Risk Management

Each one of us has likely taken a risk. From something as huge as moving across the country to start a new job, to something as small as driving through a yellow light. But how do we determine whether or not to take that risk? A lot of the time, the potential benefits outweigh the potential detriments. For some people, this is an easy process of checks and balances, but for those who have a tendency towards overthinking, it can be a tedious process. Here are four ways that can help you make the decision of whether or not to take the risk.

Talk it over

Find someone in your life who you trust to be a sounding board. Create a pros and cons list, and have the person give you feedback, pose questions and offer alternative perspectives. Try to find someone who does not have a personal interest in your decision, i.e. a friend who will miss you if you move, or a sibling who will tell you what to do. Play out all of the scenarios with this person.

The Coin Trick

An easy way to start the conversation is to assign a choice to the Heads or Tails side of a coin, then give that coin a good, old toss. What is your immediate, gut reaction when you see the result? Does the answer provide relief? Does it upset you? This can provide insight into your true feelings about the situation.

Don’t let fear take control

Fear is easy to give into, and the fear of the unknown is one of the biggest anti-motivators out there. Work through the potential problems that could arise, and realistically determine the likelihood of those problems occurring.

Trust your gut

Truly, you are the only one who can make the decision that lies ahead, no one else can make it for you. Others can offer insight, and talk about what they would do, but you are the one who ultimately has to make the decision. What does your intuition tell you? Does this risk feel right? If you have listened to your intuition in the past and things have one well, then you probably know what is right for you.

Unfortunately we cannot predict the future, but things might be a little easier if we could. We have to rely on good old logic, reason and self-exploration to help us assess risk. If you can’t figure it out on your own, there are professionals (like us) to help guide you. You are still strong and valuable if you ask for help. Also check out our blog post on dealing with our fear of change.

References:

Horowitz, E. (2013, March 1). Why Are People Bad at Evaluating Risks? Retrieved from

https://www.psychologytoday.com/us/blog/the-inertia-trap/201303/why-are-people-bad-evaluating-risks

Reynolds, M. (2019, January 6). How To Determine if a Risk is Worth Taking. Retrieved from

https://www.psychologytoday.com/us/blog/wander-woman/201901/how-determine-if-risk-is-worth-taking