Perspective

The Power of Embracing Risk To Your Advantage

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Momentum is key. And the more you have, the more you want to make sure you have your i’s dotted and your t’s crossed. You don’t sit there every day and contemplate whether or not something is worth doing, you just keep doing it. You need to be good at embracing risk to take that action.

This new opportunity may not work out. I’m unsure of what will happen. What if I lose? How will it all come together?

These are all fears that paralyze most people and keep them from taking the appropriate risks in their lives. And the problem is, risk is a necessary function of living your life and maximizing your utmost potential. The same especially holds true for business.

In fact, embracing risk has a direct correlation with having faith. You don’t know the outcome, but you can control your own actions, behavior and character to get to the desired outcome of your choice.

The reason being, is that when you have momentum for something you’re doing from a place of passion and hard work, instead of unforeseen obstacles being a complete barrier, they will seem like minor speed bumps. You can pivot faster because you’re not paralyzed from the unknown, but “informed”. You know what works and what doesn’t work so you can continue making moves.

Hence, the inverse, or opposite, of risk, is opportunity.

If you’re going to lead a life of opportunity, it’s important that we dissect the meaning of it, what are true risks and how do we create an internal “risk insurance” policy.

 

Let’s Start With Opportunity . . .

Opportunity: (/op-er-too-ni-tee/)

  1. an appropriate or favorable time or occasion.
  2. a situation or condition favorable for attainment of a goal.
  3. a good position, chance, or prospect, as for advancement or success.

Opportunities exist everywhere depending on our own perception. If we operate from a place of fear, then we tend to see only a risk with an unfavorable outcome.

If we operate from a position of gratitude and abundance (upcoming article), then we see opportunity in things.

For example: Let’s say a person wants to go out and get their dream job.

Person A operates from a fear and lack-based perspective. They suddenly lose their current job and immediately scramble to find an equal position to “survive”.

Person B operates from a gratitude and abundance-based perspective. After they lose their job, they recognize that they asked the universe for their dream job. Hence, this “loss” of their current job is an opportunity to go after what they really want to do. They recognized that they lost their job to because the universe wants to be able to provide them with what they really want.

Perspective: Sometimes, it takes losing something to pull us out of a situation that no longer belongs to us in order to move us towards what is.

 

Now Let’s Talk About Embracing Risk . . .

The 2 key areas of risk are:

  1. Human
  2. Tangible (non-human)

. . . and it’s important to understand the differences between the two.

“Human” risks, are essentially the majority of the variables we deal with everyday. That is, we can control what we can control, and we can control a heck of a lot more than we give ourselves credit for.

Hence, we can take care of all of our day-to-day things that keep us up to date, maintained and optimized. If you don’t like the outcomes you’re experiencing in life, you can mitigate those more than you think, simply by creating new habits and establishing an internal “risk insurance” policy (as discussed below).

“Tangible” risks are something you physically have at the end of the day. You do “X” to get “Y” and that can be more easily measured.

However, we live in a world where most risk is “human” factored. Because a majority of the world is operating off of their own vices (thoughts, feelings, energy, ideas and more), there are a lot of unforeseen circumstances we cannot account for. This means, it’s vital we take into account our own behavior and create, what I like to call, an internal “Risk Insurance” Policy.

 

Creating an Internal Risk Insurance Policy

Let’s start by defining what a policy is. It’s basically something you put in place to mitigate or offset the risk. Examples include, health insurance, life insurance, car insurance, business insurance, renters insurance and more.

Well, just like the aforementioned policies, you also need to instill certain habits to offset risks in your life as well. As individuals, we must do certain things daily that are preventative or upkeep maintenance. This is a form of internal insurance. We brush our teeth, we prevent cavities. We tune our car and maintain its engine, we have less wear and tear.

When you take care of what you know what you have control over, you inherently diminish the risk. Now, if something happens, it happens. Of course, this is why you have insurance, just in case.

However, there’s something very key in the above. Keeping good habits will keep you in a good psychological state. Being in a good physiological state will allow you to flow. If you don’t maintain good habits and a good physiological state, obstacles that arise could be enough to disrupt and create a domino effect in your life. This can take you out of flow and away from opportunities because suddenly you have to take care of something that you wouldn’t have had to otherwise take care of had you practiced good habits.


In essence, if you do not take care of things immediately in your life that allow you to maintain flow, 30% of your time will be spent being reactive instead of being proactive. And this is where you can see that risk goes up and the true cost of opportunity.

 

Here are 4 things you can do to create your own internal “risk insurance” policy and instill good daily habits for life and for business:

 

Create a policy for your life:

    • What are your values?
    • What do you need to do on a daily basis to take care of your life’s goals?
    • Do you have a morning routine? (i.e. Gratitude, Working Out, etc.)
    • What kinds of healthy habits can you implement?

Create a policy for your business:

    • Look at the opportunities that you have out there to take advantage of. To best take advantage of these opportunities, you have to mitigate as many risks that would undermine the overall success as much as possible. There’s no insurance policy that you can buy that will guarantee, but there are other types of policies that will protect you from things that go awry.
    • Create a solid “methods of operation”.
    • Know your values.
    • Make rules that you can adopt.
    • Know your “why” so you keep going and stay on your brand or company’s mission.

Ask yourself if you can afford not to create certain policies:

    • What’s at stake if you don’t acquire policies for your life and business?
    • Do you have a backup system for handling problems you could have avoided?

What goals are you trying to achieve and what are some things you are unaware of in achieving those goals?

    • This will help you handle what can potentially happen, or at least prepare you ahead of time in thinking about what’s at stake.
    • Analyze and determine the outcome you want and create your policies around that to mitigate risks that could harm those.

If you don’t create policies for yourself, all you will see are risks. This is the equivalent of putting up barriers and, in turn, you can’t take action. One by one, when you look at the risk and the cost, all of a sudden, the risk is offset by you dealing with it ahead of time. It’s alleviated. You now have a sense of confidence that this will all work out, and guess what, it usually does.

As humans, we’re more motivated by discomfort than opportunity. Don’t wait for discomfort. Seize opportunity. Make policies and after about 90 days, watch them become great habits.

 

Are you embracing risk to your advantage? As always, feel free to comment and share your experiences and thoughts below.

  • Mr jay i just had to read all of the value in that piece awesome i think if i have you as a mentor the capturing the odds wouldn’t be a problem i can see why you became who you are and i am me bless u.

  • thank you was valuable to me bless .

  • Anna Glambotskaya

    Great content, Jay! For me the hardest risk to mitigate is my emotional state (maybe like for many people). One day you wake up and do not feel like doing anything, you question yourself ” why you are doing what you are doing”, you are terrified by the path you still need to go through to get closer to what you want to achieve, you doubt you have enough of stamina to go over all the obstacles.
    We all have this time to time, I guess:). This emotional state can put you off the track for a while. To mitigate this risk first thing I do is to acknowledge the fact this state of mind is only the result of emotions which come and go. Then I look at what I have accomplished in my life already and try to give myself credit for doing that:). What helps me as well is to switch completely for some time from what I need to do and go into the world of what I call ”small pleasures of life”…trying to notice small beauties in everyday existence and be grateful for them:)

  • Jerawan Slagle

    Hi Jay,

    First of all thanks for giving me a chance to see your great website! I joined the ‘Wakeupcall’ and will look forward to hear your voice there!!!

    PS: I see that you’re in Bali and needless to say I wish you the best time ever there!

  • John Cheng

    Thank you for this Jay!

    Anna Glambotskaya, above, stated it perfectly for me and I’m sure a lot of others. Thank you Anna!

  • Thew – Thanks for the awesome compliments!!

  • Anna – You’re right, the emotional state can put you off the track for a bit. It happens to the best of us and we’re all human. I like the fact that you said you’re giving yourself credit for the things you’ve already accomplished. I think some people forget to do that. We can only do so much and it’s good to reflect how far we’ve come. Keep up the great work!

  • Hi Jerawan! Thank you! Yes, I’m currently in Bali. More adventures to report back on!

  • Thank you Jay, I always love to hear what you have to say. You have a way of putting things into different prospective then how I was looking at the same thing. Usually, it makes more since when you put your spin on the topic. As for the the “Risk Insurance” I have heard of it before but really did not fully digest the concept at the time. After reading you break down of this subject it makes perfect since. No, I just need to put it into action. Thank you so much again. Wish, I could be there with you all in Bali. Enjoy and I cannot wait to hear all the news.

  • Thanks Jay for this wonderful opportunity to improve our lifestyle. We proceed daily with the power to continue on this journey inspite of some unfavorable circumstances we are putting out of our minds. Our learning has been a blessing in disguise as we dance through the puzzle of life to improve ourselves, develop confidence to proceed to assist in changing the world by serving others. LOVE ALWAYS XOXO

  • Angelika Koop

    Come said the father to his 3 chicks, come to the edge and they moved closer towards his voice. Come said the father to his 3 chicks, come to the edge and they moved closer to the edge. The chicks toppled over the edge, found their wings and flew into the the sky.

    With faith and trust opoortunity is everywhere. Especially in the contrast. If people didn’t get sick we would not need a health system- so is the opportunity to invent the bandaide or is the opportunity to teach how not to get sick in the first place and how to stay well?

    Diagnosis can be deadly. Once a diagnosis has been given by a trusted, reputable physician most believe it is so and that there is no other way. Yet there are examples everywhere that show the body with the mind has the power to heal itself ( Deepak Chopra) – oh if we could just know this, believe this and practice this – what a wonderful world this would be!