7 Questions To Ask Yourself Before Taking A Calculated Risk
*Thread*
*Thread*
A calculated risk means not going in blindly
Whether it’s:
- Moving country
- Setting a goal physically
- Quitting the 9-5 to become a full time entrepreneur
You should ask the questions to validate the reasonings behind the decision to take this risk.
Now lets begin:
Whether it’s:
- Moving country
- Setting a goal physically
- Quitting the 9-5 to become a full time entrepreneur
You should ask the questions to validate the reasonings behind the decision to take this risk.
Now lets begin:
1. What Sacrifices Will I Have To Make?
When taking a risk, it means you want to make a change in your life. Change means letting go of current habits
Say you want to quit your 9-5 to create your own agency. You may have to accept that you will make less money in the short term
When taking a risk, it means you want to make a change in your life. Change means letting go of current habits
Say you want to quit your 9-5 to create your own agency. You may have to accept that you will make less money in the short term
You will also have to sacrifice pleasures like drinking with friends every weekend and instead work on building your personal brand.
You have to love the process though. It definitely won’t be easy. People may think you’re weird. Is that something you’re ready to face head on?
You have to love the process though. It definitely won’t be easy. People may think you’re weird. Is that something you’re ready to face head on?
2. The Best Case Scenario?
Define your risk. Is this risk worth suffering for a reward which is big enough? How much potential is in this opportunity?
Start imagining the best case scenario. Use that as your driving factor. However, avoid placing your expectations too high.
Define your risk. Is this risk worth suffering for a reward which is big enough? How much potential is in this opportunity?
Start imagining the best case scenario. Use that as your driving factor. However, avoid placing your expectations too high.
Instead let that be your dream and motivation through this risk. “I am doing this because I want …”
Back to the entrepreneur example: You may want to create something that’ll change peoples lives. Steve Jobs wanted to change peoples lives with his Apple Product.
Back to the entrepreneur example: You may want to create something that’ll change peoples lives. Steve Jobs wanted to change peoples lives with his Apple Product.
And he successfully did. He knew the greatest outcome that his products can give to the world.
Throughout his failures of new products, he kept moving and eventually found the iPhone which changed the world. The message is asking yourself: What is my desired outcome with this?
Throughout his failures of new products, he kept moving and eventually found the iPhone which changed the world. The message is asking yourself: What is my desired outcome with this?
3. The Worst Case Scenario?
What if this doesn’t work out? Will I have anything left?
Money is often a big factor. When building a personal brand, how much of your money are you putting in?
Are you putting in too much? If this fails, how much will you have left?
What if this doesn’t work out? Will I have anything left?
Money is often a big factor. When building a personal brand, how much of your money are you putting in?
Are you putting in too much? If this fails, how much will you have left?
The likeliness is you’re going to fail the multiple times. So the important in still having assets is understated.
Without them, you may have nothing left to build back on.
There needs to be an option to fall back on to assist you in climbing back up the ladder.
Without them, you may have nothing left to build back on.
There needs to be an option to fall back on to assist you in climbing back up the ladder.
4. Is This Something I Am Passionate About?
With passion comes drive. You’ve got to love the process. You’ve got to love this niche you are participating in everyday.
Gary Vaynerchuk once said:
“If you don't love the process, you've already lost.”
With passion comes drive. You’ve got to love the process. You’ve got to love this niche you are participating in everyday.
Gary Vaynerchuk once said:
“If you don't love the process, you've already lost.”
Are you passionate about Music and want to begin a music agency? Ask yourself if that passion is strong enough.
Do you find a certain art in music where you can pick up prospect artists? Are you dedicated to growing in the Music industry? You can’t have a half heart about this.
Do you find a certain art in music where you can pick up prospect artists? Are you dedicated to growing in the Music industry? You can’t have a half heart about this.
5. On What Scale Is My Level Of Knowledge To This Risk?
Going into a risk, you won’t have all the answers. The answers are often discovered through failure. However, your level of knowledge needs to be at a moderate level.
There is an importance in having some expectation.
Going into a risk, you won’t have all the answers. The answers are often discovered through failure. However, your level of knowledge needs to be at a moderate level.
There is an importance in having some expectation.
Just don’t go in with a blind eye. Have an idea how the system works and how you can use this to your advantage.
Preparation is setting yourself up for success.
Preparation is setting yourself up for success.
6. Narrow Down Your Fears
This will be a scary ride. People will perceive you as crazy. Self doubt will cloud your mind at times.
To narrow down the fears, you should cut out the bigger picture at times. Focus on the smaller problems that lay directly in front of you.
This will be a scary ride. People will perceive you as crazy. Self doubt will cloud your mind at times.
To narrow down the fears, you should cut out the bigger picture at times. Focus on the smaller problems that lay directly in front of you.
Try to prevent the ‘big picture’ overwhelming you. Because it really will.
Place your focus and energy on fixing each smaller problem one by one. And then with reflection, you can scale your success so far and realise how close you are to the ultimate goal.
Place your focus and energy on fixing each smaller problem one by one. And then with reflection, you can scale your success so far and realise how close you are to the ultimate goal.
7. Why Are You Taking This Risk?
Keep reminding yourself of your ‘why’.
Are you unhappy with your current progress? Does the environment around you not bring satisfaction.
Often people can get lost in the motion and forget their overall goal. Start defining the goal.
Keep reminding yourself of your ‘why’.
Are you unhappy with your current progress? Does the environment around you not bring satisfaction.
Often people can get lost in the motion and forget their overall goal. Start defining the goal.
Start setting checkpoints. Every month, write down your progress.
Are you satisfied with your progress? If not, how can you persevere to push closer to the goal?
Always remind yourself of the short and long term goals to ensure you are remaining on the track you want to run.
Are you satisfied with your progress? If not, how can you persevere to push closer to the goal?
Always remind yourself of the short and long term goals to ensure you are remaining on the track you want to run.
Thank you for reading this thread🙌
Likes and RT are much appreciated✅
Likes and RT are much appreciated✅
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