The Nr. 1 rule of risk-taking

Wouldn’t it be incredible to have a sure-fire formula that you could rely on to work out if any proposed venture was going to be a success? No amount of market analysis or close monitoring of the stock market can lead to guaranteed accurate predictions about whether a new product, service or policy will achieve everything you hope it will. There is no calculation you can make, no analysis of facts and figures, which can ever definitively tell you whether or not a risk is worth taking. The very nature of a risk involves uncertainty.

So, if the decision of whether or not to take a risk cannot be decided based on facts and figures – how do great modern business leaders know when to take the leap and when to keep their feet firmly planted on the ground?

The answer is passion. If you truly believe in the direction you’re heading; if you believe that the success of this venture will make the world a better place; if you have a burning passion to share your vision and if you have the charisma to inspire that same passion in others – that is when you take the risk. Passion acts as a far greater guarantee than facts or figures could ever give. With enough passion, failures and set-backs are viewed only as learning tools and steps on the road to success. The drive and determination with which you pursue your goals are what success ultimately relies on.

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Can Akdeniz

Can Akdeniz is the author of seven books and founder of Business Hacker, a popular business blog. His books such as Go Nuts, Cool Boss, Happy Company and MBA 2.0 have changed how people think about business, productivity and work.