Sometimes it's financial - do we invest in that technology today or tomorrow?
Sometimes it's personal - do I trust them with this information?
Sometimes it's physical - do I try this?
Sometimes it's mental - do I have what it takes?
All risks cannot be categorized....some risks we don't even want to talk about because we hava buried them so deep.
Leaders take risks. Good leaders, just like the entrepreneurial spirits they are, find ways to calculate the risk.
- is it good for my people? team, clients, family, community
- will the outcome create a lasting benefit or is this a one-shot deal?
- does the opportunity to take the risk advance me or my organization? and which is more important for this objective?
- can taking this risk impair our future?
- does this risk align with our mission & values and equally important, our vision?
- is the cost of this risk worth it? in time, money, change strategy
Lots of things to consider. To continue to grow as leaders, we need to develop a serious way to calculate risks in order to determine their worth - to ourselves & our organizations.
How do you calculate risks? Or do you even stop to measure, simply forging ahead?