5 Steps For Taking Calculated Risks To Succeed

“Take calculated risks. That is quite different from being rash.” – General George S. Patton

A few years ago, I was asked to teach a workshop called, "Dreams Never Die - How to keep your dreams alive after 50". It is true that dreams never die, but they can wind up fading into the woodwork of our lives if they aren't cultivated and nurtured into reality. What I realized is that while all of us have dreams most people aren't sure how to actualize those dreams. We tend to keep them in a 'Someday file' and someday never comes, because the fear of taking a risk and making a mistake is too scary and overwhelming to us. Hence, the reason a lot of folks die with regrets.

The same theory applies to building a successful business. While most are content to maintain a status quo and a stable bottom line, those who dare to take calculated risks and step outside their comfort zone to create new possibilities are those who often achieve the greatest success. A truly passionate leader, who invokes feelings of anticipation and inspiration within their team, can turn dreams into reality.

The web definition of ‘calculated risk’ is “A risk that has been given thoughtful consideration and for which the potential costs and potential benefits have been weighted and considered.” I’m not suggesting that you spend months, (or even years), trying to determine the pro’s and con’s of changes you’d like to implement in your business. What I am suggesting is that you make the decision to take a risk – to think of alternative possibilities – and start putting new, fresh ideas to work in your company and team.

You will never know what you are capable of until you let go and take action. Think about it. How far are you willing to go to have the business you want and deserve? When was the last time that you presented a fresh idea or perspective on how to achieve a specific goal to your team? Or better yet, when was the last time you were open to receiving a new idea from your team members?

Here are some questions to ask yourself to begin turning your dreams into visions, visions into goals, goals into action, and action into fulfillment. These steps will help you clarify your thoughts and turn them into reality:

1. Is my goal/dream in keeping with my company’s values? If your new vision doesn’t quite feel right or goes against your mission/values statement, then drop it.

2. What are the action steps I need to take to achieve this dream? How will you fund this new idea? Does it fall into place with your long term gains for your company?

3. What support will I need to stay focused and committed to my dream? How can you get your team to buy into your dream? You’re going to need their input as well as their own ideas of how to take your thoughts and turn them into reality.

4. By what date will I achieve this dream? Be very realistic when choosing the timeline of when you’d like to be see your goals put into action. If you try and rush genius, you could end up looking like a fool.

5. How will I feel when I achieve this dream? Visualize how you will feel once your dream has become grounded in reality. Are you seeing an increase in your bottom line? Are your customers raving about your new offering? Are your team members happy and committed? Picture how satisfied you’ll feel once everything has fallen into place and your sales are soaring.

Go ahead, dare to dream big. You will never know how far you can go until you do!