Taking Calculated Risks

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Taking Calculated Risks

Calculated risks are all about weighing up the pros and cons and deciding if the risks are worth it. It is a question of can you afford the risks, or are you prepared to accept the consequences or loss that might occur. Are the benefits worth it? It’s a case of how you view the various outcomes, whether you enjoy an element of excitement or if you prefer a calmer existence.

Luck doesn’t really come into the equation but people will say, how lucky you are if you make a good decision, but luck is a toss of a coin, a random event. We are not talking about doing the lottery; where, because of the millions buying tickets it is highly unlikely you will win; however people do win, in fact a friend of mine won a tidy amount, but the odds are very much against you.

I am talking about real events, or situations where you have the opportunity to change the way you do something. It may be a small change or something bigger like changing jobs, a choice of two offers, a career change or moving house etc.

You might be fed up commuting to work and fancy working at home. In this instance some serious thought and investigation would be needed. Make a list of the advantages and disadvantages as you see them. Do some extensive research and maybe you could consider beginning part-time, there are a number of hobby businesses you could begin.

Can you afford the initial outlay, or any loss you may incur; do you have the right mentality? Do you enjoy learning new things? Can you fit the time required into your current schedule? How long will it take to learn the new skills in question? Will you really enjoy the new way of life you are contemplating?

Consider these and any other points that come to mind, evaluate the risks plus could you make it work for you. Visualize you new way of life and see if you like the “picture”.

Many people are always considering working at home, or building an extra income. In fact millions of people type similar questions into Google every day, but a comparatively small number actually do it. The main priority is to research your proposition fully and work out the calculated risks before you make a decision. Paul McKenna in his book “I Can Make You Smarter” offers advice on making good decisions.

There are many businesses that can be started online, but affiliate marketing is my favourite and probably the simplest because with a good mentor to providing excellent products and training, you are able to earn as you learn. You also have some support and join a community of like-minded entrepreneurs.

So wishing you well in your decisions here are some books you could find useful:

“Feel the Fear and Do It Anyway” by Susan Jeffers.

“Thank God it’s Monday” by Charles Cameron and Suzanne Elusor, a book to offer strategies for making life more tolerable whilst you make changes.

“Change your life in 7 days” by Paul McKenna

“I can make you Smarter” by Paul McKenna

“Laptop Millionaire” by Mark Anastasi.

“Building an Online Cash Cow” by Anthony Barlow.