Ted Hickman

Why Is It Important to Take Risks?



Do you know the distinction between taking risks and gambling? Have you ever done one or another activity, or maybe both? We will deal with the two phrases in this specific article in an attempt to get them closer to you because you will run into them much more often than you think.

Did you ever take a risk?

‘Every single person has taken a risk at some point in their life. Nobody can avoid it as much as they would try. This is because humans are forced into risks. As babies, we learn to walk and hence take a risk of falling’ said John Pentin betting expert at UK betting tips portal bettingtips4you. We thus get out of our comfort zone and fall a thousand times before finally becoming able to make regular steps. Just because we consider it a “normal procedure in growth”, learning how to walk is not essentially different from some other common risks.

How to prepare yourself for a risk?

Driving a car is a perfect example of a big risk a vast majority of people take every day. As soon as you enter the car and start the engine, you are taking a risk of an accident. People lose their lives regularly in car accidents.

However, what you can do is limit the downside of a risk you have decided to take. In this example, you will get insurance on your car and your health, you will make sure to take the car to the mechanics and have it in good shape, you will not drink before driving, you will not get behind the wheel on very bad weather, etc.

This means that you can manage your risk and approach it thoughtfully. If you do so, you will get yourself in a much better position and you will get closer to a positive outcome of your risk. In this case, if you have done everything right before getting behind the wheel, you will significantly reduce the chance of getting involved in a car accident.

What if I don’t want to take risks?

We will stick to the same example because it can easily help you understand the significance of the risk. Imagine the limitations you would have if you refuse to take the risk of driving a car (or simply using any transport vehicle because accidents can happen everywhere). You would need to go everywhere on foot. You would not be able to visit your relatives or friends in other cities. You would never see any place outside your city/town.

No person would accept such a deal, right? This is because we take driving a car as a regular activity that is done by everyone. It means that every single person in the world is ready to take the risk to get a benefit (everything mentioned above, and more). 

Step out of your comfort zone and grow

The car example can be applied to pretty much every business niche in the world. If you do your homework and get the preparation right, the execution will be piece of cake. Just think of the ultimate goal and the place you want to see your business at. Is it worth taking that risk? What will be the worst-case scenario?

Remember, in the car example the worst-case scenario is your death. Again, car accidents can happen to anyone, and yet we all drive. In business, the worst-case scenario is far better. Nevertheless, we are afraid to take a risk and get that new business going.

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