Risk and Chance | Victor Benoun

Victor Benoun

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Recently I wrote a blog about fear and concern and how those words are used incorrectly and substituted for one another. I think the same is true of risk and chance.

When I think about taking a chance, it means doing something without really thinking it through, and without examining possible outcomes or do any research whatsoever, maybe even being reckless. It’s like putting money in a slot machine, I may win or I may lose and I cannot influence the outcome.

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I look at risk more in terms of calculated risks meaning I have done homework and research and made the best decision possible. If I am an investor and am considering rental property then I will research a given area to see how values are holding up, look at vacancy factors, potential upkeep and expenses as well as rents. Then I make the best decision I can as to whether I am going to make an investment or not. Based on all my homework and research I am applying principles and I am taking a calculated risk.

Here is why this is important. We all know there are no guarantees in life. If we do nothing with our money not only are we staying the same, we can actually be falling backward because of inflation.

The same is true in our personal development. Whether you want to start a business, change careers, learn to dance, write a book or begin any other venture there are no guarantees for success. But if you do nothing to expand your growth, you are not only staying where you are, you are potentially falling behind as the world continues to evolve and progress without you.

The longer you wait to take action, the longer it will take to see results. A year will come and go and if you do nothing then you will be in the exact same place you currently at. Five years will come and go, and you will not have progressed. A lifetime may go by and you will never know if you may have succeeded and accomplished a lofty goal.

You know in your heart if you are happy and satisfied with your life or instead if you are restless and feel like there is more for you. Research, do your homework, attend lectures, seek out others who are already doing the thing that you want to do. Take action and get started. Even if things don’t turn out exactly as you like, consider your results as feedback and an opportunity to make adjustments. I have owned my own company for 21 years and I promise you that events will occur that are unforeseen and unexpected. Some are pleasant surprises, others….well, not so much. I want my life to be one where I feel fulfilled, and that I have completed and accomplished what I am capable of. If I worry about taking risks, then it will be impossible for this to occur.