The Risk-Taking Business Owner
We’ve all heard the old saying “nothing ventured, nothing gained”. Like most old sayings, there’s a strong element of truth in those words. Are you a risk-taking business owner? Maybe you are and you don’t even know that you are one. Simple to find out though, take a look at this definition.
Definition of risk-taking: the act or fact of doing something that involves danger or risk in order to achieve a goal Starting a business always involves some risk-taking.
At the risk of following one old saying with another, without risk, there is not, and cannot be any reward. There is an element of chance inherent in every venture and unless that chance is recognized and faced, the venture will never become reality.
A Natural Risk-Taker
There are people who are natural risk-takers, as well as people who are very risk-averse. Do you find that to be true? The key to success when it comes to risk-taking is understanding what type of person you are. Take this quiz here ⇒ Quiz and see how you fare.
How does this personality trait affect your business when it comes to dealing with risk? It is important to keep in mind that the secret of success when it comes to business risk is mitigating potential damage in favor of potential gain.
Is it a Risk or a Danger?
Therefore, neither type of risk personality, in and of itself, provides an advantage over the other when it comes to risk management. A risk-taker can just as easily overreach themselves as a risk-averse person can underreach themselves. Interesting yes?
When faced with a situation that offers reward and risk, the key is to coolly and impartially assess the potential positive and negative outcomes. And then decide accordingly. No danger there right?
Being a Successful Business Owner
Successful business owners are sometimes seen as risk-takers simply because they understand the danger in a situation better than anyone else involved. So, while it appears that they are courting disaster, the reality is that the risks involved have been managed. This allows them to control negative consequences.
The successful business owner who takes a risk is very much like a professional tightrope walker. To the observer, it looks death-defying and, perhaps, frightening. To the performer, it is simply another day at the office. Their skill, training, and preparation sufficiently offset the inherent risk to make the feat only appear to be remarkably dangerous. What do you think?
In your own business, don’t be afraid of risk but, at the same time, don’t take the risk lightly. Weigh your options carefully and, when you arrive at a prudent decision, move forward with confidence.
And speaking of confidence, I have a great course on confidence.
You can access it right here ⇒ The Lady Boss Confidence Course
Using Competition To Your Advantage
Do you ever wonder why using competition to your advantage is really a thing in the business world? It is, but why? Why do we need to compete with others? The answers to these questions are below, as we discuss using competition in today’s blog post.
The world is built, to some extent, on the concept of competition. Everything living competes for specific resources that are needed to grow, thrive, and outperform ecological rivals. Sunlight, space, water, and nutrients are utilized to the fullest extent by the smallest to largest creatures.
This happens wherever they are found and in whatever quantities. Using competition to your advantage will help you create a successful business also. Huh? I don’t get it!
See, as human beings, we are hardwired to engage in this competitive contest too. It’s a part of our genetic heritage and one every business owner needs to embrace. So, I ask you again, are you using competition to your advantage? Let’s find out below.
Some people perceive competition as a somewhat undesirable trait. This is because these people look at competition as a black and white issue. It is seen as either a win at all cost, take no prisoners proposition, or as a watered-down and barely discernable version of itself. This is where consensus and agreement are the order of the day.
This imposed polarity masks the true nature and power of competition. In reality, competitiveness is neither a black nor white extreme. Instead, genuine competition is a valid force for positive change. And, I believe that is what we all want.
The successful business person knows that healthy and honest competition is the motive force behind innovation. The business world, like the natural world, is driven forward by this continuing innovation that occurs in response to changes in the existing environment. In the natural world, these changes are largely climactic. The life form that best adapts to these changes survives and thrives.
In the business world, these changes are socio-economic. The business that best predicts market trends and meets demand most efficiently also survives and thrives.
As a business owner, you need to remember that competition is the lifeblood of the marketplace. It not only drives innovation but also inspires creativity and helps build new paradigms. Don’t shy away from your naturally competitive nature.
You are in the game to win the game, so are your fellow business owners. I find this the perfect solution to being in a competitive industry.
Challenge yourself and challenge them in the process. Through competition, you each drive the others to better products, services, and performance. Each winner shows the way to the next level, the next round, and the next race.
Remember, competition is the true heart of business success. If you have that in your corner, there’s no chance of failure unless you completely give up. And I always say, “That is NOT an option!”
What do you say? Are YOU going to take a chance on yourself?
Are you looking for help and don’t know where to start? My 1×1 Mentoring Sessions might be just what you’re looking for. Check it out here and get the help that you need to help you create your successful business.
Your Professional Success
Does your professional success require personal confidence? Nothing succeeds like success, right? Sure, I guess so you might say.
However, true success comes from confidence, and confidence, in turn, comes from success. They each revolve around the other in the ultimate symbiotic relationship.
Your Professional Success is your Foundation
This is not a “what came first, the chicken or the egg?” kind of proposition. Confidence definitely precedes success in the order of appearance. That’s because the quiet assurance of true confidence, as opposed to mere cockiness, serves to lay the foundation for reaching a goal.
In this way, confidence is more of an outward manifestation of an inward persona than it is a pose or an affectation. Cockiness, on the other hand, is simply an outward shield that masks inward insecurity.
Do you hear that?
Confidence in YOURSELF
As a business owner, you need to be confident in yourself and your product or service. People react positively to a confident person, especially if that confidence is real and a part of that person’s soul. In order to develop this type of true confidence, there are several things that you can do.
Professional Success is About Confidence
First, always remember that confident people are able to take a stand on an issue or a decision not because they think they are right, but because they are not afraid to be wrong.
Because they see a difficult situation as an opportunity for growth. Finding the right solution to a problem is more important than being right. Therefore, if they are wrong they will be the first people to admit it and move on.
Confident People and Professional Success
Confident people often listen far more often than they talk. They are more interested in hearing different information and opinions than they are in broadcasting their own. They also are never afraid to admit fallibility and ask for help. Did you realize this part of the equation? Yes, No?
They know that other people’s knowledge is their greatest strength.
Confidence is Critical to Professional Success
Finally, they understand that success is a team sport. They know that any goal is achieved through the efforts of many, not the will of the few. Therefore, they share the spotlight of success and shine it on others far more than they shine it on themselves.
What do YOU think?
I get it, to be mindful of your professional worth is a topic most professionals put on the back burner. I do it, all. the. time! Why? Because it’s not at the top of my mind, there are so many other things in there that there’s NO time to think about it!
What is “worth” anyway?
Here’s a definition:
Definition of worth (Entry 1 of 4) 1a: monetary value farmhouse and lands of little worth b: the equivalent of a specified amount or figure a dollar’s worth of gas 2: the value of something measured by its qualities or by the esteem in which it is held literary heritage of great worth 3a: moral or personal value trying to teach human worth b: MERIT, EXCELLENCE a field in which we have proved our worth 4: WEALTH, RICHES
Ha! Oh, so has that been a problem for you also?
Let’s break it down.
Experience is a Great Teacher
Each day, all of our lives are jam-packed with numerous experiences. A lot of these experiences are everyday occurrences. While others are less common. Occasionally, some are so unique that they are literally life-changing.
However, whether the experience is mundane or out of this world, it offers us a teaching moment. Yes, that’s right Most of us will, hopefully, come away from a unique experience with a fresh perspective. Yet, very few of us grasp the enlightenment that is inherent in the day-to-day activities that, by necessity, take up the majority of our time.
Buddhists call this awareness of the learning potential in the commonplace “mindfulness”. Successful business people understand this concept and utilize it to their advantage. Yes, here’s where it gets important to understand.
Mindfulness vs Value
When you begin to be mindful, you see that everything that you do has merit. You also realize that no matter what you are doing, you are capable of doing it better. Hummm…
To be mindful of your professional worth is to take action to find out what your actual worth is. Check out my new workbook so YOU can take action too!
In business, this means that you begin to pay closer attention to every task. You understand that each task fits into others and together they comprise the whole of your business enterprise.
If you take a shortcut or cut corners on the smallest of things it only serves to undermine the largest and seemingly most important jobs.
Likewise, when you attempt to do the most basic of jobs to the very best of your ability, this mindful mindset carries over into other areas and brings a new level of excellence to your entire enterprise. So, use every experience, every day, as a moment to learn.
Be mindful of bad or lazy behaviors and work to change them into more positive and productive actions. You’re only hurting yourself in the long run.
Your entire business will benefit from this simple attention to detail.
Get my workbook for “How To Get Paid What You Are Worth” using this link: Get My Workbook
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