Going into business is a calculated risk. So is moving to a new city for a new job, applying for a position outside of your comfort zone, or asking for a raise you believe you deserve. Whether you’re an entrepreneur, or a professional working for someone else, taking risks is important.  

In this issue of the Pulse, we look at risk-taking in your career, and why it’s critical for your career development.  

Opportunities for growth. 

Canadian writer and motivational speaker Robin Sharma once said, “If you’re not failing a lot, then you’re not doing very much.” 

Taking risks may sometimes lead to failures and mistakes, but it also opens new opportunities for professional and personal growth. Any time we do something that puts us outside of our comfort zone, we open ourselves up to acquiring new skills and valuable learning experiences.  

Stimulating innovation and creativity.  

Risks often involve trying new things, using new methods, considering new perspectives, and thinking outside the box. This can lead to breakthroughs that inspire innovation and creativity. New approaches not only develop your own existing skillsets but could also lead to wins on professional projects.  

For example, trying a new sales pitch may not only show you an alternative path forward to success, but can also offer valuable insights into what works with your prospects.  

Increasing your professional visibility.  

You’ve heard the expression, “fortune favors the bold?” Well, that’s because boldness and taking risks can get you noticed, where others may fly under the radar.  

Taking risks can help you get noticed by others in your industry or organization. When you take on challenging projects or roles, you increase the likelihood of gaining visibility and recognition for your work, which can lead to increased opportunities, networking, and career advancement. 

Avoiding career regret.  

No one likes being left with a heap of “what ifs”. We often regret the risks we didn’t take more than the ones we did. By taking calculated risks, you are giving yourself a chance to pursue your goals and aspirations, and you are less likely to wonder later in life what could have happened if you had taken that chance. 

In conclusion… 

There will always be risks in your professional career – some worth taking, some not. However, don’t resign yourself to never taking any calculated risks. There are lots of reasons why a well-planned risk could be in your favor.