I associate the level of risk to be taken with courage. Courage in management and business is the level of determination of the leader to make decisions or directions, even when they would not be accepted by all. For example: approving or rejecting a strategy, reviewing the organizational structure, changing the corporate image, saying no and even… Start in business! What is the level of risk to take, for you, for your organization? As you know, we are in a fast-paced, connected and creative world where innovation contributes to the sustainability of organizations.

The pressures that organizations are under also apply to individuals.

Pressure and risky decision-making don’t always go hand in hand. At the same time, it’s the context of today. So I invite you to use the following approach, especially when you feel pressure, to connect with the right level of risk to take for you!

1- What are you convinced of?

If you don’t dare to take any risks at the moment, if you have doubts, ask yourself if you are really convinced of your project, your orientations, your decision. Conviction being intangible, you will have to take a moment with yourself. Don’t go into your reasons to try to convince yourself; Just go in the direction of your intuition. Are you sure this is the best thing to do? Perfect. Don’t overanalyze. Not sure? First take stock of what you are missing to be convinced. Confidence? Data? Experience? Support?

By understanding what you’re missing, you’ll be able to make the right requests, to the right people.

Your first filter should always be your “for what”. This can be your vision, your cause if you’re an entrepreneur, or the organization’s vision if you’re a leader.

This point may seem trivial, but reality proves that it is not. Many of the leaders I work with lack meaning at work, guidance and support. Risk-taking is very high pressure in these cases!

Finding your “for what” requires some introspection. Still, here’s an easy way to connect to it:

Take a moment to ask yourself what you are doing (your activity), what you want (your goal), in order to (a reason). This can result in:

  • “As a leader, I want to bring people together to create performance.”
  • “As a creator of computer systems, I want to support the operations of companies, in order to make daily life easier.”

Now it’s your turn!

 

2- Prepare yourself

When we talk about taking risks or even management and business courage, it often comes with the part: engaging others in our project.

To be successful, nothing can be done alone.

Who would you be without your team? Your partners? Your spouse? Your family? Your friends? Your coach? Without a doubt, you wouldn’t be as successful, happy, and motivated. Yes, some people at work are the solo type and break records for “numbers”. All right. For me, this is not overall performance, it is the achievement of objectives. For me, performance includes the tangible, such as numbers, and the intangible, such as the engagement generated and the satisfied-satisfied relationships. Taking risks in this context is easier! You’re not alone! In all the decisions and directions you choose, or are in the process of choosing, who will be your allies? Or on the contrary, who will you have to convince? How are you going to engage them? Prepare your communication to have the best possible reception. If you are convinced and you are ready to take the risk of displeasing, here is how to prepare:

  1. What would you like to remember at the end of your speech?
  2. What context can you give to your interlocutors so that they understand your decision-making process (in other words, why you made your decision)?

At the end of your intervention, ask the person or group what they understood, what they are concerned about, and continue the discussion until everyone has understood and the concerns are addressed (not necessarily resolved). If you’re not convinced, and you’re willing to take a calculated level of risk, here’s how to prepare:

  1. What would you like to remember at the end of your speech?
  2. What context can you give to your interlocutors so that they understand your decision-making process (in other words, why you made your decision)?
  3. What specific questions can you ask to find the answer to what you are missing?

Point 3. is very important. If you’re missing data, ask for data (don’t ask for feedback on what you’re not missing)! The more specific your questions are about what you are missing, the more trust you will generate. Don’t question everything for one part! At the end of your intervention, ask the person or group what they have understood, until everyone has understood and make sure you have an action plan related to what you are missing.

 

3- Take small steps

The idea here is to manage potential risks. Manage your project/idea by small goals (iterations, phases) and adjust your plan as you go. For example, if you give yourself 1 year to develop a new product, you could do a step back every quarter. Or, if you give yourself a quarter, you could take stock every month. Do you get the idea? At each step back, ask yourself the following 3 questions about the project:
– What did I do right?
– What can I improve?
“What do I lack?” I also invite you to add the following elements to your points of hindsight:

  • A look at your surroundings
    • Internal: Is this idea still relevant in the context? What has changed in your internal environment? A new boss? A new colleague? The departure of a key employee?
    • External: Did a competitor have the same idea as you? What is the trend in your market? Depending on your niche, are you impacted by politics, the economy, the environment, laws? Or are there cycles in your field that influence, or could influence, your business?

Looking at what’s going on outside of your world is a great way to manage risk!

Remember that this world moves very fast!! As a result, adjust! Make your next actions fair and relevant in your context.

 

Taking the right level of risk…

Taking the right level of risk for yourself will lead to more success and more self-confidence. The vision being intangible, we have to rely on our intuition and go and find what is missing so that everything is crystal clear to us. Don’t underestimate the pressure you’re under, be aware of it and adjust your level of risk accordingly. Always be prepared and keep an eye on your surroundings. So, what is the right level of risk to take?