3 risk approaches
What do you do when you face a storm?
* Cancel your trip and run to your sweet home.
* Find a shelter/anchor around and wait out the storm.
* Or run into the storm to face it.
Well, these are the 3 basic types of reactions that people choose. (Some of you may be wondering how the third option can be a valid option; more on that a bit later.)
These are 3 basic techniques to face the storm. These are also 3 ways in which we face problems or turbulent moments in our lives.
1. Safe Approach – In this technique, you don’t want to take any chances, so upon getting the indications of any issues or issues, you either step back or retreat into your protective comfort zone. It is the most common approach.
2. The mature: he does not postpone or cancel his plans when he receives signs of problems. You know, ‘this too shall pass’. All you’re ‘looking for’ is a suitable anchor to hold on to and continue doing the job you’ve already chosen. A select few people take this approach.
3. The urge of entrepreneurs- You want to get out of it real fast. You don’t even wait for it to pass with his own speed. So you run against it taking all possible risks so that you are out of it in much less time than others. This is a rare approach where the risks and rewards are very high.
These 3 techniques are suitable for 3 different types of circumstances.
If you have something to protect, if you own something of value that you don’t want to lose, then the secure approach is the most appropriate. Most of the time we want to protect our job, relationship or position in society. So we are not very willing to easily change our behavior pattern nor do we take big risks even after provocations.
Over time we all accumulate experience in one field or another. Once we master some field, we realize that most of the time the desired results can be achieved regardless of the prevailing circumstances, as long as we possess the necessary critical resources. This is an appropriate situation to take a mature approach and not be fazed by minor resistance.
When you don’t have much to lose, your drive to take greater risks and reap greater rewards increases. He wants to gamble and this seems to him a profitable business. At some point due to a sudden and unexpected loss, you are forced to take this approach by circumstance, not choice.
Many times, we take one of the 3 approaches repeatedly and this becomes our habit. We begin to follow that approach unconsciously and mechanically. Through such selection, we become typed persons. We become slaves to our own personality as a good artist becomes his own image and loses his charm.
Do you make a realistic risk assessment and decide your approach or do you do it out of habit?
If it’s habitual, compulsive selection, you’d better do something about it. Beware, old clothes are hard to die for.
