Why You Should not Think Financial risk as Simple it Looks?

September 14, 2019 11:37 PM    Carol Adams   By Carol Adams
300
Why You Should not Think Financial risk as Simple it Looks?

Why You Should not Think Financial risk as Simple it Looks?

September 14, 2019 11:37 PM     Carol Adams   By Carol Adams
300

If you are going to do something that will be going to change your life forever, then without ‘RISK’ you will never able to achieve it. Steve Job (Founder of Apple) used to say:

“The greatest artist like Dylan, Picasso, and Newton risked failure. And if we want to be great, we’ve got to risk it, too.”

Many people put their lives in danger to bring a CHANGE. Though, it is not that easy as it seems. If you think that taking risks is the only way to get success, then you are wrong. Suppose your financial condition is not good but buying a house is your ultimate goal. Do you think it is that simple?  

You put all your savings and hard-earned money into it. But can you imagine life after you end up with everything? What will happen when you met with some unexpected expenses? You may fulfill your dream but life after that may be tough.

You have to consider both the positive and negative sides of taking a risk. You should know how to use your savings as you can opt for other financial assistance such as investment or borrowing options like short term loans on this website. You can approach online lenders in the UK for borrowing even with the less-than-stellar or bad credit scores. 

Apart from these, there are many other ways through which you can better manage the risk. We have discussed this part at the last of this blog. Before we skip to that, first have a look at the positive and negative sides of RISK. 


Let’s start with the POSITIVE SIDE...

Positive risk means you have faith that you will produce too much of a good thing. You are not only going to change your life but other’s too. 

Opportunity

Source: Pixabay.com

Without risk, you will never able to convert the moment to an opportunity. Taking risks means you have a lot of chances. You can try anything and can see the hope that YES! I can do it. It is very important to take a risk if you think that you are lack of opportunities. 


Get out of console zone 

Sometimes, people resist themselves to do a new thing because they are afraid of losing things. But if you really want to see the change, you have to leave your comfort zone. Many famous entrepreneurs who earn billions per annum work eighty hours per week. And this is far more than normal work. 

You can see, they are rich but still, they continuously work hard to improve their skills. 

Now,


Let’s have a look at the NEGATIVE SIDE of taking the risk...


You can lose everything

Source: Pixabay.com

Sometimes people gets motivate from other personalities, which provokes the fire to do something. But this is not the right approach, without proper planning and assistance you can lose what you have. 


People will laugh at you 

People often make jokes about a person who fails in something instead of console him. Sometimes it becomes worst which may lead him to take some wrong steps. If you are going to take the risk, then make sure you know how to handle the failure and taunts. 


You have to do something you don’t like

When you expect a luxurious life but failure of the project breaks you from inside. It may happen that you do not feel comfortable with the work you are doing. You are doing because to improve financial condition. 

It is very important to ready for the consequences of taking the risk. It may provide you everything or nothing. 

We have shared a few POINTS which you should consider before taking the risk. Those are mentioned below:

Do proper research: Analyse your idea that is it actually worth to start. Offer something which other companies do not have. If you face a lack of funds, then you can rely on below mentioned ways

  • Investor funding
  • Angle investors

Or you can rely on loans without guarantor for instant money. 

Follow your instinct: You should follow the law of attraction. It means you should follow your guts. If you feel that thing is good, then go ahead.  

Take a risk for yourself: Always remember your family when you take a decision, it should not happen that because of your risk, your children and spouse suffer from the financial crisis. 

 You can see that taking risks means a double edge sword. You may lose or win but if you think you will definitely going to make it, then follow it. 

Updated 09:52 AM UTC+8, 15 Sep 2019
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Carol Adams
Carol Adams
Contributor
 
Carol Adams is a financial writer with more than five years of experience. In this blog, he shared important aspect that you should.

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