To be successful, small business owners need to understand the role that risk plays in their business and life. But many have a misconception about how many risks are needed or how many risks they are actually taking. I’ve always said that if homeowners really knew how to take the risk of starting a business, they would never do it!
On The Small Business Radio Show, I spoke with Captain Angie Morgan, who is a leader in dynamic and creative thinking who knows how to unlock the ability and talent of leaders at all levels. After serving as a Marine Corps captain, Angie led Merck and Pfizer’s pharmaceutical sales. She has been a special advisor to the President of the Joint Chiefs of Staff on Diversity Initiatives and regularly liaises with boards and organizations to drive performance. She is the co-author (with Courtney Lynch) of “Bet on you: how to win at risk ”.
First, Angie believes that the first thing is to think about what you want to do (not what others want to do) and what risk you want to take. He adds that “the risk of doing well is to research and take measured steps to where you are and where you want to be.”
According to Angie, many of us are caught in a “paradox of playing safe”; “We get a lot of guidance on what to do and they train us to play it safe from a very young age.”
Angie teaches that “taking risks is a learned behavior. One of our biggest influences is our maternal figures in our early years. Fear is a big blocker in taking risks. We need to understand that risk is a decision you make.” “If you understand it that way, you realize you’re taking risks all the time. We need to take thoughtful action. The risk is like a muscle; it develops over time.”
Angie says there are three types of guides in our lives to help us take risks. First of all, the people we can connect with and who take the risk you want to take. Second, talk to people who have influence to inspire you to take risks. Third, realize that there are people in your life (such as family) who have no choice but to take your own risk. According to Angie, this often has to do with your own insecurities, not the risk you want to take.
Finally, Angie believes that the best safety net for risk is her own talent. He says too many people “catastrophize risk; they are homeless before they can see their success in many cases. “
Listen to Captain Morgain’s full interview on The Small Business Radio Show.