Look Before You Leap: A Guide to Taking Big Chances

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Last Updated on December 21, 2020

Taking big life chances is not for the faint-hearted. Not many people are always willing to make decisions that pose a threat to their status quo.

While most people tend to stick in their comfort zone – where they prefer leaving things as they are – many others love taking risks. They get out of their comfort zones and confront new and exciting opportunities. If you are that type of person, then you are bound to go far.

However, it is important to look before you leap. Ensure that you take calculated risks. For example, conduct due diligence on whatever you are planning to venture in – be it starting a new business, going back to school, quitting your job, or anything else.

Below is a guide to taking big chances, brought to you by site supporters:

1. Accept the fact that failure is part of a successful story

The fear of failure is what keeps many people from achieving their dreams. Most people tend to give up when they are faced with temporary defeat.

The first thing that you should deal with when taking big chances is fear. You should understand that things might not turn out as you expect.

The best thing to do is to prepare to learn from your setbacks and put measures to mitigate them. Understand that failure is an opportunity to learn and move to even greater heights. Do not give up when you feel you start to feel you are not achieving what you had planned.

2. Do due diligence

Taking big chances means venturing in unchartered waters. It means taking risks that you haven’t taken before. However, you can’t go in blindly expecting to succeed. It is important to carry out due diligence in whatever you want to do.

For example research MBA programs in California before moving there to pursue your entrepreneurial dreams. Doing so will help you understand important details about the MBA program as well as the institution you are about to join.

3. Be ready to lose something because of your decision

Taking big chances is not for everyone. It is about making sacrifices that most people would rather not. It means getting out of your comfortable situation or losing something that’s dear to you. For example, deciding to move to another state to pursue your studies means losing some of your friends.

However, the price of staying away from your family and friends could be greater than not doing so. You, therefore, have to be prepared to make small or even bigger sacrifices to achieve better things in life.

4. Know when to change course

It is sometimes difficult to understand the law of attraction with your first goal. For example, you might think that starting a health and fitness business is the best thing for you.

That’s why most people tend to stick to the first goal – even if it’s not working. They refuse to let go because they feel they have invested a lot in that project or initiative. However, it is important to let go when you feel that things are not working.

5. Consult

It is not a bad idea to seek advice about something that you are about to do. There is a high chance that someone else has already done and succeeded in whatever you are aspiring to do. Seek expert opinion on anything you would like to do.

My Life, I Guess

My Life, I Guess is a personal finance and career blog by Amanda Kay, an Employment Specialist and older millennial from Ontario, Canada that strives to keep the "person" in personal finance by writing about money, mistakes, and making a living. She focuses on what it’s like being in debt, living paycheck to paycheck, and surviving unemployment while also offering advice and support for others in similar situations - including a FREE library of career & job search resources.

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