Saturday, September 23, 2006

Tactics: Risk

Any successful person has chosen action as against inaction. In any initiative or opportunity pursuit there is an element of risk.

Ther are gamblers who enjoy the gamble and there are 'Broadway Risk' players who know that they will win some and lose some. The important point is to stay in the game.

There are others who try to minimize risk as much as possible because they do not need it since the steady growth of their business will ensure success.

Assessing uncertainties and potential dangers comes under the heading of reasonable expectations. There is a spectrum of risk, and you decide the point at which you become uncomfortable.

Things outside your control can go wrong. Success may then involve extricating yourself from the situation in the best way possible.

Risk and reward may be compared. The downside can be compared to the upside. Such comparisons aid decision-taking.

Both investment and innovation involves risk. Both may be essential. So the emphasis is on risk reduction and reward enhancement.

A sense of adventure may impel successful people to take risks--the risks are then reduced as much as possible.

It seems that sucessful eople like doing things that involve risk but do not like the risk itself--so they seek to reduce this.

Instead of being risk-takers successful people should be considered opportunity-conscious.

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