ABSTRACT GD TOPICSGENERAL GD TOPICSGROUP DISCUSSION TOPICS

RISK HAI TO ISHQ HAI

Why is it important to take Risks?

RISK HAI TO ISHQ HAI

INTRODUCTION

Famous dialogue ‘Risk hai toh Ishq hai’ from Scam 1992 shows the attitude of Harshad Mehta towards risk. Harshad Mehta was a stockbroker in India, famous for the scam he committed in 1992. He knows there is a risk and also acknowledges unknown risks. The best thing he had was making the decision in less time.

From childhood, everyone taught us to follow a safe path but if you want to achieve something extra then you have to take the risk at some point. Most of the successful person had taken the risk at least once.

risk hai to ishq hai risk taking


QUOTES

“The master has failed more times than the beginner has even tried.” -Stephen McCranie

“If you are not willing to risk the unusual, you will have to settle for ordinary” – Jim Rohn


STATISTICS – What Numbers have to Say?

  • In 2000, co-founder of Netflix Reed Hastings offered Blockbuster Netflix at 50 million dollars. But Blockbuster denied the offer. At that time Netflix was earning 5 million dollars in revenue whereas Blockbuster was earning 4.5 billion dollars. And also Netflix experienced 58 million dollars loss in this year. So Blockbuster don’t want to take the risk by buying such small and less profitable company. But 2003 was the first profitable year for Netflix and from there profit and popularity of the company increased continuously. In 2010 Netflix dominated the market and Blockbuster filed for bankruptcy.

 

  • Tony Fernandes decided to sell his whole life savings, mortgaged his house, forego his high paid salary to purchase AirAsia. Many industry analyst and lender predicted failure for him if he ventures into this business. But Tony Fernandes had shown the world that for entrepreneurs to succeed in business, they must try new things and take the risk ahead.

 

  • The family business of Ashok Jaipuria was Swadeshi Polytex. But he started with completely different business and founded Cosmo Films Ltd. Currently, it is the largest exporter of BOPP films from India and the largest producer of Thermal Lamination Films in the world. Turnover of the Cosmo Films in the financial year 2018-19 was USD 311 million

DESCRIPTION – Let’s take a Deep Dive

Risk is something most people are afraid of and as a result, they shy away from building a successful career to avoid it. If you want to achieve something extraordinary then you have to come out of your comfort zone. In childhood, we risked ourselves by putting the first step if we feared to do it at that time then we were unable to walk now. There are many examples from different fields who took the risk and became successful.

Most people fears to do out of the box things so they become vulnerable and exposed to be hurt. After some period they regret not taking the risk in the past. One can not become comfortable with taking risks overnight. Once we start taking smaller well-planned risk regularly it will create a positive impact on us and it will become habitual for us.

 

Importance of taking the Risk

  1. Generate new Opportunities

‘Opportunity does not come gift wrapped. You must take the risk.’ We grow tremendously in life when we take the less travelled road. You might achieve your pre-defined goal but if not that then also you will open up to new doors that you had not even considered.

  1. We learn from risks

If we succeed in life by taking that road then we will be in a better position than others. But even if we fail then also we learn some lesson from it which will be very insightful. Yes, not all risks takers indeed lead to success most of them fails. But failure forces us to re-evaluate our strategy, to redefine our goals, to reset our limits and to pull up our socks to try again.

  1. One can’t achieve something extra by playing safe

Playing safe will only help us to achieve ordinary goals. Changes are hard and scary but they bring opportunities. Everyone wants to have a securing and a pre-defined future so they feel uneasy to think about undefined future.

  1. Overcome fear and helps you to stand out

One of the reason always running away from taking the risk is we think more about failure and what people will say. But taking risk helps us to overcome the fear of failure. Once we are habitual of it, we care less about what people will think. It is a positive shift in thinking. When we become fearless we start to take the risk and we present ourselves as a leader rather than as a follower.

  1. Inaction will lead to nowhere.
  2. It will also demolish the guilt of not trying something different.

 

 

What we should keep in our mind while taking the Risk?

As taking the risk is important in daily life as well as in career. But one should take the calculated risk rather than blind risks. Chances of failure are high in Blind risks it can lead to decreased self-confidence. To avoid this while taking risk we should keep some points in mind.

  1. Whatever result maybe one should accept it
  2. Do the proper research and get the facts to avoid a negative outcome.
  3. Stay focused and calm while making any risk decision.
  4. If you want to take the risk then only take it don’t take the risk under family or social pressure.
  5. While taking risk trust your intuition.
  6. While taking risks, make sure you have a backup plan for set back.
  7. Just because you decided to do something doesn’t mean to go for any risk blindly first confirm whether it is worth or not.
  8. Make quick decisions.

CONCLUSION

Yes, there are chances of failure in taking the risk but we can reduce them and learn from them. But risk-takers are more successful as they do not limit themselves when everyone is hesitant. One should never be satisfied with living a normal life we should try something new on daily basis.

Remember, any customer will pay for the best. Regardless of the popularity of your business, your customers will go to your competitors at the drop of a hat if they’re offered better products or services. So take the risk to stay ahead of everyone, to make your business or career more astonishing.

Take the risk or lose the chance.


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Author – Vaishnavi Guntoorkar


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