Art of Taking Calculated Risks
Risk taking isn’t just a natural born propensity, it’s a skill that can be refined with practice over time. Specifically, taking calculated risks to fuel your career forward is an art. Purnima recently chatted with VC turned healthcare entrepreneur Manusha Chereddy, who gave insight on how she took risks in her transition from the world of healthcare investment banking to healthcare venture capital, and now to healthcare entrepreneurship.
Here are top 3 tips on how TO BE STRATEGIC ABOUT YOUR RISK TAKING
Create your own personal board of directors. Having mentors/advisors that are experts in your desired field is critical. You will not only be able to learn from your own experiences, but theirs as well. Engaging with a knowledgeable support group will build your confidence in your ability to identify fruitful opportunities and enhance your willingness to take the risk. Even when you don’t feel like you’re 100% ready to jump in, the confidence you’ve built will make you excited for the next step and give you faith in yourself that you have the skillset to accomplish your goals.
Have a plan and stick to it no matter what. Make a clear plan of what you want to achieve, what it’s going to take to get there, and stick to it. Yes, you’ll have to make sacrifices to achieve it - perhaps some financial cutbacks, missing out on nights hanging with friends - but always keep your end goal in mind. Know that the skillsets you are currently building will make yourself more valuable in the future and don’t doubt your path.
Dream BIG. Be ok with the unknown and let your ambition create a vision of your future that energizes you. Visualize it, constantly work towards it, and never settle. The opportunities are endless, and they are yours for the taking if you are willing to put in the drive.
Curious to learn more? Watch the whole LiveCast for more of Manusha’s risk taking wisdom.