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Everyone talks about taking risks.
But how many are willing to take a risk and follow it through to its inevitable end?
How many, as my partner Roy would say, are willing to “pull the trigger and ride the bullet?”
Not many, from what I’ve experienced.
I’ve worked with small business owners who won’t trust their own instinct. The easy way out is to ask for advice from anyone who will listen (usually numbering in the dozens), then plead confusion. The result? Inaction at worst; mediocrity at best.
I’ve encountered small business owners (with marketing budgets that could afford to take a risk or two) who agree pull the trigger, and then freak out with doubts. They either try to do an about-face, or start brainstorming ideas in order to dilute the risk.
“Maybe we should only take on part of this project.”
“Let’s not do the entire promotion this time.”
“Let’s not give away such a big prize.”
“Let’s start small.”
“Let’s start slow.”
Have this happen a few times, and you end up with a company full of employees with tragically low morale and extremely high turnover. More often than not, the company itself does not survive in the long run.
At some point in your career – and in your life – you’re going to need to pull the trigger.
But before you do, remember this: you can’t pull the trigger halfway. Once that sucker leaves the barrel, it’s going somewhere. Momentum can be your friend or your foe.
When thinking about risk, always ask yourself the Two Most Important Questions every business owner needs to know.
Then, decide: can you not only pull the trigger, but ride it for all its worth? Because that’s what it’s going to take to survive this next era of small business ownership and have the firepower to pull away from the pack.
Michele Miller is a writer, speaker, and consultant on ways to capture the heart of the female customer. The co-author of The Soccer Mom Myth, she consults with businesses of all sizes across North America
My dad has a saying when it comes to product development, “there comes a time when you must shoot the engineer and move on.”
Great saying, Tom. That’s also a whole new way of pulling the trigger!
Tom, and the lawyers and the politicians, and the Wall Street Derivatives of Disaster Wonder Kids. Bang. Bang.
M. – Always useful to be reminded of the difference between leaders and followers.
I don’t know what is more gut wrenching, Pulling the trigger or crawling out of the ashes. Thank God for a short memory and a long time horizon – in the future.
Still the shame. Haunting. Ebb and flow.
Honestly Michele, the biggest question someone or biz should ask themselves before pulling the trigger is, “If all hell breaks loose do I have someone to break apart into?” (hint: if you can’t break apart into them, they will be a blood sucker if you DO make it)
The answers to the “1. Skill” and “2. Will” are guesses at best. (The exercise is still good – I think?) You never know for sure. That’s what risk is. Calculations only work in the rear view mirror. Or when the path ahead is strait as a Presbyterian.
PS. We’ve not only crawled out of the ashes. We’re standing Tall. Chin a tad lower. And our arms around a lot more people.
You’re doing great, Paul. You’ve taken on risk (a couple I know of) and you’re definitely a LEADER.
You’re right about the “Two Questions” being a good exercise. Actually, it’s a tool to prevent you from going off the deep end. If you can’t answer ‘yes’ to both, then you should stop RIGHT THERE. Even if you CAN answer ‘yes,’ risk is still risk. But at least you have a better foundation to stand on.
All the comments are great and your post, Michele, has great timing on many levels.
One question I’d add to Paul S’s list is “What’s your staying power?” In other word, what’s the financial and mental line in the sand you say “I can’t keep doing this.” Figure that out before you pull the trigger. Write it down. Tell your closest friends and colleagues. Then, pull the friggin trigger!
Great addition, Paul. Yes, definitely figure out your staying power – both in terms of financial AND emotional investment. Figure out how long you can keep doing this until your family says “enough already.”
I always forget something when I comment. Darn afterthoughts.
When you start wanting to chicken out after you’ve pulled the trigger, read what you wrote down – your staying power statement – to remind yourself what you said you’d bail.
Today I went to a seminar, where one of Swedens most famous woman was talking about how she became the business-woman she is today. The way she is describing herself is like she is riding the bullet all the time! And she sure is successful! http://www.rockofsweden.se
is one of her very successful projects, anotherone is
http://www.madeinsweden.se
It’s time for more bulletriding for even more success.
I am more and more impressed with Swedish business women every day. I will definitely give her websites a look – thanks for sharing, Barbro!
Wrong link ….should be http://www.rockbysweden.se
Good post Michele. The “staying power” idea by Paul is also helpful. Roy’s concept that great ideas follow commitment rather than commitment following great ideas is also powerful.
Thanks Chris. Your point is so true – and Roy’s concept is right on the money.
I try to take one a day:) Got to keep pushing, taking risks and daring. Good luck to all of us ladies. Let’s do it!