Risky business

Experts reveal why taking chances matters for success

THE new year is a fitting time to push beyond your comfort zone, and doing so doesn’t need to be as daunting as you think. “A way to frame risk-taking is thinking of something as a goal and then evaluating the viability of that goal, as well as the pros, cons and likelihood of achieving that goal,” said Diane Rosen, Ed.D., JD, MBA, a career coach and a principal at Compass Consultants, based in Manhattan. “Calling something a goal rather than a risk can help people evaluate more thoughtfully and perhaps with less fear.”

For some, making any change can be a stressful gamble, while for others taking a giant leap can be thrilling. But wherever you fall on the risk spectrum, it’s worth the effort.

“Growth spurts and growing pains are part of the career maturation process,” said Yolanda M. Owens, career coach at the Muse and an author based in the Washington, DC, metro area. She said it’s necessary to take some risks “if you want to advance yourself and your career, because it’s far better to try and learn than do nothing and deal with the unknown.”

No risk, no reward

“If you look back at the biggest successes, chances are they all have one thing in common — risk,” said Kyle Elliott, MPA, Ed.D., a tech career coach in Santa Barbara, Calif.

The more risks you take, the bigger the reward. “Yes, there might have been some risks that didn’t pay off, but anything that’s worthwhile likely had risk attached to it,” he said.

However, “When it comes to your career, you want to go for strategic and intentional risks that move you toward your goals and dreams,” he added.

Risk might mean asking for a promotion or assignment, trying a new way to do things or introducing something to the team.

“In fact, I would argue that even the most risk-averse actually take risks in the normal course because they have to meet challenges, both substantive and interpersonal,” said Rosen.

These days, taking risks at the workplace may prove more fruitful than ever.

“In a rapidly changing world, professionals need to be in a constant state of reinvention to remain relevant in the market,” said Owens.

Put your head above the parapet

There’s a wide range of scenarios in which it makes sense to rise above your nerves and take a wager. One such case is to “create a sense of ownership and autonomy,” said Owens. That’s “whether it’s creating or spearheading a new idea or going against the status quo to explore new ways of doing something.”

When you want visibility, volunteer for that project nobody wants, if it puts eyes and ears on you and your ability to take one for the team.

That said, “The optics won’t be as glossy if you fail to bring your ‘A’ game and things go south,” offered Owens, so if you don’t think you can give something your all, it’s best not to step forward in the first place.

Another thing? “Having all eyes on you isn’t always as glamorous as it appears,” said Owens.

Another situation worth venturing outside your comfort zone is in learning and development. A new skill or expanding on an existing one could take your career up a notch.

It’s always worth it to speak up, too. “There is an old saying that ‘you don’t get what you don’t ask for’ so if the outcome is something that really matters to you, then it’s worth taking the gamble,” said Rosen. “For example, if you feel ready for a promotion and have the requisite qualifications, ask for it, because not asking for it may be interpreted as not wanting it.”

Be your own cheerleader

Along those lines, Elliott said one of the biggest mistakes professionals make in their careers is not advocating for themselves and their needs. “Whether it’s getting assigned to lead an exciting new initiative, or receiving a better title or a raise, self-advocacy nearly always pays off,” he said. “Even if you don’t ultimately get what you originally asked for, you’re able to mitigate the feelings of regret you would’ve had, had you not advocated for yourself.”

However, Rosen cautioned that “if you are in a highly structured or hierarchical situation, asking for a promotion outside a preset pathway may be fruitless.”

In this example, find out who to raise the issue to, when to speak about it and what points you can present to support your case.

Stack the odds in your favor

Experts say there are several things you can do to mitigate downsides before taking a risk. First, go in with a positive mental attitude.

“It’s human nature to focus on the worst-case scenario,” said Elliott. “Although preparing for the potential negative outcomes of taking a career risk can help you weigh all your options, be sure to think about the best-case scenario also.”

It may be helpful to reframe how you think about failure. “Understand and believe that there’s no such thing as failure; there’s only experience and learning. If you look at every situation like there’s no room for error, you’ll never advance,” said Owens.

Owens reminds clients that the reason they’re making the transition in the first place is that they are no longer feeling challenged. “So taking a risk with something new lends an opportunity to recalibrate and repurpose their skills in new ways so they can feel challenged and productive again.”

Steel yourself

There are times when you know in your heart you’ll be gutted if your risk doesn’t pay off at work. In those cases, Rosen suggested rethinking how to make that leap in a way that lets you tolerate the outcome. “Prepare yourself, plan, practice and go for it, knowing that there is more than one possible outcome,” said Rosen.

Make baby steps

Elliott said that rather than diving headfirst, consider: What is a step you can take, and then the next step, and then the next step after that?

“Risk-taking can feel more approachable when broken down into bite-size pieces,” he said.