How to take risks

As an educational leader, former elementary and middle school principal, and entrepreneur, I have had many interactions with leaders in many different industries. I can recall my early years as a classroom teacher when I would take notes on the biographies of various leaders. What fascinated me was the variety of pathways to leadership. There was not just one way.

The best leadership advice I ever received really represents what I saw in those leaders many years ago: Don’t be afraid to take risks. What I didn’t realize then but live by now is that risk-taking is essential in leadership. Taking risks involves moving forward despite fear and/or uncertainty. Until you experience discomfort, real growth and development do not exist. Realizing that failure leads to success when you learn from those mistakes will allow you to take risks more often.

I use a five-step process to assist leaders in becoming risk-takers.

Step 1: ‘Fire Bullets, Then Cannonballs’

In their book Great By Choice, Jim Collins and Morten T. Hansen talk about the concept of firing bullets, then cannonballs. The bullets represent low-cost, low-risk and low-distraction items. Cannonballs represent the much larger risks.

I would never advise someone to go straight for a major risk. You should start with small risks before moving on to larger risks with greater consequences. You need to be aware of your risk-tolerance level and follow your instincts, not overthinking the situation.

Step 2: Act, Assess And Adjust

After implementation, you must evaluate your risk’s effectiveness and make changes accordingly.

A team of researchers and practitioners from the Harvard Graduate School of Education and Boston Public Schools developed the “Data Wise Improvement Process” for organizing the core work of schools. The last of the 8-step process is “act and assess.” It involves asking, “Are we all on the same page? Are we doing what we said we’d do? Are our students learning more? Where do we go from here?”

This process, although designed for education, has assisted me not only in my educational leadership journey but in my entrepreneurial journey as well.

Step 3: Go Ahead, Fail!

Failure is an opportunity for growth. Many are afraid to take risks simply because they are afraid to fail. Failure should be an option. As long as you are learning from your mistakes, you are experiencing growth. Failure is simply a stepping stone to your success. Again, the caveat is you must learn from the failed event. When you are unafraid to fail, you are more apt to take risks.

Step 4: ‘Be Open To Everything And Attached To Nothing’

In George C. Fraser’s book, Click: Ten Truths for Building Extraordinary Relationships, o ne of those truths is to “be open to everything and attached to nothing, the best idea wins.”

Often, our preconceived notions about things hinder our risk-taking ability. This truth lends itself to becoming a risk-taker. When you are not sold on a particular idea, you are able to try different ideas more readily. Your way of thinking or doing things may shift if you have an open mind. While consistency is certainly a characteristic of an effective leader, remaining “consistently consistent” may cause you to become complacent.

Step 5: Be Authentic

The path to authenticity requires risk-taking. In the article “Risk-Taking for Success,” Cheryl Mastroeni-Thacker asserts that growth-producing risks may fall into one of three categories: self-improvement risks, commitment risks or self-disclosure risks. It is in the self-disclosure risks that authenticity is found. When you show up as who you are, vulnerability is present. When vulnerability is present, trust is present. When trust is present, you are not afraid to fail, therefore, taking risks will be a part of what you do as leader.

Do you find your yourself taking risks or playing it safe? Taking risks is necessary for success. Moving into an area of discomfort allows you to grow. You will not come out on top every time, but that’s where the magic happens. Through the uncertainty and the unpredictable, you make things happen rather than wait for things to happen. You will either win or learn. There is no loss in learning.

Knowing which risks to take, and how to take them, can be extremely helpful in stacking the odds in your favor.

Looking 13,000 feet down out of an airplane, parachute pack secured, your heart beating in your throat, must be one of the most terrifying experiences imaginable. Though not all risks are life-threatening, all risks are frightening. As humans, we’re constantly afraid of failure, of doing something wrong and of having to deal with the consequences. Yet, at the same time, there is nothing more rewarding than reaping the benefits of a risk gone right — of landing safely ground, to build the earlier metaphor.

For entrepreneurs, risk taking is a necessity of the job. After all, we’re never quite positive that things are going to work out the way we envision. We make choices daily which affect our business, and we can never be absolutely sure that we’re making the right ones.

Knowing which risks to take, and how to take them, can be extremely helpful in stacking the odds in your favor. While risks are unavoidable, approaching them strategically can be the best way to decrease your parachute’s chances of failing, so to speak, and to produce measurable results that you would never have achieved had you avoided the risk in the first place.

In order to hone your risk-taking skills, here are some guidelines:

1. Information is your friend.

The more knowledge you have about any given topic, the less risky your endeavors will ultimately be. For example, many of the most steadily successful brokers on Wall Street are those who understand the patterns of the market better than anyone else. While there are always going to be those people who make millions off a risky uninformed bet, they are the same people who most likely will lose all their earnings on a single trade. Traders who build a sustainable career for themselves are the ones that have deep knowledge of the industry.

Similarly, you should be an expert in your field. You should know your industry well — your product or service you are providing. You should understand the buying patterns of consumers, their motivation and pain points. What drives them to buy your products? Where and when do they buy? What makes them stop buying?

As an entrepreneur — or in any profession that requires risks, really — you’ll want to have as much information as possible. The more you know, the fewer unknowns there are. The unknowns, ultimately, are what makes an action risky.

2. Assess the risk carefully.

While risk is a reality of life, there is also something to be said for strong assessment skills. Being able to look at a risky situation and decide whether or not it’s worth taking is a hallmark of a good businessperson.

Venture capital investors, for example, spend their entire careers deciding which companies are worth risking time and money on. Those who throw their money around recklessly, while admirable for their risk-taking, are not necessarily the most successful investors.

Being a good risk-taker involves using the information you have to assess a situation and decide whether or not the risk is worth it.

3. Learn from failure.

Appreciate that all risks are learning experiences. Especially those that don’t pan out.

On some accounts, failure is actually more valuable than success. While failures may not lead to an increase in your bottom line, you can use the opportunity to glean important information about what you’ve done wrong, where you misstepped and how you can move forward in the future.

The biggest mistake many people make is seeing failure as a measure of who they are, rather than a measure of where they can go. We’ve all heard that failure is feedback. Most successful entrepreneurs failed at many ventures before they created that million-dollar offering. Most overnight successes took many years to make. If you take a risk and fail, learn from it. Ask yourself what you can do differently next time, and then move on. The only failure is not learning the lesson that it provides and using it to hone your next endeavor.

According to Mark Zuckerberg, “The biggest risk is not taking any risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”

Taking risks is the only way to go from here to there. Even failed risks move you closer to your goals if you can turn that failure into valuable learning and a plan for improve your results next time.

Taking risks doesn’t mean succeeding every time, and that’s OK! Taking risks can lead to failure which in turn can help you grow as a person.

Many of life’s greatest achievements require going outside of your comfort zone. Whether it means overcoming shyness to perform onstage, investing money to help your business grow, or putting yourself out there for the chance to find love, some of life’s most rewarding experiences come as a result of taking risks.

However, many of us have a difficult time dealing with the uncertainty that goes along with taking risks. A feeling of unease grows out of not knowing the outcome and the fear of potential failure. What if I embarrass myself in front of everyone? What if I lose all the money that I invested? What if I open my heart and get rejected? What if I’m not good enough?

Answer that with another “what if”: what if the point of taking risks isn’t the outcome, but the process in and of itself. Through taking risks, we must confront our own fears, and sometimes that leads to failure… But what if that wasn’t such a bad thing after all?

The Key to Succeed? Learn to Fail

“The master has failed more times than the beginner has even tried.” — Stephen McCranie

Many may have a negative view of failure, but actually, it can provide an essential tool for building character. Failure makes us stronger and more resilient. People who fail repeatedly develop persistence in the face of difficulties.

Look at the 16th President of the United States, Abraham Lincoln, who lost eight elections, failed twice in business, and suffered a nervous breakdown all before becoming one of the greatest American presidents. Through failure, he developed the persistence necessary to later lead his country through one of its hardest periods in history. Perhaps he never could have done so without experiencing so many failures himself.

What does that tell us? Taking risks doesn’t mean succeeding every time, and that’s ok! The process of taking risks may lead to failure, but even that can make us a better person by increasing the capacity to recover quickly from difficulties.

The One Thing Risk-Takers Have in Common? Overconfidence

Failure might turn us into better people, but that doesn’t make it any less difficult to take risks. It turns out that building confidence can help in overcoming the fear of risk-taking.

Entrepreneurs must go up against tremendous odds to build a successful business. That means taking big risks without knowing the outcome. What makes them do this? Confidence, and a lot of it. In a study, Ohio State University management professor Jay Barney, Ph.D., and Lowell Busenitz, Ph.D., of the University of Houston, asked 124 successful entrepreneurs and 95 top managers to answer a round of questions and rate how sure they felt about their responses. While both groups demonstrated confidence, the results proved that the entrepreneurs had an exceptionally high level of confidence.

Learn to Overcome Your Fears

Luckily, confidence is a learnable skill. Erika Casriel describes in her book, Living Fully with Shyness and Social Anxiety, “The reality is that most socially confident people deliberately learn specific skills.” That means, through practice, we can develop better confidence, equipping us with the right skills to take risks.

Even someone as seemingly outgoing as comedian Will Ferrell once considered himself painfully shy and claims he had to work very hard to overcome his lack of confidence. To do so, he would do idiotic things in public so that people would laugh at him. He told People Magazine,” In college, I would push an overhead projector across campus with my pants just low enough to show my butt. Then my friend would incite the crowd to be like, ‘Look at that idiot!’ That’s how I got over being shy.”

What does this tell us about taking risks? When we feel shy or afraid of something, we can take action to build more confidence. Instead of accepting himself as a shy person, Ferrell had the courage to overcome his fears by facing them. In doing so, he felt more confident outside of his comfort zone.

The Cycle of Success

The takeaway? Taking a risk to achieve a goal requires courage to face the fear of uncertainty. No matter the outcome, either way, we grow through the process and become more resilient and confident. Better yet, building those skills helps in taking more risks and improves the chances of achieving future goals.

Risk equals reward. And the bigger the risk taken, the bigger the chance for a larger payout. Steven LeVine offers 4 ways to take smarter, better risks — and succeed faster.

As entrepreneurs, we’re used to being questioned about everything we do. Perhaps it’s one reason we became entrepreneurs in the first place — to prove that we’re better off doing whatever everyone else thinks we shouldn’t. In fact, you could argue that being an entrepreneur is less about building a business and making money, and more about having the power to shape your own destiny.

Speaking from my own experience, when I left my first job to start my PR company right out of college, my friends asked me if what I was doing was right. And when I moved across the country to Los Angeles at 25, my parents asked me why I was doing it. And when I began taking flying lessons, my grandmother asked me if it was a good idea. All of these, despite everyone else implying they were not good ideas, have become the best things I have ever done in my life.

Risk equals reward. And the bigger the risk taken, the bigger the chance for a larger payout. When Christopher Columbus risked his life and that of many others to complete his first voyage across the sea to the unknown, his journey led to a great wealth of knowledge and commerce for Europe. When Soviet Cosmonaut Yuri Gagarin traveled to outer space, he opened up a whole new age in space travel and exploration for the rest of the world. And when Mark Zuckerberg started Facebook, he launched a new era in the way we communicate with one another.

They all took enormous risks, and many questioned their decisions. But each time, the reward was huge.

Of course, risk-taking is only as good as the amount of planning and thought put into taking it. Blind risk-taking is never a good idea. Here are four ways to get over that fear, and take risks the “right” way:

Many of today’s entrepreneur’s and business leaders will tell you that one of the ways to become successful is to take big risks. Business leaders take risks every day when making decisions. They have to introduce new products to an uncertain market, find new ways to outshine competitors, and make daring decisions that pay off very well. How can you become a grade A risk-taker? Here are some handy tips.

“I t’s not because things are difficult that we dare not venture. It’s because we dare not venture that they are difficult.” — Seneca

How to take risks

1. Do y o ur homework first. Taking a risk isn’t exactly the same as taking a blind leap of faith into the abyss. Every good risk is preceded by the necessary amount of diligent research. You should examine all your options and find out the risks and rewards associated with your decision before you make it. What could possibly go wrong? What are the worst things that could happen if you fail?

2. Be prepared for failure. Nobody wants to fail, but it is something that sometimes feels inevitable. After all, the Silicon Valley model is “fail fast, fail often.” If you do fail, will it totally cost you your business and leave you bankrupt? Or perhaps you will only lose a few weeks of time. Make sure you know the consequences of what will happen if you fail. You should also make sure that you have some sort of safety net to fall back upon.

3. Learn to face your fears. You should never do a head dive into something you are totally scared of. However, there is another way of getting over your fears. Perhaps you fear talking to new people or trying a new marketing strategy. The best way to get over such a fear is by facing it a little at each time. This is called exposure therapy, a means of facing your fears by slowly exposing to them a little at a time. If you fear talking to new people, start off slowly and start small conversations with strangers. If you fear a new marketing strategy, test it on a micro level and slowly scale upwards.

4. Don’t be a perfectionist. Just because you can’t pull it off perfectly doesn’t mean that you shouldn’t do your best. Plans are hardly ever executed as they were intended to, but that doesn’t mean those plans are always unsuccessful. The fear of not doing something good enough is what keeps many people from taking risks at all.

“I am always doing that which I cannot do, in order that I may learn how to do it.” — Pablo Picasso

How to take risks

5. Ask yourself what will happen if you don’t take a risk at all. What happens if you don’t do anything and just stay still? What will happen if you decide to play it safe rather than being bold? What will the consequences be? For example, if you never went for your Bachelor’s degree in college, you might be stuck with a high school diploma flipping burgers for the rest of your life. If your company does not try marketing in a new industry, your competitors might overtake you.

6. See your failures as an opportunity to learn something new. Even the greatest of us make mistakes. After all, Thomas Edison failed a thousand times before me successfully made a single light bulb. Just see your mistakes as something to learn from and know that your future endeavors will be improved because of it.

“O nly those who will risk going too far can possibly find out how far it is possible to go.” — T.S. Eliot

How to take risks

These items are by no means a comprehensive way of making sure that you are ready to take risks in both your business and personal life. However, these will serve as stepping stones for you to become less risk adverse and make the decisions you need to make. These items are by no means a comprehensive way of making sure that you are ready to take risks in both your business and personal life. However, these will serve as stepping stones for you to become less risk adverse and make the decisions you need to make.

Ciro Campagnoli ️

Venture Capital Seed investor Leader @BeniVC | CEO @ Beni Usa Inc, adding Value through Real Estate | Hospitality Champion @thelocalhouse

Welcome to Risk Month at Apartment Therapy. For the month of October, we’ll look at what risk means in the context of home—whether it’s taking a big design risk when creating your home, dealing with the inherent risks that are associated with owning a home, or anything that involves putting yourself out there without knowing what awaits on the other side. Check out all of our Risk Month content here.

When someone encourages you to take a risk, it’s easy to instantly imagine bungee jumping or diving with great white sharks. In reality, though, taking a risk can be as simple as cooking something brand new for dinner, or taking up a new hobby out of the blue.

Sure, taking a risk can sometimes mean something traditionally scary or anxiety-inducing (public speaking, anyone?), but it doesn’t have to. And reframing how you view and define risks is actually the first step to taking more risks in your day-to-day life.

And taking more risks? It’s really good for you.

Why is it important to take risks in life?

As the Huffington Post reported, risk-taking not only exposes you to dozens of positive outcomes you never would have experienced before, but it also boosts your confidence, and helps you let go of the fear of failing. If you’ve ever started a new career, asked someone out on a date, or tried out for a sports team, then you probably know all too well that fear of failure is almost always the thing that holds us back from doing something. 

So if there’s a way to get used to risk-taking, and to prime yourself for being able and willing to take on bigger and bigger risks, then it only benefits you to start getting used to the process ASAP, little by little. Lucky for all of us, a new month means new opportunities for change. This month, why not use those fresh starts to take some risks? How about 31 risks, to be exact?

Whether you want to be more bold in your home design choices or finally work up the guts to bake a cake from scratch (hey, it can be pretty intimidating), here are 31 risks for the 31 days of October. 

Oct. 1: Wear the item in your closet that you never, ever wear. 

Sure, this seems small, but it will force you to finally wear that thing in your closet that you never wear (come on, you know the one). It will also force you to finally donate or sell said item if you just can’t bring yourself to wear it at all. 

Oct. 2: Take a brand-new workout class. 

If you’re used to spinning, try yoga. If you’re used to yoga, try spinning. If you’ve done it all, try something a little weirder, like an aerial yoga class or underwater spin class. 

Oct. 3: Send fan mail. 

OK, this one might seem a little weird if you’re no longer a teenager, but seriously, try it out. Think of someone who inspires you and actually take the deliberate time out of your day to tell them why. You might be surprised how inspired you feel after. 

Taking risks is how you learn new skills. You might have come across this statement several times and yes you might have to be in an argument with several people who brag about what you need to take certain risks in life if you want to learn new things. So today let’s discuss this topic in detail and draw a conclusion, that does you really need to take risks in order to learn new things, which even includes learning new skills.

How to take risks

What is Risk?

So before moving towards drawing a conclusion, let us look at what risk is. Wikipedia defines risk as:

“A risk is not an uncertainty (where neither the probability nor the mode of occurrence is known), a peril (cause of loss), or a hazard (something that makes the occurrence of a peril more likely or more severe). Securities trading: The probability of a loss or drop in value.”

One thing is evident from the above definition that ever in your life you want to achieve something, for that something you just have to take a leap of faith which means that having faith in yourself that you can achieve something. But risks don’t always have to be blindly trusting and all. There is something also known as calculated risk.

So what is a Calculated Risk?

“A calculated risk is something that for which thing you are taking it, you have a little knowledge or set of skills that can turn your risks into something you want”

Let’s take an example of gamblers, gamblers that you can find in casinos and some casino online sites. Gamblers are well known for taking risks that is when they gamble, but does that mean they have no knowledge about what they are taking a risk? Yes, exactly they have the knowledge about gambling and all.

Before taking risks they do their homework and know the possibility of their failure, they also know that what the possibility of winning is, let’s say a gambler knows he has 90% chances of winning. So he will take a leap of faith, i.e. he will take the risk because the chances of winning are more than losing. This is known as calculated risk.

Bonus point: If you are a gambler and looking for some trustworthy casino sites then you can we have made a list for you. Visit the link in the text above. And if you are also looking for some online slots then you can also find them in the text above.

Risk and Learning New Skills

We all know that with taking risks there is always something at stake. So how is it related to learning new skills? Well, you see, learning new skills isn’t an easy job. You are training your brain to learn something new but in order to do that, you have to invest it in a lot. And the most expensive thing you can ever invest in your time.

Let’s say you are very fond of gaming and want to learn game development. But learning development itself isn’t an easy job, leave game development aside. If you are related or affiliated with a Computer Science background then you probably know about a lot of things related to coding, development and all and you know that you can easily learn this skill i.e. game development and in this case, this risk is called calculated risk.

But what if you are not from a computer science or coding background? You see this is the time when this risk becomes a real threat. For instance in order to learn game development, first, you will have study about it which will include a lot of things i.e. is reading, watching videos to educate yourself about the field. Then there will come a time when you will start learning the practical knowledge. But what if you are not able to learn it?

All the time you spend learning about it will it be wasted? Well, people come to this point and argue about it. In my opinion, it is not wasted and I have provided different reasons for that:

  • Skills aren’t all about having practical knowledge of something i.e. you don’t necessarily need to implement it.
  • Having knowledge is itself is a skill for if you can’t learn anything doesn’t mean you can’t educate about it to others as well. You can and this is a skill itself i.e. teaching others.

All the thing with risk-taking and learning new skills is that a lot of people end up learning other skills as well aside from the actual skill they are after and since it isn’t really a waste of time one should go for taking risks. With that said we actually know now that YES, you can learn new skills by taking a risk and at the end of the day. It won’t actually be a loss. So don’t hesitate to take risks because life is all about learning and taking a leap of faith where needed.

Benefits of Taking Risks:

In Order to encourage you, we made a list of few benefits of taking risks that are worth going through

  1. Taking risk can make you more creative since you are putting yourself in a scenario where you can’t accept failure and in order to avoid failure you take a different approach to solve a problem which in return make you more creative.
  2. Taking risk is a great thing because when you do that your door gets opened to a lot of challenges and in order to overcome all those challenges you meet with different people for advice and stuff which in return grants you a lot of opportunities.
  3. Taking risks also train your mind to work great and effectively in scenarios where you are under the pressure that you might fail so you push your brain and your limits in order to be successful and you really becomes one of those successful people.
  4. Also, once you are used to taking risks, you are able to live with anything. You accept challenges more frequently and you have faith in yourself that you can achieve everything if you work hard enough for it.
  5. It can also convey you to persuade your dreams as you are really used to taking a risk and you have achieved something which you couldn’t. That enables you to believe in yourself which ultimately led you to the fulfillment of your dreams.

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How to take risks

Author of College 101: A Girl's Guide to Freshman Year and A Little F'd Up: Why Feminism Is Not A Dirty Word. Founder and Editor of the FBomb (thefbomb.org).

How to take risks

Women are not exactly known for taking risks. Especially in the wake of the economic recession, women’s supposed restraint has even been lauded as studies ask whether or not the financial crisis would have occurred had more women been in positions of power in the financial world.

But the idea that women are biologically risk-averse is a myth. In fact, women’s tendency to take fewer risks than men is much less rooted in nature than it is in the way we’re nurtured. But no matter why women avoid taking risks, doing so may be hurting us in the long run. And many wildly successful women have spoken out about why women need to face their fears and take more chances.

Here are seven reasons why risk-taking is essential to women’s success, according to the very women who have benefited from putting it all on the line.

1. Great, otherwise unforeseen opportunities often come from risk-taking.

We tend to view risk-taking negatively, often regarding it as dangerous and even unwise. But while some risks certainly don’t pay off, it’s important to remember that some do. Reframing risk as an opportunity to succeed rather than a path to failure is something Sandra Peterson, CEO of the $10 billion business Bayer CropScience, knows well. She told Forbes in 2011:

Most women I know who have been successful in business, it’s because they’ve been willing to take on the risky challenge that other people would say, “Oh, I’m not sure I want to do that.” If you look at my career, I’ve taken on a lot of risky roles. They were risky to some people but to me it was, “Wow, this is this great opportunity and it’s allowing me to learn new things and take on a bigger role and a bigger organization.” But some people would view that as, “Are you crazy? What do you know about diabetes, or what do you know about washing machines or the food industry or automobiles or the agricultural industry?”

2. Taking risks shows confidence and helps you stand out.

Taking a risk is also a great opportunity to stand out and to present yourself as a leader, not a follower satisfied with the status quo. Tamara Abdel-Jaber, who is the CEO of the tech company Palma and was named one of the 100 Most Powerful Arab Women in Arabian Business Magazine in 2011, told Women 2.0:

The way I see it, many people in . [the Middle East] don’t have many resources and knowledge. In order to stand out, expend a little extra effort . I am passionate about knowledge and pursued that from an early age by working hard in school and have continued to do so throughout my life. My knowledge helps me to be confident, and I like taking risks.

3. We learn from risks — and those lessons may lead us on an important, new path.

But beyond the external opportunities and recognition risk-taking can bring, it also provides an opportunity for internal growth. Heather Rabbatts, the first female non-executive director of The Football Association, told the BBC in an interview for the Woman’s Hour Power List:

I think I’ve always felt that there was something quite exciting about taking risks. And there’s a great saying, actually, that you only learn when you are at risk and I’m fascinated by both risk and learning, so that has led me to take jobs that people would think “you can’t do that, that’s just impossible.” No it won’t be.

4. Success won’t fall in your lap — you have to pursue it.

But beyond being personally or professionally beneficial, taking risks may be a necessary step in actively pursuing success. When asked how she became the first female CEO of a television network in a Huffington Post interview, Kay Koplovitz responded:

You really have to put one foot in front of the other and start on your journey. You have to be comfortable that you don’t know exactly how you are going to get to the results that you want to see. There is going to be experimentation along the way. And you have to be comfortable that you can think your way through and actually execute your way through to the desired outcome. I expected to be successful. I wanted to be successful.

5. You don’t achieve your dreams by playing it safe.

Risk-taking won’t only potentially benefit the career-path you’re already on — it may actually open you up to a world of possibilities you have yet to consider. President and CEO of EngenderHealth Pamela Barnes urged female professionals to leave their comfort zone in order to achieve their potential in an interview with The Grindstone:

For all professionals, and especially young women, the world outside our comfort zone can be huge and scary. Until we are willing to put ourselves out there and take a risk, we will never be able to achieve professional success and realize our potential. It’s time to leave our comfort zone; time to go after what we’re passionate about; and time to achieve our dreams.

6. Embracing risk-taking helps you overcome a fear of failure.

Arianna Huffington has long identified the fear of failure as a major roadblock to success. She told Business Insider last year:

We women are a little more risk-averse because whenever you launch something there’s a big chance it’s not going to work. And we have a bigger problem with failure . [Women deal with] what I call the obnoxious roommate living in our head that constantly puts us down, doesn’t want us to fail because we become identified with our successes and failures.

But failure, Huffington insists, isn’t the end of one’s journey to success, but usually the beginning. She told The Guardian earlier this month that her mother always taught her that, “Failure is not the opposite of success but a stepping stone to success. “

7. Taking a risk doesn’t mean doing so haphazardly.

While risk taking can clearly be personally and professionally beneficial, it doesn’t occur in a vacuum, either. People don’t benefit from risks without preparing to take them and educating themselves on the possible fall-out. JetStream Federal Credit Union CEO Jeanne Kucey is well-aware of this fact.

“While I’m definitely a risk taker, at the same time, I do my homework and understand the importance of implementation and follow through,” she told the Credit Union Times in 2012. “You can’t just throw a bunch of ideas without seeing the whole process of a project and what the end should be or look like.”