A few months ago I wrote a piece about how embracing risk is an essential skill for entrepreneurs to develop. The crux of the article was that it’s not easy to feel comfortable taking risks, but it is at the core of what we do as business owners. Risk, though, is only one side of the coin.
The other side is a result of the risks we take—change. Adjusting to changing situations can be just as tough to get used to as taking the risks that effect those changes. Not to mention, that risk and change will be a constant in your business from day 1. So the more comfortable we can become with taking risks and going with the change it brings about the more dynamic we become.
My partners and I take risks each and every day in how we build and run our design studio. Those risks are bringing about a constant stream of change—some positive and some negative.
My partners and I take risks each and every day in how we build and run our design studio. Those risks are bringing about a constant stream of change—some positive and some negative. For instance, if we don’t reach out and try to develop new clients, even when we are flush and have a ton of work, we are sure to experience change. When we enter a slow period payroll becomes more difficult to make because we didn’t do the biz dev we needed to in order to keep cash flowing into the studio during lean times. It’s a small example, but one that we face a few times a year…and one we’ve learned a lesson from the hard way.
I had a conversation the other day with our business advisor about this subject of change, and interestingly, he mentioned that even after 21 years of working for himself that change (and the unsettling feeling that comes along with it) is still something that he struggles with from time-to-time.
The point of this little ramble is simply that risk creates change, and change and risk are essential to growing your business. If you’re the type of person who struggles with change that might be problematic, but keep moving forward. The better you become at taking risks and embracing the resulting change, the better you become at steering through the highs and lows that come with business ownership.