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Business Strategy with Hirav Shah MAY 19, 2023 | The Indian Eye 38

THE BIGGEST RISK OF ALL IS

NOT TAKING A RISK

Risk hai to Glory hai

that it’s not all going to be clear sailing,
and that’s absolutely okay. You learn
more from distress than from success.
If you really ponder, the road
well-traveled is rarely without its
hiccups, but you accept these more
readily because you haven’t “done
something silly” like taking a signifi-
cant risk to reach this juncture. These
gaps are more easily justified.
However, everything you do re-
quires courage. Whether it is to ex-
periment something fresh or new or
steady the ship. Sometimes, you just
have to keep both your eyes closed.
HIRAV SHAH And take that leap of faith.
Richard Branson is one of the
he biggest enemy of success is best-known calculated entrepreneur-
the comfort zone and ninety ial risk-takers in the business world.
Tpercent people or even more From starting Virgin Mobile to disrupting the airline industry with Virgin Atlantic and Virgin Starting Virgin Mobile, to disrupting
want to stay in their comfort zones America, Richard Branson has confronted everything (File photo) the airline industry with Virgin At-
only. In a world that’s constantly lantic and Virgin America, the popu-
changing, success is not and never tions who take calls. lar founder of Virgin has confronted
guaranteed if you wish to stay in your What is a Business Risk? Risk-takers are a significant part everything. Ever since he was a young
comfort zones. Take risks but calcu- Business Risk is the exposure of business because, for a business to kid, he has been hustling up plenty of
lated risks. ideas that involved loving and learn-
an organization or a company has to prosper, there needs to be an influx
• Take risks. Take chances. factor(s) that will lower its profits or of new ideas and opportunities for ing from his calculated risks.
lead it to possibly fail. Anything that investments. By taking risks, busi- Final Thoughts
• Risk Taker Can Also Become the threatens a company’s ability to at- nessmen and entrepreneurs can try
Success Getter Make sure you are educated
tain its financial goals is considered a different strategies, assess the suc-
• Risk Taker Can Also Become the business risk. cess of those, and learn about market on the risks. There should be more
“dos” than “don’ts” on your list when
Achiever Factors are many that can con- trends to be more successful when properly taking a risk. To make this
verge for creating business risk. Some- the next idea is tried.
• Risk Taker Can Also Become the times it is the company’s manage- easier, make a list, writing down the
Trailblazer What is Calculated Risk? pros and cons, you are considering to
ment or top leadership that creates
• Risk Taker Can Also Become the circumstances, where a business may By effective planning, you can see which one outweighs the other.
You never truly know the risk’s
Groundbreaker be exposed to a greater degree of risk. prepare yourselves to navigate the outcome, but if you look into it
In order to achieve success and hazards that you encounter and
glory and grow as a person, you must Who Is a Risk Taker? choose which risk is the most logical deeply, you might be able to limit
the room for failure. Sure, there are
be willing to take risks. By pushing A Risk-taker is someone who and practical and intelligent one to things that will be out of your control,
yourself, you will get to learn new tries new things, the outcomes of take. but if you stagnate yourself based on
things, gain new skills, and develop which are largely unknown. A risk In other words, you need to be a fear of what might happen, you will
newer perspectives. It will be uncom- taker has the ability to make deci- smart and calculative about the risks never give yourself the chance to find
fortable and scary, but it is required. sions quickly and easily, understand- you take. out what could.
ing the value of innovation and cre- Setup dividing lines or boundar-
What is a Risk? ativity, being courageous or unafraid, ies within which you will operate and “You have to be comfortable
Risk involves uncertainty about tolerating loss, having heightened identify when those boundaries are being uncomfortable, you have to
the implications/effects of an activity expectations, and being comfortable drawing near. be willing to risk being different. Be-
cause Risk hai to Glory hai.”
with respect to something that hu- in the face of uncertainty. Folks in Set a time limit or money limit
mans value (such as business, health, risk-taking positions often include on the risk you are contemplating,
well-being, wealth, property or the people in leadership roles, CEOs or to ensure that you are remaining in The writer is a well-known
environment), often focusing on un- founders of an organization or busi- charge of your own ship. Astro Strategist and Business Astrologer
desirable, negative consequences. ness, and people in managerial posi- Above all, you will have to admit Email: [email protected]

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