Living the E Life
Let's continue unpacking the 10 E Mindsets. These mindsets give us a framework to move through the inevitable challenges and experiences that come with being an entrepreneur. We've found each mindset to be incredibly helpful, though you might focus on different ones at different times to help you create a fulfilling and sustainable entrepreneurial journey.
Here's mindset #8:
Take the healthy risk.
One of the first things you might hear about being an entrepreneur is that taking risks is par for the course.
"Entrepreneurs are risk takers"
"You can't be risk adverse and be an entrepreneur"
After living this entrepreneur life for quite a few years, we'd say that the truth is a bit more nuanced. For starters, we all have a different level of risk tolerance, which can vary across entrepreneurial domains. For example, you might feel more risk-adverse with financial decisions (hello to our fellow savers!) but not with branching out into a new area of the market.
We're not saying to throw caution to the wind and embrace risk-taking to the fullest - but rather, to take the healthy risk. This type of risk is calculated and intentional, it's a decision based on your why and your values, your goals and your competence. Sure, there will still be uncertainty with the outcome (otherwise it wouldn't be a risk, would it?) but it's something that you've determined is worthwhile. Here are some examples of healthy risks we've taken in our businesses:
Shifting from side hustle to full-time in private practice
Submitting an RFP (request for proposal) to work with an organization
Saying yes to a client or contract that is slightly outside of our comfort zone
Doing a keynote rather than an interactive workshop
Developing a new revenue stream, like group coaching
Making changes to our tech stack
Taking extended time off for maternity leave
Saying no to or referring out for various opportunities
A healthy risk feels like an uncomfortable stretch that ultimately won't destroy what you've worked so hard to build if it doesn't work out. In contrast, an unhealthy risk has a greater degree of uncertainty where an unfavorable outcome has the potential to blow up your business, ruin your reputation, or leave your finances in a state of disrepair.
Bottom line - healthy risks are part of the process. These risks can also be a lot of fun, where we have the opportunity to practice skills we teach to others, sprinkle in some creativity, and embrace the unknown. What is a healthy risk you want to take?
Key Takeaway: Entrepreneur life is full of uncertainties. Taking the healthy risk is about being thoughtful in how you stretch yourself and your business while maintaining a semblance of a safety net.
Psst: if the healthy risk you're ready to take is starting a mental performance business, the Establish course can help you do just that.
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