Converting risk into opportunity

September 29 2019

Risk is often associated with negative consequence and bad bets. Yet sometimes risk can bring opportunity, growth, confidence, and responsibility. The right risk-taking behaviors build self esteem and self-efficacy, the belief in your own ability to perform and create change. Positive risk-taking encourages you to take control over your own life.

Examples of risk converted into opportunity:

  • Investment
  • Taking steps, however small, toward your dreams
  • Personal growth
  • A business idea
  • Making change: Lifestyle, approach, identity
  • Initiating conversation at the supermarket
  • Creative endeavors
  • Relationships

For risk-taking to become positive, potential benefits and consequences must be fully explored. Evaluating your priorities and potential can help identify the resources available to you as you draw up strategies to minimize negative outcomes. This work can be time consuming — but worth it.

Some questions to ask:

  • What are the reasons for taking this risk? Am I responding to a situation or taking a proactive approach?
  • What are my experiences with risk? What is my understanding of it?
  • Outline actions that could be risky. What are the possible positive outcomes? Clearly define the risks are you going to take and describe the ideal responses from these actions.
  • Consider any negative repercussions, including the likelihood of these things happening.
  • What safety nets already exist? Are there any you can create?