Taking Risk is essential, but how much, when and why? Taking risks effectively is as much of an art as it is a science and we’ve asked some of the brightest folks in the community to tell us about how they think about risk taking.
Chelsea Morrow | Podcast Producer and Founder of Moxie Media Podcasts
I truly believe taking risks is the best thing you can do for yourself and for the life you want. Risk is a requirement for success. I would much rather take the risk and fail than to never give myself the opportunity to succeed. The thing that holds most people back from taking risks is that they are afraid of what will happen if they fail. But what most of us don’t realize is that what we think would be the worse case scenario really isn’t as terrible as we are envisioning in our mind. When we sit down and really think about the consequences of failing – it’s nothing we can’t handle. To me, I would rather deal with the consequences of failing than being stuck living a life I don’t actually want for myself. Read more>>
Terrance Doyle | Founder, Managing Partner at The VareCo
I think about risk in terms of “bets”, to win big in life, there must be big bets placed, but you never want to bet more than you have or make a bet that will knock you out of the game. When it comes to real estate investing, I actually minimize the risk as much as possible, and only place bets on properties where the upside of the deal significantly outweighs the risk. Our team tries to do the very best job they can with minimizing the risks, and being able to “handicap” any unforeseen risk that we may know are out there but may not be able to put into a “spreadsheet”. Most of the things that go bad in business or real estate are the items that people did not consider or think were possible (think interest rates going from zero to 8% in 18 months) these are the kinds of risks that are the most painful, the ones that no one sees coming or thinks are possible. Read more>>
Danelle Bowles | Health Coach & Peer Support Specialist
I imagine most people who know me would consider me a risk-taker, considering the outdoor activities and sports that I enjoy. In 2021, I nearly died in a speedflying accident. (Speedflying is an amazing sport – check it out on YouTube sometime when you’re bored!) I’m sure there’s a few people who can’t comprehend why I would return to the sport and choose to take that risk again. But it’s an incredible way to experience the world, and I still have a hard time believing that I live in a day and age where I can ‘fly’ without a motor. People dreamed of this for centuries! It’s exhilarating yet peaceful, and the sense of freedom I feel when I speedfly is unmatched. And to me, it is worth the risk. Read more>>
Ryan Land | Graphic Designer / Wrap Technician
When I first started the business I took a very “play it safe” technique. I would make money through jobs, and reinvest some jof it in equiptment and rinse and repeat. But after about a year, I decided its time to take a leap and make a first risk purchase ( A vinyl wrap printer, laminator, and plotter). After doing that I can honestly say that it has gotten me over my fear of taking a risk and having the posibility of failure. Making those high risk decisions is what will set you apart from the average DIY person at home, and open up oppurtunities when executed correctly. Without risks our company wouldn’t be where its at today. Read more>>