How To Take Calculated Risks
Want to innovate at your company? Been feeling your company has just been stagnant for a while? Why not take the plunge and try that new idea you’ve been considering? Here’s how to take a risk, the smart way:
Build upon a strong vision
Why are you thinking of this idea? Just to be different? To make waves in your industry? That’s great, and you should continue to want to stand out. However, your idea will build a stronger foundation if it’s more than just a flashy project. What will the idea do for your company’s longer term vision and mission? Are you becoming more eco-friendly and thus contributing to your company’s mission of being socially and environmentally conscious? How can you make this idea an effective part of your brand?
But also, build in small pieces
Great, you’ve connected the idea to your bigger vision. Now, break it into pieces. Keep the end goal in mind, but work meticulously on the smaller steps it’ll take to get there. What’s a realistic timeline for it? How can you delegate and create short term milestones for the project? For example, maybe you can make it a goal to have segments of a project done each month or every two weeks, and have a good chunk of it finished by the end of the quarter?
Surround yourself with supportive team players
If your company isn’t already built on supportive people, you may need to reassess that. But in general, make sure that the team you’ve assembled to help you take this risk is supportive and also constructive. After all, every team needs it’s mix of idealists and realists. Who would be the best people in your office to tackle this task? Who deserves a chance at a new project?
Don’t let fear paralyze you
Sometimes companies remain stagnant because they enjoy their tried and true methods. But other times, companies are just afraid to break the mold and risk their steady success. This is totally understandable. However, if you’ve been feeling that your company has been lacking, you’re probably right. Trust your intuition, and let yourself take risks that relate to your company’s mission. Don’t let fear talk you out of it.