Risk has a scary connotation for many people. Maybe that’s due to pop culture references like the movie Risky Business or the board game Risk. Maybe it’s because we have stunning examples of the downside of risk like the latest economic recession which has harmed millions of people to a frightening degree.
The downside of risk paralyzed me for a long time. We have a natural, genetic predisposition to safety and we have been taught that risk is the opposite of safety.
How I changed my view of risk:
That unfortunate, and frankly untrue, equation kept me working for someone else for a long time. At 36, I just left behind a life of working solely for someone else to step out on my own as a freelancer with my new business Chasing Down the Muse, a consultancy business to assist creative professionals and companies on the leading edge of their industries. One reason that dream came to fruition had a lot to do with recognizing that for every downside, there is an upside. And though I wish there was a way to go out on a limb and guarantee safety, that just isn’t how it goes. Upside and downside are inversely proportional. The bigger the potential upside, the bigger the potential downside.
So are we stuck with those natural odds of risk? Absolutely not! There are a number of things we can do to pad our odds in favor of achieving the upside of any risk:
1.) Stash away your cash. I don’t offer investment advice but I feel infinitely confident saying that liquidity in your assets (having cash) is tantamount to giving you the best odds of achieving the upside of a risk. It gives you a cushion to land on if you come crashing down from your leap. How much do you need? That depends on your personality. I tend to hypochondria. I hope for the best and expect the worst. Many financial advisors now suggest having 6-9 months of living expenses stashed away as an emergency fund. I put away double that over 5 years because that’s what I needed to feel secure. You may feel comfortable with less, or you may need more.
2.) Meditate. Seriously? Yes! My yoga and meditation practice is a tool I use whenever I feel the jitters associated with a risk I’m contemplating. It relaxes my body, calms my mind, and helps me to call upon my creativity to drive home new ideas for boosting my odds of achieving the upside of a risk. I teach to share yoga and meditation to share these practices with anyone who wants to give them a whirl and incorporate them into their living. Curious about some meditation techniques you can use yourself? Contact Me.
3.) Stop talking, start writing. We can often talk ourselves round and round into a circle when it comes to our fears. That doesn’t mean we should stop sharing that information. I talk to my friends, my family, my dog, and to all of you about my fears. However, there should be a point where we give ourselves an end to it. I love this exercise from Pam Slim, author of Escape from Cubicle Nation: write down every fear about a risk you’re contemplating and then stack actions against every one of them to ease or erase that fear.
And when all else fails, remember this tidbit:
– Everything will be alright in the end. If it’s not alright, it’s not the end.
Christa Avampato 