Harnessing the Power of Calculated Risk: Insights from "13 Things Mentally Strong People Don't Do"

In Amy Morin's influential book, "13 Things Mentally Strong People Don't Do,"

readers are guided through a journey of self-discovery and resilience-building. Among the critical lessons is an undercurrent theme relevant to both personal growth and professional success: the power of calculated risk-taking. Morin doesn't explicitly focus on this topic alone, but the strategies she outlines can be seamlessly applied to understand and implement calculated risks effectively.

EMBRACING RISK WITHOUT FEAR

One of the pivotal chapters in Morin's book discusses the importance of not fearing taking calculated risks. Mentally strong people differentiate between reckless risk-taking and calculated risks. They understand that embracing risks is necessary to advance in life. Here's how the principles from Morin's book can guide us in taking smart, calculated risks:

THEY DON'T WASTE ENERGY ON THINGS THEY CAN'T CONTROL

Amy Morin's insight into the behaviors of mentally strong individuals reveals an essential strategy for both personal resilience and success: concentrating energy on what one can control, especially in the context of risk-taking. This approach is a powerful tool for navigating uncertainties and managing stress, often prevalent in decision-making involving risks.

Understanding What You Can and Cannot Control

Certain elements lie within our influence in any situation, while others do not. For example, in a business context, you can control the preparation of a pitch to potential investors by ensuring thorough research, crafting compelling arguments, and rehearsing your presentation. However, external factors such as the investors' mood, the economic climate, or competitive offers remain out of your hands.

Mentally strong people are acutely aware of this distinction. They invest their time and energy in enhancing the quality and readiness of what they can control. Simultaneously, they consciously acknowledge and accept the elements beyond their influence. This clear delineation helps prevent wasted energy on unchangeable aspects and reduces feelings of frustration and stress.

The Role of Preparation and Acceptance in Risk-Taking

Preparation is a critical component of taking calculated risks. By meticulously planning and preparing, you can influence many variables of the risk at hand. This might involve gathering extensive data, consulting experts, scenario planning, and setting up contingency measures. This level of preparation not only increases the likelihood of success but also builds confidence in the decision-making process.

However, no amount of preparation can eliminate all uncertainties or guarantee outcomes. This is where acceptance plays a crucial role. Mentally strong individuals recognize that some outcomes will always be outside their control and accept these uncertainties without letting them hinder their decisions. They understand that risk, by nature, involves the potential for an undesired outcome, and they prepare mentally to accept and manage these possibilities.

The Empowering Effect of Acceptance

Acceptance of uncontrollable elements does more than just mitigate unnecessary worry—it empowers action. When you accept that certain variables are beyond your control, you can move forward with decisions more freely and with less hesitation. This acceptance helps to eliminate the paralyzing effect that fear of the unknown can have. It fosters a proactive rather than a reactive mindset.

Consider a tech entrepreneur debating whether to launch a new product in a volatile market. By focusing on perfecting the product's development and marketing strategy (controllable aspects) and accepting market volatility (an uncontrollable aspect), the entrepreneur can proceed with the launch without overburdening themselves with anxiety about market conditions. This proactive approach allows for better mental clarity, decision-making, and readiness to adapt to market feedback once the product is launched.

THEY DON'T SHY AWAY FROM CHANGE

Amy Morin highlights how mentally strong individuals differentiate themselves by embracing rather than shying away from change. This characteristic is particularly significant because change is an inevitable aspect of personal growth and business evolution. Understanding and embracing change is crucial for those taking calculated risks, as it often leads to new opportunities and benefits.

Viewing Change as an Opportunity

Change is frequently perceived as unsettling or threatening because it disrupts the status quo, introducing uncertainty and potential challenges. However, mentally strong people reframe this perception. They view change as an integral part of life's dynamic nature and a catalyst for growth and innovation. By embracing change, they are better positioned to capitalize on the opportunities it brings.

For instance, in the business world, technological advancements, market shifts, or new regulatory environments can significantly alter how companies operate. Mentally strong leaders anticipate and embrace these changes, seeing them as chances to innovate, gain competitive advantages, or improve efficiencies. They use these shifts as leverage points to propel their organizations forward rather than as hurdles to their current practices.

The Role of Adaptability in Embracing Change

Adaptability is a critical trait for effectively embracing change. Mentally strong individuals are flexible in their thinking and approaches. They are prepared to pivot their strategies and abandon old methodologies in favor of more effective solutions. This adaptability allows them to respond to changes with agility and confidence rather than with fear and resistance.

For example, consider a company facing the advent of a disruptive technology that threatens to make its current products obsolete. A mentally strong leader would proactively seek to understand the new technology, exploring how it can be integrated into their business model or used to create new product lines. This proactive approach mitigates the risk posed by the change and positions the company as an industry innovator.

Calculated Risks and Change

Taking calculated risks often involves initiating or responding to change. Mentally strong people excel in these situations because they have cultivated an ability to strategically assess and act upon changes. They perform thorough risk assessments that include the potential benefits of embracing change versus the risks of maintaining the status quo. By doing so, they turn potential threats into growth strategies.

Therefore, taking calculated risks involves a deliberate evaluation of potential changes and an understanding of how these changes align with long-term objectives. It's not merely about reacting to changes as they come but about anticipating them and positioning oneself in a way that uses these changes to one's advantage.

HOW TO APPLY THESE LESSONS

Applying Morin's teachings, anyone can approach risk-taking with a more fortified mindset:

Assessment and Preparation

Before taking a risk, conduct a thorough assessment. List potential outcomes, probabilities, impacts, and mitigation strategies. Preparation involves gathering as much information and advice as possible, aligning resources, and setting clear, actionable plans.

Emotional Detachment

Mentally strong people manage their emotions around risk. They don't let fear or excitement unduly sway their decision-making process. Practicing emotional detachment helps them assess risks objectively and make decisions based on facts and data.

Learning from Past Experiences (Not dwelling on the past)

Every past risk, whether successful or not, offers valuable lessons. Reflect on these experiences, identify what worked and what didn't, and use this insight to make smarter decisions in the future.

Building Resilience

Resilience is about bouncing back from setbacks. When a calculated risk doesn't pay off as expected, mentally strong individuals learn from the experience without letting it deter their future endeavors. Building resilience is crucial, as it ensures that the fear of failure won't prevent taking necessary risks.

"13 Things Mentally Strong People Don't Do" offers profound insights into how we can handle life's challenges, including taking calculated risks. By adopting a mentally strong mindset, individuals can approach risk-taking more strategically and confidently. It's not just about taking risks but doing so in a way that is calculated, informed, and devoid of unnecessary fears. Doing so opens the door to opportunities and growth that would remain inaccessible if trapped by fear and inertia. Embrace the lessons from Morin's teachings, and empower yourself to take smart risks that propel you towards your goals.