From risk to reward - Pharmaceutical Representative
Pharmaceutical Representative March 2010 issue cover

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From risk to reward
Taking the right chances can provide great benefits


Pharmaceutical Representative



To risk or not to risk – that is the question. Throughout your career, you will be faced with opportunities that require risk-taking. Some risks you may already have faced include switching territories, switching companies and taking a new position within your company that requires relocation.

What are some of the things you need to consider as future situations arise that require risk? Here are a few questions I ask myself:

  • What is the worst that could happen?
  • What are the odds that it really will happen?
  • If the worst does happen, then what?

Taking calculated risks

Years ago, I had the opportunity to take an early retirement from my job as a college professor. This would allow me to turn my part-time training and coaching business into a full-time venture. Talk about risks! I was the sole support for my two daughters, and I never had worked in a business before. I first discussed it with my dad – a successful businessman. His response was, "Are you crazy?"

I have learned over the years that it is important to surround yourself with people who are positive. Positive people can still be cautious, but they help you explore all possibilities. Mark Twain said, "Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great."


Calculate your risks
I don't suggest jumping out of the plane, though, unless you have carefully packed your parachute. Calculated risks are what I'm talking about. Of course, the bigger the opportunity, typically, the bigger the risk (see sidebar).

The people who are most successful in their careers – and satisfied with their lives – are the ones who are willing to take risks. If risk-taking is hard for you, begin slowly. Write down small risks you would be willing to take, such as delivering a presentation to your peers or volunteering to serve on a company task force. Put a deadline date next to the risk you plan to take. Next, ask yourself the questions: What is the worst that can happen? Is it worth it?

Then, take the risk. Evaluate the results. Celebrate the accomplishments – even the smallest. Build up to taking larger risks. You will begin to see larger rewards and more confidence in your willingness to take risks.

Remember playing on the jungle gym as a child? To cross to the other side, you needed to let go with one hand and grab the next bar. That is what I suggest you do when taking career-related risks – let go with one hand. Open up to the possibilities. See what you can learn and contribute. You won't be sorry.

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