Spending the start of the financial year on my parents farm provided a great chance to reflect on my risk taking – to analyse if I have done enough to minimise my risks and if I have taken full advantage of the opportunities that have been presented to me. I think compared to the environment I was in I have come up short on both counts.
There is nothing more grounding that being part of an industry where risk is so high (matched by the rewards), yet so difficult to manage as ultimately you are at the whim of the weather.
Entrepreneurs need to take risks to be successful. That’s a given. As a start up the big risk is opportunity cost – what else could have you been doing to earn money or achieve your goals. Your time, energy and dollars. Has it paid off – or how soon will it? Or will it at all?
When you are in business, the risk is you spend more time working in the business then working on it. Future proofing your income minimises risk yet we fall into this ‘busy’ trap time and time again.
For me – I could have taken better advantage of networks, been braver with leads, more focussed on networking. As a writer as well as a facilitator, I find it easy to kick back and be absorbed in my own world rather than getting out of my comfort zone and get out amongst it – that needs to change and I have set some goals to do that.
I also need to be more committed to trying new ways of doing things. Researching, seeking feedback and getting help from experts. There is risk in sitting back and doing things the way you have always done them. They may work today but not necessarily tomorrow (Facebook for example).
Being on the farm amongst the growing crops and the baby lambs reminded me of the nurturing required to grow a successful business. You can’t just plant the seeds and send in the rams and hope something happens. You have to plan, check, analyse, modify, and start again. The same rules apply for all businesses all industries.
What paddock do you need to check on today?
