The Hidden Risk of Not Taking Risks

“My father could have been a great comedian but he didn't believe that that was possible for him, and so he made a conservative choice. Instead, he got a safe job as an accountant and when I was 12 years old he was let go from that safe job, and our family had to do whatever we could to survive. I learned many great lessons from my father. Not the least of which was that: You can fail at what you don't want. So you might as well take a chance on doing what you love.”

-Jim Carrey

The Safe Route

We often choose the safe route, staying in our comfort zones, but what if avoiding risks is the very thing that holds us back? Not trying might be closing doors we didn’t even know were there. I recently came across Jim Carrey’s story about his father’s life choices, and it got me thinking about how risk-taking drastically shaped my own journey. As someone who asked my parents for a one-way ticket to the U.S. at 16, I’ve always believed that taking risks was the only way to realize my dreams, so I’ve never been afraid of them. While I didn’t fully understand it at the time, I quickly learned that there’s an art to taking risks—one that can be honed and refined. Recently, I dug deeper into this topic with the hopes of finding answers to the important role risk-taking plays in success and the smartest ways to approach it. Curious what I learned?

The Massive Power of Risk-Taking

Research on successful individuals around the world reveals a common theme: risk-taking is not just an impulsive act but a key driver of innovation and success. I came across a particularly intriguing study in behavioral economics that highlights how people tend to overestimate the fear of failure while underestimating the opportunities that come from taking calculated risks. The same study suggests that successful entrepreneurs often embrace uncertainty by focusing on what they can control and learning from each step forward, rather than being paralyzed by fear. Additionally, a report from the Kauffman Foundation found that businesses willing to take strategic risks tend to innovate faster and outperform their competitors. Leaning into risk opens doors to growth, tapping into potential that only exists beyond the safe and familiar—this is where the greatest rewards are often found. As an entrepreneur, I believe being at peace with the unknown and viewing every outcome as either a success or a stepping stone keeps me on the right path to progress.

Risk Aversion Leads to Missed Opportunities

Back in 2010, my storefront lease was about to expire. Fear of losing walk-in traffic, combined with the cost of moving to a larger space, led me to sign a five-year extension. This decision delayed our goal of focusing exclusively on creative businesses, as we were distracted by random walk-ins and didn’t have a space that reflected our vision. Two years into our lease at the storefront, I sat across from a business owner and realized that neither my space nor my setup reflected the services I was quoting to deliver, which ultimately cost me acquiring him as a client. I don’t look back on decisions with regret but with understanding, as they often teach valuable lessons. Until then, I hadn’t fully understood the cost of playing it safe. While avoiding risk felt comfortable at the time, the lease ultimately guaranteed stagnation until we finally moved.

So How Do You Take Calculated Risks?

First, start with what you know. I’ve always enjoyed writing and communication, so with the technical skills and expertise my team brought to the table, I decided to step away from the day-to-day tech work and focus on being the bridge between people and technology. While I initially felt nervous about not practicing my tech skills, I realized that meeting this bigger need for both our clients and Chat Tech gave me a stronger sense of purpose. Remember, the ideal situation will never come, so make progress by taking calculated risks, leveraging your skills, resources, and network. Start now and build from there. Next, evaluate and minimize the downsides of the risks you take by testing ideas with minimal investment, so that failure, if it happens, remains manageable. When I transitioned out of my technical role at Chat Tech, I made sure it was gradual and manageable for my team. As you move forward, remember that not everything will be within your control. Focus on what you can influence, and be prepared to adapt when surprises arise. Finally, even if things don’t go as planned, view failures as opportunities to learn and grow—sometimes unexpected outcomes can lead to even better ideas.

Whether in entrepreneurship, personal development, or relationships, taking calculated risks gives you a greater chance of reaching your goals and dreams. Remember, even failures are opportunities in disguise. So, next time you’re on the fence, ask yourself: What’s the bigger risk—taking a chance or never trying at all?