“I believe that taking risk requires courage, while managing risk requires discipline”.
Many years of my professional life have been spent taking risk, primarily in the form of financial risk. But each of us experience’s various types of risk in our everyday lives, and whether we know it or not, it takes’ courage.
Getting in your car to go to work involves risk. Performing the daily functions of your profession whatever it may be involves risk. Getting back into your car to go home or do errands around town involves risk. “It’s a leap of faith”. Having the “faith” to take on this daily risk is derived from many things including one’s religious beliefs, educational background, parents, family and friends. The faith has to come from some input, whether it is internal, external or both.
Faith provides the courage, which allows us to take the risks and fulfill one of the most basic of human needs, to grow as individuals.
Managing risk requires discipline. This discipline requires rules, structure and laws in an effort to preserve one’s self. Managing risk while driving to work would include using your seatbelt, driving the speed limit and obeying stoplights. In one’s professional life managing risk includes’ establishing rules, guidelines and procedures to follow. A Stock trader once said, “If you can’t take a small loss on your stock, sooner or later you will take the mother of all losses on your stock”, referring to losing a little money or losing a lot of money, depending on how you manage your risk.
To surmise, taking risk is a good thing, a very good thing. It’s human nature and it must be done. But risk must be managed through a variety of means. For if risk is not properly managed, catastrophic loss may be the result. And all the faith and courage in the world won’t help if you are not around to take it.
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