28 AUGUST 2024 WorldWide Drilling Resource® The Un-Comfort Zone II by Robert Evans Wilson, Jr. Creative Thinkers MUST be Comfortable with Risk Without risk, there is no opportunity I knew I wanted to be a writer as early as age eight. The interest grew into a passion over the next few years. I enjoyed the creative work so much that when I was in eleventh grade, I told my father for college I planned to take a course of study that would help me become a professional writer. He immediately shot it down by telling me writers never made any money. He then pressured me to find a profession instead. Since I was interested in psychology, I decided I would please my father by pursuing a career as a psychiatrist. Unfortunately, despite my interest in psychology, I had no passion for pursuing a clinical career. I wanted to be a writer. After a year of premed studies, I decided to take the risk and be true to myself. I changed my major to one which supported writing. As soon as I told Dad, he shamed me with these words: "That degree and a dime will get you a cup of coffee." Back then, a cup of coffee only cost a dime, so he was saying my choice - my dream - was worthless. Despite that, I continued on. It’s been a struggle; becoming a successful writer took many different paths. I worked lots of jobs to support my goal until I was eventually able to take the risky step of becoming self-employed at age 30. I've never regretted it because I love the freedom of being my own boss. And, I love being in a creative career that enables me to exercise my passion and purpose every day. In my speeches on creativity and innovation, I make the following description: "Creative people are flexible in their thinking even when they don't have to be. They willingly abandon the traditional ways of doing things and seek new directions. They are willing to take risks and break the rules in order to see their ideas come into fruition." In brief, they do not feel the need to conform; and in many ways, they are immune to social pressures. It's not that creative people are less risk averse than the average person, but they believe they will succeed. It's a self-confidence that pushes them to keep trying over and over again despite repeated failures. For some, it is a powerful desire they are looking to fulfill. Nevertheless, it is their unwavering - sometimes obsessive - determination which makes some people think they are mentally ill. But, it's just pessimists and people fearful of change talking. I've found innovators and creative thinkers are optimistic and maintain a positive mental attitude. I have started nine businesses, some of which were part-time endeavors intended to free me from a full-time job while allowing me more time to write. Every one of those businesses represented varying degrees of risk. Risk implies there is something to lose. I risked my money, time, and reputation. Of those that failed, I lost the time and spent the money; and with one I came close to losing friends by alienating them with multilevel marketing pitches. Risk management is a big concern for companies, which makes them hesitant to innovate. Before implementing a new idea, company management will look at the two functions of assessing risk - which are likelihood and severity. The two questions they will ask are: "How likely is a loss to occur?" and "How severe will the impact of a loss be?" If those factors appear to be manageable, then they will go ahead. Business risks a start-up may encounter are: 2 Competition - You risk losing business to companies offering similar services or products. 2 Credibility - You risk losing new customers/clients until you've developed a reputation. 2 Financial - You risk maintaining the necessary cash flow to stay in business. Perhaps your return on investment is lower or slower; or the cost of starting up is higher than expected. 2 Marketing - You risk not knowing or overestimating demand; or poorly communicating your unique selling proposition. 2 Technology - You risk interrupted business operations due to failing or incorrect technology. 2 Operations - You risk unexpected disruptions to normal business operations (like during COVID-19). 2 Regulatory - You risk failing to meet government safety or security standards. 2 Reputation - You risk customers losing trust on what you can deliver (perhaps because of an innovation which failed). Entrepreneurs and innovators are similar in many ways and, in particular, share the characteristic of being less risk averse than average. Like the innovator, an entrepreneur sees problems as opportunities. If they can solve the problem, then they can create customers and make money. They see the potential gain as worth taking the risk. I've found creativity enables me to be free - working for myself - and it is worth whatever risk I have to take. It's been my experience that being immersed in the creative process is the most fulfilling thing I can do. I'm motivated - even driven - to be in this state of mind as often as possible, even if it requires risk. If you want to be more creative, you will need to be at ease with risk. In previous articles, I offered several methods for getting more comfortable with risk. It is all about taking baby steps, and I suggest several low-consequence risks with which to begin, including: instead of drinking coffee every day, switch to tea for a week; instead of only listening to pop music, switch to country, jazz, or classical for a week; and read a magazine on a topic you know nothing about. Start small and work your way up to bigger risks. Once you start taking some risks, it's a great idea to record them in a journal. Later on when you are feeling risk averse, go back and reread about those times you took a risk to help fortify you in your next creative venture. Robert Robert is an innovation/change speaker, author, and consultant. He works with companies that want to be more competitive through innovation and with people who want to think more creatively. Contact him via e-mail to michele@worldwidedrillingresource.com
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