Risk/Reward

June 15, 2008

To innovate is to take the ultimate risk.  It has always been easier for a consumer to stick with something that they know and are familiar with than to switch to something new.  New products have to serve a need that is clear and self-evident.  You have to convince a few people that the benefits of using this new product far outweigh the comfort of using what they already know.  And its not easy.

As humans, we have been conditioned to avoid risk at all cost.  The less risk we take, the safer we will be.  That is why investing your money will never be as popular as savings accounts.  We want to know exaclty where are money is and know that it will always be there for us.  The problem is, most of us are not willing to take the type of controlled risks that we need to take to improve things in our life.

Risk is an important idea to think about, especially if you want to unleash the innovator within.  You could write a whole book on the theory of risk so I will not go into the specifics here.  The point is, we need to look at risk through new eyes.  Examine the possible rewards and see where risks make sense.  You don’t have to be a risky person to take on risk in your day to day life.  If you have an idea for something new, examine the possibilities and if the risk is worth the possible positive outcomes, don’t be afraid to go for it.

Some of the world’s great innovators have risked it all to change the way things are done.  They risk money, status, good name, family, and friends to realize their dreams.  Walt Disney, Steve Jobs, Henry Ford, and Sam Walton are some of the great business minds who took the ultimate risk to change the way entire industries work.  You don’t have to do that.  You just have to have the confidence to take small, controlled risks in order to achieve the kinds of things that you want to achieve.  Change the way you think about risk, it’s not your enemy.  It’s an open door to new possibilities…

Advertisements