What makes a good risk taker

This goes hand in hand with enhanced cooperation and teamwork. The final factor is accountability. Good risk-takers take personal accountability for outcomes — feeling the glow when it goes well and the pain of failures is critical — and the knack is working with these emotions, learning and improving from both.

Line managers must strive to ensure that their team develops a risk appetite in line with that of the organisation, but this is challenging see the Princess Leia point earlier.

If the organisation restricts or overstretches employees, they will become frustrated or stressed. Line managers are also key to assessing where someone feels reluctant to take risks and explore the personal, cultural and organisational issues that inhibit them.

For many years, companies have been hardwiring their organisations to take on more risk by recruiting and developing people with a high achievement motivation. The desire to achieve clearly has beneficial results for businesses. But companies need a range of effective systems to manage that behaviour and prevent it getting out of control. Successful risk management also relies upon managers being able to extend their influence beyond the confines of the risk function itself.

Persuading other business areas to take shared ownership, responsibility and a consistent approach to risk management is a hallmark of success. Fear just needs to be understood. It gets in your head just how little there really is holding you back. Also understand, sometimes fear can take another form in excuses.

This appears when someone has an idea to do something, but something, one thing, is holding them back. Admittedly some circumstances physical abilities and demographics for instance can prevent you from doing what you want. However, in many cases the excuse is just a form of fear holding you back. Recognizing this will help you overcome this hurdle.

Risks vs. Gambling I want to clear something up about risks though. One example would be to put all your money into a single insecure investment. That is gambling and is not advised. The key difference between a risk and a gamble is the consequences. All life is a chance. The man who goes the furthest is generally the one who is willing to do and dare.

Even running a marathon makes people raise their eyebrows. People really just get comfortable in their own space doing the same thing every day. Jessica, I agree. I can tell you push yourself though. Thanks for the comment Steve. Oh yeah, Oktoberfest is something I want to do. Not buying a house by age Not getting married soon enough. Getting married too young. Going back to college at a later age or not going at all.

I agree with you. There does seem to be pressure to do what is expected or normal. Anyone who takes their own path is seen as taking a gamble. I love to do different things too. Thanks for the comment. The best thing you can do is change your life to get it where you want it to be. Figure out where you want to go in life and keep going towards that goal.

I left a ten year career to travel. The blog is spot on, not just for being successful, but for living a meaningful life. Risk does not just mean doing things that will benefit you. Looking back at our parents and previous generations, risks did not just result in new business. Sometimes it resulted in nothing more than stronger families, better children, and friends. Taking a vacation you cannot afford so your children can experience something new, engaging in activities with your children, and leaving work early for family night are all risky behaviors.

The risks are economical, personal, and career. In my opinion personal risks can lead to growth and success both personally and professionally. I leave this response after becoming a Boy Scout leader with no Scouting or outdoor experience, spending more money than we could afford to take the dream vacation going on a photo camping safari in Africa, and asking the hard questions at work.

Hey John, there are a lot of different types of risks. Economic, personal and career ones. But how often does growth happen until you take a chance or two?

I remember a time when I was extremely shy. Just talking to someone new was scary, but I took that social risk and started meeting people. As a result, my life got better. And it all started with taking a risk. Someone who sees our strengths and potential is rare and precious.

People go further when they are lifted up rather than beaten down. Dear Dan, Acceptance of failure is great sign of success. Denial is great sign of failure. The person who adopt to a situation without making effort to succeed is sign of complacency. And I always believe that complacency kills in future.

I strongly agree that what we risk propels us forward. Risk taking is the indicator decision making and decision making is leadership traits. Anyone who takes decision is a leader. Now the kind of risk involved in decision making decides whether you take risk with some direction or taking risk without calculation. Blind risk-takers without calculation and clarity fool themselves. Risk-takers can ask the opportunity involved in long run in taking risk now. They should ready to forgo short term opportunity to get long term opportunity.

When risk-taking enhances your reputation and keeps you aways from mass, then risk-taking is worth taking. I strongly believe that when leaders take risk they look for impact they intend to create on people and society. Risk-taking for monetary benefit may yield profit in short term but risk-taking for non-monetary benefit create both prestige, reputation, trust, relationship and mutual respect.

I love the people focus. He is no longer with us, but I think his contributions and thinking were interesting. He gave me permission to put his survey up on my old website, so if you are interested, you can find it here:. People who DO take risks make about two big mistakes a year.

I think the questions, what could you gain and what could you lose, are key questions. I think that natural risk takers tend to focus on the possible gain, the making something better aspect.

I think for those who are not natural risk takers, the what could you lose question looms very large. I think sometimes those who fear that loss give it more weight than what they would gain. At the core, losses and gains are at the heart of risk taking. Do potential gains outweigh potential losses.

The answer is the first step to taking risk. Take the risk or not? Great list Don! Way 5 resonates with me the most — Adopt experimental mode.

I love experimenting and seeing what I can learn. Without experimentation there can be no growth. Still do your best. One of my favorite reads was an HBR article that talked about how the most successful people and companies viewed challenges. Tim, good comments. That shift seems to create a more open look and an indication that we will find a solution. On the list of personal values. Risk—when to jump, not blindly, but still to know when to jump is key.

That is wisdom. And as important as the wisdom, have you integrated enough parallel or build-up skills? Have you practiced and found skill gaps that you have addressed? Then know its time to move to the edge and take that leap of faith.

How exhilerating are those moments…when you know you are so alive. Your comment reminds me that self-development is central to success.. I like that!