5 ways of  harnessing the power of positive risk-taking

Have you taken a few risks to get to where you are today?

Jack Dorsey Twitter co-founder  defined entrepreneurship in terms of risk-taking.

“The definition of entrepreneurship is actually taking on significant risk, usually financial, in order to build something,”

he says.

“That means anyone can really take on an entrepreneurial attitude. An entrepreneur does not necessarily create a business. It’s just a very bold attitude of taking on risk.”

Taking on a bold attitude for a risky next step isn’t as difficult as it sounds. Here are a  5 ways of  harnessing the power of positive risk-taking.

1. Fight the negativity bias.

“The problem is the negativity bias—we tend to exaggerate the riskiness of certain moves and underestimate the opportunities of others,” –Tim Ferriss 

“The biggest risk is not taking any risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” —Mark Zuckerberg

Instead of focusing on the consequences of a risk you’ve never attempted, try to evaluate the entire scenario, including any potential hazards of doing nothing.

“Risk is an unavoidable constant of life, so your focus should be on taking the right kinds of risks that offer the right kinds of opportunity,” -Tim Ferriss

Ask yourself: Which risk is worth taking? Which risk would impart more meaning or happiness to my life? Which risk would pay off more in the long run?

 “The biggest risk is not taking any risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” —Mark Zuckerberg

2. Build self-efficacy.

“All life is an experiment. The more experiments you make the better.”  -Ralph Waldo Emerson

Norris Krueger Jr.  and Peter Dickson in 1994 study on risk and decision-making, entrepreneur researcher Norris Krueger Jr.  discovered that small, measured risk-taking behaviors can increase confidence and self-efficacy, the “I think I can” positive psychology that add achievement.

The more experiments you make, the better you get at making them.

Action Step – try to increase your comfort level by taking a small risk before embarking on a bigger one.

3. Be intelligent with your risks.

Risk-taking doesn’t necessarily mean you’ll be successful. It might be helpful to build in parameters or conditions for each risky decision. When Todd Goldberg  left his job in August 2013 to start Eventjoy, he gave himself one year to make it

Just over a year later, Ticketmaster bought Eventjoy for a significant amount.

“We had more lows than I can count—getting no’s from dozens of investors and the product breaking at critical moments, just to name a couple. Despite all that, we’ve had an amazing year that included being accepted into Y Combinator’s winter batch, raising funding, making great progress on the product, and most important, growing at a good rate.” -Todd Goldberg

Philadelphia Eagles, Emmanuel Acho sums it up

“The dilemma many athletes face: Is it worth maximizing capital now, maximizing my talent now with the small window of time I’m in the NFL, or should I try to focus on opening doors for the future?”

Acho currently focuses entirely on football, but during the off-season, he invests his time in earning a master’s degree and running an online community startup, Be Neighborly.

“Startups are hard.  They are miserably hard, yet it’s in our blood to just be challenged and pursue something risky. In the off-season, people were traveling and having fun, and I was just studying and working. Hopefully that pays dividends in the long run.”  – Emmanuel Acho 

4. It’s OK to “fail.”

“Fail fast!” sound strange but could actually be seen as a method for success.

New York University conducted a gambling experiment in which some participants were told that losses were completely inevitable and acceptable, while others weren’t given the same pep talk. At the end of the study, participants who expected losses didn’t become dejected when losses occurred, and they were able to outperform their peers by taking more intelligent risks.

Failure is an option and you must come up with a plan on how to handle it. Being mentally prepared enables you to make positive risk-taking decisions without fear of the unexpected, which can be the most disappointing thing about taking risks

5. Just do it.

After analysing a risky opportunity , sometimes it’s best to listen to your gut and just do it.

“Now that I’m on the other side and have started Eventjoy, I’ve learned that creating, and even joining, a startup is not as risky as it seems. You’ll learn more in two years than you would have in five years of a ‘normal’ job. You’re forced to be resourceful, which can be a powerful thing when it comes to creativity and execution. You often have a large role in something that will hopefully impact millions of people. Plus, if it all falls apart, you can always go get another job.” -Todd Goldberg 

So whats holding you back from starting with Nowlifestyle? as Todd Goldberg said “You’ll learn more in two years than you would have in five years of a ‘normal’ job”  or put it another way

 “You’ll could earn more in two years than you would have in five years of a ‘normal’ job” 

Brought to you by Mat Mathias An affiliate at Now Lifestyle where you can start a six-figure home business (six-pack abs included) for under $20.

This has been inspired and modled 100% from Todd Falcones original blog post HERE


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