Risk & Your Business

Risk. It’s something we all take great efforts to avoid at all costs. However, in many cases, a greater risk reaps a greater reward. Stepping out of your comfort zone can reveal a wealth of new experiences that can have a major impact on your personal and professional lives.

As an event planner, it’s funny to look back on the years I spent as a successful makeup artist, taking care of young kids and dreaming of “what could be.” My aspirations were beyond where I was at the time, and it was an incredible risk when I decided to pivot my career and focus on event planning. However, the reward of a dream career and new opportunities were well worth the effort.

Risk is necessary for growth, but it can be a scary venture when the outcome is uncertain. Let’s look at some ways you can take the fear out of the process and enjoy the return of your effort.

Prepare yourself mentally

Taking business risks can be taxing on your willpower, but you need to go in prepared and ready for the challenge. You’ll need to figure things out on the fly and you’ll likely be stretching your income, which can impact your personal life as well. Survival mode isn’t fun, but it will create resilience that will help you navigate every situation that comes your way.

Time your shift wisely

Risky business moves take up a lot of time, energy and sometimes money; don’t plan your shift if you’re living event to event or if you have a major life change coming up, like planning your own wedding or moving across the country. When you take up risks in your company, you need to be prepared to direct your resources towards that change—a strong foundation is what will determine whether you get the rewards for your risk.

Self-reflect often

No matter how many business coaches you see, nobody can make your decisions for you. You have to know when you’re ready for a new direction since it will require your buy-in of time and energy. Don’t give into pressure because of others’ commentary and don’t rush your move; success will come at the right time when you are fully prepared and engaged to accept it.

Find your tribe

Although you are the sole decision-maker, you should still have people to lean on when the going gets tough. Speak with business owners who have shared similar experiences and engage with fellow creatives in the industry; since you are shifting your business’ core, you may need to make new connections. Use this as an opportunity to build your tribe and seek advice from those who can lend a helping hand. If you have a mentor, rely on them for guidance. You’re never alone in this!

Whatever your reason for risk may be, go in with the confidence and knowledge that you have determined the reward is worth the tough times. One day, you’ll look back on your decision and all the obstacles you faced with pride.