Hello everyone! The topic I want to tackle at the eve of a brand new year is "taking calculated risks." The progress of civilization has always been powered by risk takers. Risk taking is an essential leadership quality in today’s business environment. Taking a risk is the only act that will change the course of your life. If you are content with your state of being, then there is no reason for you to do things differently. However, if you are unhappy with where you are in life or in your career, then it may be time to shake things up a bit. I want to be clear that I am focused on taking “calculated risks” that will help you and not reckless abandonment that will land you on a viral video montage of stupidity.
I was raised with the Eastern belief of prioritizing "saving
face" above all. Taking risk was
not something encouraged in my household when I was growing up. Because if you fail, then you may bring shame
upon your family and yourself. As a
matter of fact, Asians, have mastered the art of setting oneself up for success
with minimal risks. If you hire a tutor, then you will get better grades.
If you go to the best schools, then you will get better jobs. If you don’t play sports, then you won’t get
hurt. I remember when I went skiing for
the first time and returned home with a cut on my face that went from right
below my eye to my upper lip. I took a risk and did something no one else
in my family has ever attempted. As a result, I literally hurt my face.
My mom was so concerned about a villainess scar on my face for the rest
of my life. Luckily, I was left with
just a little one near my nose that is barely visible. As you can
imagine, that example was used quite often by my parents as a reason I should
not take risks.
Fortunately, I grew up to be the paradox of someone who is
conservative by my upbringing yet daring because I am a middle child demanding
to be noticed. There are plenty of things that I have never done and will
likely never do, for example eating live Madagascar hissing cockroaches as they
do on the "Fear Factor." However,
my friends would never think of me as conservative. They watched me jump
off the ledge and descended 108 stories with only a cable attached to a crane on
top of Las Vegas's Stratosphere Hotel. They have seen me run off a cliff
to do tandem hang gliding in Rio de Janeiro.
They have also seen me in the middle of an empty dance floor dancing without
a care in the world of who was watching me.
I have also taken many calculated risks in my career. I knew that if I was not content with what I
was doing, I needed to take a risk and redefine myself so that I can open new
doors and head in new directions. I moved from the comforts of working
for a large corporation to the uncertainty of a small start-up business.
I left a decade plus career with one firm where I had a well-established internal
network to a bigger company where I had to reestablish myself all over
again. Each of these risks I took
resulted in greater responsibilities and greater exposure. There have
been days when I question whether or not I was good enough or ready for the
bigger challenges. I have tested these fears
with others. Surprisingly, many of my colleagues
go through similar routines of self-doubt. However, they are successful leaders
because they can acknowledge their fears,
take calculated risks, and rely on their experiences to conquer new
challenges.
Each time I took recreational risks, I had to trust that the
people who created these experiences have done what they can to ensure my
safety and that I have the physical capability to perform my part. Each
time I made a career move, I had to trust the people who gave me the
opportunities made the right judgment call and that the skills and wisdom that
I have acquired over the years will set me up for success.
So if you are looking to change your status, then here are
my recommendations for preparing to take some calculated risks:
- Know your tolerance – there is no reward in taking risks if it causes you to drown in a maelstrom of anxiety attacks. I use to provide financial advice. One of the key things we have to establish up front is the investor's risk tolerance. There is no sense in putting a person into the stock market if they are going to spend every hour checking their stocks and freaking out over every price drop.
- Know your abilities – evaluate your competence in achieving success. Do not go far beyond your abilities. Do not attempt the double black diamond slope on your first time skiing. Often, I receive inquiries from recruiters about jobs where 75% of the job is perfect for me, but I have no experience on the other 25%. I would have a very frank conversation with the recruiter and respectfully decline the interview if we decide that experience for the 25% was critical to the success of the role.
- Know the odds – Investigate the probability of success and who you are trusting to help you be successful. I once talked to a recruiter about a job where the role was an individual contributor but the scope of responsibilities could only be accomplished by a team of people. I did not move forward with the interview because I saw insufficient support and a low probability of success.
- Know your history – use all the risks you have taken in the past to build confidence in taking the next risk. I am fortunate enough to have some key pivot points in my life that I can rely on as reflection of positive results from risk taking. I often think of my parents selflessly risked everything they had to immigrate to the United States of America so their children would have a better life. I am here sharing my professional experiences with you today because they took that huge risk.
- Know the reward – the potential reward for taking the risk should be large enough for it to be worthwhile. Early in my career, I saw a lot of people make lateral moves to other companies for higher salaries. I discovered that they were actually leaving for a couple of thousand dollars more. Essentially, they gave up their tenure for promotions and internal networks for a few dollars more per paycheck.
In hindsight, taking risks have been rewarding for me both
personally and in my career. I can
attribute all of the good things in my life to daring to take a risk, not
giving up because I failed in the past, and not being complacent with my status
quo. There is a euphoric rush in thrill
seeking but the more rewarding part for me is the sense of accomplishment for ascending
to new personal heights.
That's it for now. In the spirit of New Year resolutions,
I hope you include some risk taking for the coming year. Thank you for reading my Random Rambling
posts. I am grateful for all those who shared my posts and commented with
personal stories. I hope 2016 will be a very successful year for all of
us and that our world will find peace, unity, and common passion for the
greater good.
Stay cheesy
The Rambunctious Rat
