3 qualities of successful risk-takers in business
Very few people are willing to take big risks in their life, especially when it comes to their job. We have a financial as well as an emotional interest in having a stable job. However, it's been shown that the most successful people are risk takers and willing to make big changes in their careers. Don't believe us? Here are three qualities that adept risk takers in business have and that you can learn for your own professional development:
1) Awareness of the changing job market
The job market is not what it used to be with the advance of technology and risk takers are aware of this. The reality is that technology is speeding ahead and curriculums are lagging behind.
That's why in today's world, it's important to realise that getting out of your comfort zone and adapting to technology may be necessary.
It can be all too tempting to stay comfortable instead of getting the necessary development training This was the case with cable companies who were hit hard by the emergence of Netflix. However, McKinsey & Co. says that it is not as if they didn't know that change was coming. It was an organisational challenge, most of all. The need to change felt too risky and daunting, even though it was necessary.
2) The ability to anticipate change
Because they have an awareness of the changing market, successful risk takers are also expert anticipators.
By anticipating change, they're ready to adapt when the opportunity arises. Dr. Maurice Ewing who is an advisor of boards and executive teams as the managing director at Conquer Risk, writes in a Forbes article that CEOs will often say that they are always on the lookout for opportunity.
Dr. Ewing gives the example of Steve Jobs and how he made Apple the tech giant it is today by waiting until people had an appetite for a certain kind of technology. Apple did not invent MP3 players or tablets but by anticipating the growing demand for these products, he saw his opportunity and created superior products.
So, risk takers are always acquiring information and they take risks when the time is right in the market.
3) Taking calculated leaps of faith
Implement Online's online courses often focus on how positivity is what it takes to be successful. Good risk-takers are continually looking on the bright side when everyone else feels bleak. However, their optimism should not be mistaken for naivety, Dr. Ewing says. Instead, they anticipate failures, too, and think of ways to adapt should bumps in the road arise.
Dr. Ewing provides the example of Tesla's exit strategy. The co-founder, CEO, and product architect, Elon Musk, who had an exit strategy in case consumers didn't fully take to the idea of charging an electric car.
The lesson is that good risk takers don't blindly take leaps of faith. Rather, they take a calculated leap of faith and have a back up plan.
3) The courage to have an unpopular opinion
Being a good risk-taker also requires being an independent thinker and going against popular opinion sometimes.
In a Forbes interview, CEO Sandra Peterson discussed how she was doubted when taking big risks. She said people thought she was "crazy" when she expanded her US$10 billion organisation, Bayer CropScience.
"If you look at my career, I've taken on a lot of risky roles. They were risky to some people but to me it was, "Wow, this is this great opportunity and it's allowing me to learn new things and take on a bigger role and a bigger organisation. But some people would view that as, 'Are you crazy?'"
It takes confidence and courage in yourself to take risks, even when people are trying to discourage you.
Go against the grain and learn how risk-taking is the only way to go forward. It takes awareness, calculation, and courage to leap into the unknown, but these are skills you can learn in Implement Online's Taking Charge of Change online course.