To Change or Take Risks-2

Here are some of the principles for dealing with change and taking risks. Change is not an obstacle but an opportunity:

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One, do your homework—collect the available information and analyze it. Notice I said “available information.” No one will ever take a step if we wait for all the information to come in. It never does. Waiting for all the market studies,... waiting for all the reports,... waiting for all the numbers,... is simply delayed decision-making. The risk-taker uses the numbers that are available,... analyzes them,... and then acts.

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Two, recognize that inaction in staying with the status quo can be as risky as action in trying something new. Maintaining the status quo can be a costly mistake.

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Three, take action. You may find that you can’t get all the sign-offs you need before the opportunity has passed. You may find that the market has moved on before the research has been completed. But if you’ve collected the available information and weighed the risk of the status quo against the change, act.

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Four, admit mistakes. This is not contradictory to what I just said. Taking risks doesn’t always result in profit. Never mind that. Admitting mistakes has to be a way of life as much as risk-taking. Admitting mistakes and then going to work to reverse them is a natural part of risk-taking..

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Today’s environment—as fast-changing as it is—requires risk-taking. Companies large and small, new and old—have to risk to grow. Businesses do not win by letting marketing research studies, short-term profit reports, and fearful employees dictate the future..

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Yes, it takes courage to change, to risk. Taking risks means moving forward while others are waiting for better times. Taking risks means moving forward while others are waiting for proven results. Taking risks means moving forward while others are waiting for applause on their past performance..

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