How to be a Smart Risk Taker


Moving forward with your invention idea can be scary. Why? Because it’s a big risk and the future is uncertain.

Commonly, things that fall outside the bounds of our comfort zone scare us; they make us second guess ourselves or make us believe that our idea will never work.

Today, we’re going to offer you some tools to combat that sort of thinking and realize as the popular saying goes, “Life begins outside of your comfort zone.”

Is it worth it?

When deciding on whether or not to take a risk, a good rule of thumb is to ask yourself some questions and really delve into the roots of the idea. Here are some questions to ask:

  • Is this risk worth fighting for?
  • Does your idea stir emotion?
  • Could it help others? Inspire action?

If you can answer “Yes” to these questions without hesitating, then it’s at this point that you really ask yourself, “Am I ready to take this risk?”

Be smart about it

Risks come in all shapes and sizes. Whether it’s taking a risk at lunch and opting for the taco bar instead of your go-to turkey club or deciding on whether or not to go skydiving, risks can be big or small and that’s why it’s always important to weigh the pros and cons. So, if you’ve wanted to move forward with something, but you think it’s too big of a risk, take time to write down the pros and cons of the idea. By doing so, you’ll be able to look at the list of positives and negatives to see the big picture of your idea.

Think quick

Sometimes when it comes to risk taking, you only have a split second to make a decision. It’s in these times that you’ll have to both act fast and learn fast. In quick-decision situations, it’s best to have your wits about you, be in tune with your gut feeling, and process the details at hand, so that you can figure out where to start. Every day is a new opportunity to learn. When taking risks, be logical and realize that failure is a part of life. However, how you deal with failure is a choice. You can either let it define you or let it help mold you. As Thomas Edison once said, “I haven’t failed. I’ve just found 10,000 ways that won’t work.”

You’ll never know if you don’t try

Risks are just that – they’re risky. There are no guarantees that when you take a risk, the outcome will be in your favor. Though you can’t go into a risk knowing that you’ll be rewarded, in the end, you can approach a risk with the mindset that you’re going to learn something new either way. On the contrary, there are risks that can be taken where the outcome is fairly obvious and might not be in your favor. It’s up to you to trust your gut and, like we mentioned in the last tip, weigh your pros and cons and be smart about your risk taking. So, the next time you’re faced with a risk – consider these tips and make your decision!

If you’re ready to take the plunge – you can submit your invention idea, today!

Copyright Davison, 2016