Articles

What’s a Right Risk?

Jana M. Kemp

Investment advisors ask us whether we’re risk averse when we set up our portfolios. Risk avoiders like to play all things in life as safe as possible. And Risk Management is a profession that helps companies recognize, plan for, and insure for the risks that may harm or destroy the company.

Now, the book “Right Risk” by Bill Treasurer (Berrett Koehler, 2003) provides insight on recognizing the risks that are right for us. No, the book is not a wealth management, insurance-related book. It is readable and introduces “10 powerful principles for taking giant leaps with your life.”

Leading into the book, author Bill Treasurer poses these questions. “What is the big risk you are currently faced with? Why haven’t you taken this risk yet? What is standing in your way?” Throughout the book, more questions prompt you to get moving toward taking the risks that are right for you. And Treasurer knows of what he speaks because he was a daredevil high diver who overcame a fear of heights to make giant leaps on a regular basis.

Each of the ten right risk principles has a chapter devoted to their essence. Principle 6 suggests that you “make your fear work for you.” Treasurer points out the “fear is the greatest risk inhibitor.” Fear of falling, fear of flying, fear of not having enough money, fear of getting hurt, fear of having our hearts broken, and fear of being ourselves can prevent us from living a life of meaning, joy, and right rewards.

Supporting the 10 Principles are the Hallmarks of Right Risk which serve as guides for making choices and taking risks. The four hallmarks are Passion, Purpose, Principle, and Prerogative. When a risk is right, we are passionate about it. A deep sense of purpose “serves to harness the wild horses of our passion and give them direction.” And principle or values govern the risks we take so that our choices are full of integrity. Prerogative is about the ability to choose. “Right Risk-takers view the power to choose as a privilege and honor it as such.”

Treasurer closes “Right Risk” with a challenge for each of us: to pursue the “rightest risk of all – being yourself.”

ACTION ITEMS: Review the personal risks you take; are they right for you? Which right-risks are you avoiding and why? Also, review the risks your company is taking; are they right? Do the risks help you get to the places and customers you want to reach? Do the risks allow you to provide the products and services you want to and at the levels of quality that you want?

Right Risk - BUY BOOK button – link to amazon.com

Reprint Permission: The author is willing to grant reprint permissions. Please contact Jana Kemp: jana@janakemp.com or call 208-367-1701.