E29: Courage, Part 3: Finding Your Bouncy Floor: Practical Risk Assessment & Risk-Taking

Jul 30, 2020

 

Nothing opens the door for spectacular success like taking a risk.

But taking a risk also opens the door for spectacular failure. So how do we ensure we go through the right door?

 

In our final Summer Strategy Session on courage, we take on the common adage credited to John Burroughs:

“Jump, and a net will appear.”  

How many of us have learned the hard way that if we don’t build the net first, we will only fall flat on our faces?

What if I told you that there was a way to mitigate the risks that are necessary to grow your business? Failure happens to the best of us. But failure doesn’t have to capsize us, taking our business and personal finances relationships down with it.

The 5 Keys to Effective Risk-Taking can help you mitigate risks and the potential for failure. 

Did you know many of the entrepreneurs who are known for taking risks - and having them pay off - were really just skilled at risk mitigation? 

Today I break down the key components to effective risk-mitigation so that you can give yourself the best chance at achieving your dreams. 

Are you ready to change your mindset, budget your time and money, and walk through that door to success? If so, this episode is for you. Listen now.

 

In episode 29 of Small Stage, Big Impact we discuss:

  • [8:54] How and why to build your own net, because no one else will do it for you.
  • [13:25] What the sunk-cost fallacy is and how to avoid it in your business.
  • [21:33] The importance of betting smart so you don’t over-leverage yourself.
  • [24:17] Going second so you don’t have to seed a new audience.
  • [26:57] Learning how to break down your timelines to better budget your time
  • [31:17] The importance of noticing the gaps where new ideas and businesses are most needed.

Resources mentioned by Renia in the episode:


  

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Small Stage, Big Impact is hosted by Renia Carsillo (that's me!). I am hardcore passionate and committed to bringing the systems and strategies that give big brands an unfair advantage to local businesses. For that reason, I created the Local Rock Star Intensive, where I help local business owners use their small stage to have a BIG impact. Thank you for being here and reading this far!