help you better understand how “risky” your decisions at certain points actually are.

Yes, sometimes, your risks won’t pay off

If you’re an optimistic risk-taker, you will always see things as half-full. There’s this cultural idea that risk taking is generally a rewarding strategy. However, don’t be fooled into believing that all risks are good risks or that always taking the risky choice will pay off.

Some risks— even carefully calculated ones — will fail. Instead of disregarding this truth to overcome your hesitation toward risk, embrace it. Let yourself accept the likelihood of failure, and when you do fail, don’t take it personally. Instead, learn from the experience and move on.

So remember, nothing is ever going to happen if we don’t take the plunge, if we don’t take certain risks. And that’s true not only in business but in life. As a Coach, I aim to condition your mindset so that as a business owner you can open yourself to opportunities and possibilities. It all starts with 100% participation, and everything else follows.

REACH the full potential of your company by working with a Business Coach like myself. My extensive clientele consists of companies based in all of the Midlands including Leicestershire, Derbyshire, Nottinghamshire and Staffordshire. Discover how REACH Business Coaching can help you grow your business by attending our free workshops and seminars.

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