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Have a Strategy? Take Risks!

Chakravarthy Tenneti
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Ideate. Invent. Innovate. Who would not want to be the harbinger of the next big change and win accolades? It is not just about big innovations or discoveries.

While all of us want to change and look forward to a better future, it is often the fear of change that prevents us from taking risks.

However, there are ways in which you can get creative, take calculated risks and herald changes in your work life.

Understand the significance of risk-consequence cycle

Like you do a SWOT (strength, weakness, opportunities, and threats) analysis for major situations, to do a risk-consequence analysis. The best approach is to list all the possible decisions and their results so that you will get clarity on the risks and liabilities. Make it a point to map these results with the expectations. Where there is no link between the risk and the desired result, you must identify the limiting constraints. Thus, you can get a picture of the various ways in which things can go wrong and mark the risky zones.

Get new points of view

Talk to people who are not aware of the risk, or with people completely unrelated to your sphere of work. Do this in addition to talking to people who might get impacted after you take the risk. This exercise will help you get different perspectives. In addition to gathering new points of view, you also need to brainstorm with key people and try and come up with new or different ideas to solve any conflicting situations.

Arrange for a discussion and communicate the details of the risk as a problem to all the members and let them come up with new ideas. Once everyone shares an idea, make it a point to discuss all of them.

Bend the rules

If in a bid to be creative you have to bend some rules, then so be it. Find new rules without flouting company policy. Often, the rigidity with which we follow rules impedes our ability to take risks or be creative.

If you need to modify the rules then do so. Explore the various available options and you will definitely hit upon a new method to get the work done.

Take a break

More often, it is the fear of the consequences that weighs on our mind. This fear prevents us from thinking out of the box.

You need to take a break and divert your attention to a completely unrelated concept or situation. Get a respite to regain your energy while dealing with the situation and replenish your creativity.

Learn from your mistakes

While you may not be ready to take the big risk as yet, you can at least begin by taking smaller risks.

Learn from every mistake you make. Though clichéd, it is true that you need to fall often to learn the art of walking perfectly. Hence, take risks, make mistakes and encourage your team to do so too. Break free from the comfort zone that prevents you and them from taking risks. Develop the maturity to accept and learn from your mistakes. It will make the risk worth taking.

Chakravarthy Tenneti

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