July 9 – From Classroom to Celebrations: The Power of Taking Risks

“And the day came when the risk to remain tight in the bud was more painful than the risk it took to blossom.” Anaïs Nin

Whether you realize it or not, you take risks large and small, every day, in all parts of your life. For instance, when I decided to leave my stable teaching job to start a party planning business, I was taking a significant risk. The good news is that you don’t have to leave it all up to chance and hope for the best. This week, we will figure out how to mindfully take a risk and minimize the possibility that the worst will happen.

Risk, a measurement of uncertainty, is a human construct that attempts to bring order to an unknowable future. When I started my party planning business, I knew there were countless variables I couldn't control, from client preferences to venue availability. Risk is meant to help us understand what we are up against and plan for what might happen, good or bad. It also helps us weigh different options and see which ones bring us closer to our goals. For example, I had to decide whether to invest in renting a space or start hosting parties at my house. The single most effective way to increase the odds that risk-taking will pay off is simple: define what risk and reward mean to you. For me, the rewards were financial independence, getting out of the teaching rut I felt I was in, and the opportunity to create memorable events for people.

“As long as we dare to dream and don’t get in the way of ourselves, anything is possible – there’s truly no end to where our dreams can take us.” Hilary Swank

From a risk perspective, there has never been a better time to be alive. Today, we have more tools than ever before, generated by data and algorithms, that can be used to both measure and mitigate risk. When I was planning my business, I used market research tools to analyze the best themes, find out what others were offering, and target demographics. We must take risks to move our lives forward. Understanding risk and knowing how to take smart risks is a critical life skill. Without this understanding, I would never have dared to transition from a steady job to the uncertainty of entrepreneurship.

Risk-free is a single predictable outcome. Risk is the opposite: all the things that might happen and the odds that they will. For example, when deciding on the themes for my parties, I knew there was no "risk-free" option. Every choice had potential upsides and downsides. If we avoid risk, our lives won’t move forward. Technically, risk describes everything that might happen, both good and bad, and how probable each of these outcomes is. My decision to offer unique, themed parties was a calculated risk, balancing the potential demand against the niche market.

“There is no discovery without risk – and what you risk reveals what you value.” Jeanette Winterson

But we need risks to make our lives better. We must gamble to get what we want, even if it comes with the possibility of loss. In my experience, risks can be categorized into several types: physical, financial, emotional, and social. For instance, launching a party planning business involved financial risks, such as investment costs and the uncertainty of profits. If we want a great relationship, we risk heartbreak. If we want to get ahead at work, we have to volunteer for projects we might fail at. When I decided to expand my party planning business to include corporate events, I faced social risks, as I had to network and establish new business relationships.

“Only those who will risk going too far can possibly find out how far one can go.” T.S. Eliot

We tend to think of taking a risk as a binary choice: either we take a risk or we don’t. But smart risk-taking involves going for more and taking just enough risk that we need (or are comfortable with) to achieve our goal. For example, when I planned the expansion of my business, I didn’t invest all my energy and money at once. Instead, I took calculated steps, like starting with small, manageable events to test the market. We can’t guarantee a positive outcome, but when we think about risk more strategically, we can increase the odds that things will work out. This is sometimes called taking a calculated risk, but there is a science to risk that helps you understand what is worth trying and how to maximize the chance of success when you do take a risk.

Understanding the balance between risk and recklessness has been crucial in my journey. When I decided to create a summer camp for young children, I conducted thorough market research and developed a solid business plan to ensure I was making a strategic move rather than a reckless one.

“If you don’t know where you are going, you might end up someplace else.” Yogi Berra

This week we will study the concept of risk-taking and its significance in our lives. By sharing examples from my journey, I hope to illustrate how understanding and managing risk can lead to growth.

Activity –

Conduct a Risk Analysis on a Personal Project: Choose a project you’ve been considering, like a side hustle or hobby. List potential risks and rewards and develop a plan to mitigate the risks. This could be starting an online store, learning a new skill, or even organizing a community event.

Network Building: Attend a networking event or join an online group related to a new interest or industry. Engage with members, ask questions, and establish connections. This helps in taking social risks and building confidence.

In today's increasingly digital world, it's easy to lose sight of what makes us human. The constant bombardment of screens and social media can distract us from cultivating essential qualities like kindness, empathy, and resilience.

My book, Nurturing Hopeful Resilience,  guides parents and caregivers through the challenges of raising children in a technology-driven age. It explores the importance of instilling strong values in children from a young age to help them develop into compassionate, responsible, and fulfilled individuals.

Through a series of practical exercises and insightful reflections, this book delves into fourteen core values: curiosity, awareness, kindness, learning, self-awareness, fairness, playfulness, compassion, service, belonging, trustworthiness, authenticity, community, and responsibility. Understanding and nurturing these values can empower our children to thrive in a complex and ever-changing world.

This book offers a roadmap for raising children who are academically successful, emotionally intelligent, socially adept, and morally grounded. It encourages readers to prioritize human connection, empathy, and compassion over material possessions and fleeting digital distractions. By embracing the power of values, we can create a brighter future for ourselves and generations to come.