Risk Management
Someone this week told me I was brave for starting my own business. It is true, it is brave to take a risk like this. Looking from the outside in it probably looks very risky to walk away from a steady job. What most people don’t see though is that you can be brave and take risks, while still being smart about it.
The first big risk I ever took was when I was 22 years old, and I decided to move to Ecuador. Instagram did not exist then but what people saw on my blog was me up and leaving the country. They didn’t see the 10-point plan I had created and shown to my parents explaining all the reasons why I thought they should support me making this move. They didn’t see me being a nanny for six months to save up the money to be able to do it. They didn’t see all the research I did to find the right country, the right Spanish school, and the right volunteer opportunities while I was there.
Outsiders only see the moves you make; they miss the planning behind the moves. This means that when you look and see the courageous things other people do, you need to remember that you are only seeing the risk, not the risk management.
The next big risk I took was when I was 32 and I left a job I had been doing for six years without any idea of what I would do next. People saw me quit; they didn’t see me waking up at 4 AM to teach children in China English so I could still pay my bills while I figured out my next move. When it comes to going after what you want in life, real risk management all comes down to two things: planning and humility. When I moved to Ecuador, it was planning that really made it happen. When I quit my job, I didn’t know what my plan was, and so humility is what kept me in the game.
My most recent big risk that I have taken is starting my own business. As of 5 o’clock this past Friday, WORKSHOPS BY KRISTEN is up and running. I have taken a big risk by doing this, but I have been planning this for a several months which means I’ve been able to pad my savings account to get me through the start-up phase. I have done research and calculations around how much I need to make and by what date so I know when it may be time to pivot. I’ve been slowly updating my website to prepare for the launch, doing a little bit after work every night so I was ready to go.
Anything worth doing in life will always have at least a little risk to it, the risk is what makes it great. But risk without research is just foolish. Successful risktakers are smart enough to make a plan and humble enough to do what it takes to stay in the game. My first two big risks I took turned out pretty good, I guess we’ll have to wait and see what happens with this one.
Let the games begin!
