January 11,2009
"The Biggest Risk is
NOT Taking a Risk"
with Dr. Elaine Eisenman
www.ididntseeitcoming
thebook.com
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Circles of Change: Conversations with Dr. Zara Larsen
on Change Leadership and Career Fulfillment
January 11, 2009
“The Biggest Risk is NOT Taking a Risk”
Guest: Elaine Eisenman
Anchoring Points:
- Fail now and then, for the surest road to failure is unbroken success.
- Most business owners look straight ahead and miss all the environmental cues, instead of being risk aware. The consequence of not really “seeing” is that 10-20% of small growing businesses do not survive beyond five years.
- Because entrepreneurs are action-oriented, they often spend little time and thought on self-assessment and self-awareness. Some of the landmines that leave them blindsided include:
- Insular thinking – to prevent delusion of invulnerability, engage an external board of directors/advisors to keep you on track
- Unrealistic optimism – 81% of all entrepreneurs believe they will be 100% successful
- Anchoring – when all perceived risks are tagged to personal experience, leaving no room for contrary input, or new fix-it ideas. The past may not be a predictor of the future
- Base rates – paying attention solely to something makes it more prevalent, narrowing your “seeing” field
- The key to mistakes is not just avoiding them, but managing their cost. Real success is learning and growing from mistakes.
- Regarding personal career navigation, keep in mind the four laws of survival to prevent being blindsided:
- Law 1: It’s always about the money. Make sure you are associated with generating direct value (aka income) for the business.
- Law 2: Get with the program. Savvy players learn how to leverage change, stay relevant, and always continue to work hard to improve the plan.
- Law 3: Perception matters. Other people’s impressions go a long way toward determining whether they see you as an ally or a competitor, a leader or a follower, a team player or a loose cannon.
- Law 4: Always have an exit strategy. No job is forever. Maintain control, have confidence, realize that change is constant, and having a plan allows you to take risks in your career to grow.
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