Most of us want to have better experiences than we might have had in the past or be currently experiencing today. This can often involve needing to step into situations we haven’t navigated before. It can involve uncertainty and hold opportunities for us to have unpleasant and/or pleasant experiences. Our brains are primarily designed to keep us safe and balanced, physically mentally and emotionally. However, most of us know deep inside that repeating the same patterns and expecting a different result is nonsensical. There comes a tipping point when it’s time to take a chance. Taking more chances involves taking risks. This can be scary! Traditionally, taking risks is only for the bold and courageous. We associate there being a higher chance of having negative experiences; pain, disappointment, failing, getting injured. Because our brain is wired for safety and survival, these perceptions often hijack our decision-making so are drawn back to maintain the status quo. Despite our instinctive human behavior and thinking, there are ways we can prevent this hijack so we can take more chances in life. Whether or not you are a leader of a team or wanting to make progress in one or more areas of your personal life, these 5 proven risk-taking tips will maximize your capacity to move forward further and faster.
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1. Routinely Review Your Circle of Control to Help You Plan What Risks to Take
In his best-selling book, The 7 Habits of Highly Effective People, Stephen R. Covey explained how our point of greatest effectiveness will be when we are operating from our sphere of direct control. When we dedicate our energy and attention to trying to change things that aren’t in that sphere, we experience discomfort and pain we may not be equipped to manage. We can also become vulnerable to a far longer recovery process as a result. The inner-most circle is the circle of control. It represents what you have direct and ultimate jurisdiction over:- Your thoughts
- Your choices
- Your decisions
- Your behavior and actions
- Your mood
- Your mental state
- Your responses and reactions
- Your mental, emotional and physical states
- Your relationships, your children’s happiness, safety and wellbeing
- How others respond to you, how they perceive you
- Your work productivity, whether you get promoted or not
- Who follows you on social media
- Who you vote for
- Your development of skills, improvement of competency
- The success of your business
- Systems and institutions (e.g. your employer, governments)
- Environmental issues
- The economy
- Natural events and disasters
2. Adopt a Gamified Perspective to Increase Risk-Taking and Make It More Fun
The mental and emotional pressure we put on ourselves to achieve certain outcomes inflates our perception of risk consequences. We can often feel the stakes are higher. However, what if you applied a different set of expectant outcomes when you are in risk-taking situations? Gamification has become a more widely used approach in a variety of settings where growth and improvement in performance are desired or required. The application of game dynamics, mechanics and frameworks into non-game settings has demonstrated effectiveness in encouraging risk-taking behavior along with changed perceptions toward the meaning and experience of risk-taking itself. When researcher Itamar Shatz reviewed the risk-taking behavior of participants learning a foreign language, he found gamification methods increased their risk-taking behavior as well as their performance and self-confidence.((Shatz: Using Gamification and Gaming in Order to Promote Risk Taking in the Language Learning Process)) Similar research was undertaken by Ignacio Garcia exploring the effectiveness of popular language-learning application Duolingo identified that using gamification approaches enhanced users’ learning.((Ignacio Garcia: Learning a Language for Free While Translating the Web. Does Duolingo Work?)) Learners are driven to advance to higher levels by being awarded points for providing correct answers and being given a couple of opportunities to attempt each question. They feel freer to fail. When considering risks you might take, ask yourself: Is there a way I can gamify this? If I am feeling high pressure and angst about this risk, how can I inject more fun into the process of taking the risk? Could you engage others to also engage in this risk-taking activity with you? Can you create your own reward system of celebrating your taking chances in the first place? Reward yourself and celebrate your experiences of taking risks regardless of whether you achieve your main goal. You develop a different emotional attachment to risk-taking exercises and increase your confidence to take more chances in your life.3. Take Risks Where You Have the Resources to Manage the Consequences
You wouldn’t jump out of a plane without wearing a parachute, nor would you skydive without knowing and following safety protocols. You equip yourself as best as you can for the situation that you are unfamiliar with. Then there is always risk remaining where events can unfold in ways you (and even experts) are unable to predict or foresee. We are going to be more likely to take risks where we perceive fewer negative consequences are possible and/or we have greater confidence to manage these consequences. How can we then minimize the negative consequences? Assess the level of risk and close the gap between the resources required and the resources you have. Do a simple needs analysis based on what you identify taking the risk requires and what you have available to you, to meet those needs. Where you identify a gap between your resources and what is required, look to see what is within your control to help you close the gap. Physical- Do you have enough knowledge to tip you in favor of success in taking the risk?
- What equipment do you need to maximize your chances of success?
- What skills and technical competencies do you need?
- What else do you need to learn or acquire to tip your probability of succeeding to 51% or higher?
- As you think about the risk, how are you likely to react/respond if negative consequences result?
- What support options and strategies do you have in place to help you take the risk as well as catch you should you be unsuccessful?
- How are you currently perceiving the risk?
- What mental state are you in as you think about taking it? Do you need to first manage negative emotions or need to diffuse heightened anxiety?
- What mental strategies and exercises do you have in place to help you prepare for taking the risk, experiencing the process of taking it? Do you feel this enough or could you strengthen your approach?
- Can you anticipate how you will be mentally affected should you fail? What mental strategies do you have in place should you be unsuccessful?
4. Regulate Your Emotions Beforehand to Help You Assess What Risks to Take and Prepare to Take Them
In the absence of enough metrics or a frame of reference against which to measure if a chance poses more risk or not, we unconsciously rely on our emotions. In fact, our emotions dictate our self-belief and self-efficacy in situations we perceive to be risky, far more than we may realize. A recent study conducted at the University of Social Sciences and Humanities in Poland revealed two incredible results:((University of Social Sciences and Humanities in Poland: The Affective Bases of Risk Perception: Negative Feelings and Stress Mediate the Relationship between Mental Imagery and Risk Perception))- a) That our emotional state impacts our perception of risk;
- b) That when we focus on the negative consequences of taking a risk, we perceive the risk to be greater
5. Always Celebrate All Aspects of Risk-Taking
Taking a risk is also setting a goal. If rewards exist only on the condition of that goal being achieved, this leaves many steps and opportunities for us to balk and opt-out when we feel the risk is too great. We need to insert strong enough reasons for us to stay the course. Because we know emotions have a strong influence over our decisions, we can cleverly inject positive emotional experiences toward all stages of taking any risk:- a) Assessing the size and type of risk
- b) Planning and preparing
- c) Undertaking the risk
- d) Experiencing the consequences
More Tips on Taking Risks in Life
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