Risk Tolerance
Discover more from How to Lead Everybody (with their permission)
How comfortable are you with taking risks?
Most people are somewhere in the middle of the continuum between “adrenaline junkie” and “risk minimizer.”
Ideally, as leaders, we want to step up and take risks when we have to, and maximize our chances of success by making those “calculated risks,” and not “hold my beer” risks. We want to be ready, willing, and able to grab hold of opportunities when they arise, and not miss our chances.
Consider what you need to be confident to step up and take on a risk. Some people need to “do the math,” work through the numbers to analyze the risk out of the risk. Some people need to check with their people—make sure that a negative outcome won’t hurt their people too much, and/or make sure that they have back-up—someone holding their “belaying rope” when they are out on the (metaphorical) cliff face. Some people need to load up on knowledge—they need to read the manuals, take the training course, or watch the how-to videos, to feel like they have the competency to succeed.
Make sure you get what you need to feel comfortable with your decision. Then go for it!