3 Tactics You Can Use to Take Better Risks

0
223

How would it feel living your life like James Bond, calmly assessing risk in the face of danger and making INCREDIBLE rapid-fire decisions in the kinds of situations that would cause any other person to buckle under the pressure. If you’ve ever wanted to cruise through life changing
decisions, cool calculated and collected, then read on.

It’s rare to find people who are bold risk-takers. As people, we’re pre-conditioned to avoid risky decisions whenever we can…and because that’s most of the time, when we’re forced to do something risky, we’re unprepared and fail to strategize properly. Thankfully, there’s risk engineering. To properly risk engineer, it’s best to start small and ramp up, so we can deal with bigger issues when they arise.

Why are risks so uncomfortable?

Probably, because we don’t have a clue how things would go and uncertainty rattles the human brain. We also worry because our minds go straight to assuming the worst. Unknowns don’t have to be a bad thing. But when your mind is constantly running and processing the negative outcomes, it’s much likely to make a mistake. The in-experienced constantly encounter this issue – that is when they face an unknown they assume the worst outcome and react like this their new reality. Taking risks requires practice. Building up your self-confidence so you’re
comfortable with you own decision making abilities requires time. The more
you take risks, the better you feel about them and the better your odds of a favorable outcome. Your best bet is to pick a small, easy to remember technique and stick to it. Try one tactic and don’t move on to another one until you’ve completed and received the best outcome you can.

Here are 3 tactics to get you started with taking better risks right now.

1. Avoid Putting Everything on the Line

Smart risk takers don’t “Risk it All.” Yes, every now and again, you’ll find there are a special few who don’t diversify their risk portfolio but MOST of these people have some form of insurance policy in play. When you set aside cash to gamble in a game of cards, no matter how good your poker face is, if you’re smart you take calculated risks. The only time you would go “all in” is when you’re absolutely sure you have a winning hand. The rest of the time?

You play conservatively. Scraping by on the minimum number of chips needed to keep your competitive edge. It’s the same strategy you should apply to business and financial opportunities. There’s always something bigger and newer like a promotion in a new city, a passion project or high-reward investment but you can’t take advantage of any of these when they come up if you’ve stretched your finances too thin. Take smart risks and maintain a modest lifestyle that allows you financial leeway. Living affordably does not mean spending most of your income soon you get paid. That’s simply not a long-term strategy for building wealth. You want to live below your income level and never put all your money or effort into just one venture. The stakes are too high and any loss could mean financial ruin.

2. Don’t Let Others Think for You

There’ll always be someone who’s offering you unsolicited advice regardless of where you are or what you’re looking to go into. Beware of alarmist language that encourage aversion to risks. Salesmen will always try to sell you additional insurance on an investment – which means more costs. Whether it’s insurance on an already expensive rental car or on some new mattresses you
just purchased. It could also be a roofing contractor trying to convince you to buy an additional sealant or waterproofing that you know you probably won’t ever need. Some insurance policies are useful, but be careful that your environment does not train you to become risk-averse. No risk, no reward. Whenever possible, think for yourself. No one will ever be more motivated than YOU, to make sure you’re financially successful.

3. Take One Risk at a Time

If you want to invest in every new opportunity that comes your way, then you likely haven’t learned things the hard way. One of the best rules of thumb, especially when you want to take smarter risks is to go big when justified, but never overboard. Keep it simple and do things in moderation, especially when you’re just starting a new venture. Pouring your resources into many different plans may seem like a good way to reduce your overall risk, but in actual fact it every diverted dollar makes you more likely to fail. Choosing one risk at a time, putting best efforts toward it, and throwing all you got at it, is the most viable strategy for long-term success.
If you’d like to learn more on how to take the right kinds of risks, then Click on this Link to get your FREE Right Risks Masterclass courtesy of Psychology Hacker’s CEO, Adam Lyons. On that page, Adam breaks down exactly what you need to do to make sure that you’re taking the right kind of risks in life. Not only that, he also makes his other six masterclasses available to you COMPLETELY FREE. These masterclasses are designed to help you achieve the success you’ve always deserved in life. So, don’t miss out, click the link below to get your Free Psychology Hacker Masterclasses today.

Click Here For Your 7 Free Psychology Hacker Masterclasses!

Let Us Know What You Think