When one talks about risk, the mind channels your thought to either of these concepts; LIFE or BUSINESS. In reality, both concepts are firmly intertwined, fined knitted into a whole. This is one fact; life itself is business. Living life requires one to carry out series of activities which tends to be responsible for future outcomes not only for that person but in some cases for others around such persons. The way a father lived as a boy would determine the fate of the children. It is simple; your actions now, are your investments or capital and the outcome of your actions are your returns (profit or loss) as the case may be. So you see that LIFE is business. The way one manages his/her life is evident in the outcome. Same with business! This simply implies that everybody living on this planet is a business person. We only have expert business people and terrible business people.
Having established the fact that life is business and business is life, I proceed to say; Risk is an essential path of business. It is the determining factor that distinguish the kings from the rest.Nature always has her way of selecting the seeds from the shafts! Risk is the tool nature uses to select the seeds from the shaft in business and life in general. The mastery of risk place you in the control seat of your business. If you are reading this, you definitely are on the path to being the seeds in the world of business.
Risk is a possibility of running into loss of valuable resources or even profit. That’s a fair enough definition I guess! We all know what risk is. But the funny thing about risk is this; even in the presence of possible loss, there is an enticing prospect of gain too! To complicate issues, it seems like the greater the risk, the greater the gain! The enticing possibility of huge gain attached to taking a risk makes few rugged and brave people indulge in taking risk. On the other hand, the fear of possible loss hinders many people from taking risk at all. Truth be told, you need to take risk for your business to grow and for you to be able to take risk, you must be a master at it.
Below are simple steps to RISK MASTERY
2. Eliminate Risk intensifiers
3.Prepare for the WORSE