It's Tuesday at 2:00pm! (PST Time: I live and work from Southern California)
RISK.
There is risk in everything we do. Sometimes that risk can be managed, and sometimes the risk is completely out of our control.
I remember years ago when our family was facing a major move, I went through a risk assessment. This was more personal, because we were going to start a work, so the primary risk was in our own lives, not so much the work.
When I assess risk, I ask myself these questions:
WHAT IS AT STAKE? I want to identify what am I putting at risk, and what could I lose?
WHAT IS THE WORST CASE SCENARIO? I want to evaluate what would happen if everything fell apart.
WHAT IS THE BEST CASE SCENARIO? What happens if we succeed?
WHAT AM I CALLED TO DO? What is God asking me to do?
ARE WE ON THE SAME PAGE? If others are involved in the decision, it's important to know if my spouse is on the same page with me or if team leaders are on the same page with me.
Once I ask these questions and answer them, I can make a clearer decision.
In Forbes Magazine, Mary Juetten shares 4 ways we manage risk:
IDENTIFY IT
ASSESS IT
CONTROL IT
MONITOR IT
You can read the full article HERE.
As leaders, we are all called to take risks at one time or another, and each of us will take different risk based on our experience, our confidence and on how we assess and identify the real risk. There is no rule that works for everyone.
Years ago, we had the opportunity to purchase a piece of property to develop a retreat center in Latin America. We had vision, we had a clear idea and purpose, we had identified a property, and we were excited about the potential of this dream.
The problem was that we didn't have any money.
We eventually made an offer on the property, we found a little money we put down as a non-refundable deposit (which we couldn't afford to lose this) and we asked for 6 months in order to raise the capital needed for the purchase. There was risk all over this decision, and we knew that we might fail.
However, we had done some risk assessment:
We felt confident that God was leading us and calling us to pursue this dream.
We had an army of people that believed in us and in the vision.
We saw clearly the long-term benefits and the potential, and they were incredible!
We weren't afraid of failing, believing that God would show us something even better.
Lastly, I remember standing on top of the mountain asking my leadership team if we were all on the same page. Each of us: Phil, Rick, Bladimir and myself, as well as the larger team, all felt confident that we should do this.
It was a huge risk.
That risk has paid HUGE rewards and dividends in the stories of lives that have been impacted by El Refugio in Ecuador.
Don't be afraid of taking risks.
Each of us need to define a system of risk assessment that we will rely on over time, and we'll get more and more confident as we learn to assess and respond to the risk and opportunities that present themselves to us.
"It always seems impossible until it is done." Nelson Mandela
"The biggest risk is not taking any risk" Mark Zuckerberg
"I sought the Lord and he heard me, and delivered me from all my fears."
Psalm 34:4
Things I'm Reading, Listening To, an Watching This Week:
This book challenged me a couple of years ago thinking about RISK. It was a top book for me in 2019 and continues to challenge my thinking. SMALL GIANTS by Bo Burlingham. Another good book that addresses risk is Lencioni's FIVE DYSFUNCTIONS OF A TEAM. This talks about the risk to an organization when the team isn't functioning it's best. Another top book in my library.
I enjoyed listening to this album from 1992 again this week. Patty Smyth on Apple.
Someone recently asked me what kind of external camera I use on my computer when I Zoom. I've been using this Logitech Brio Camera, and it provides great clarity and a bright image. I need all the help I can get!
Men in Kilts, A Road Trip with Sam and Graham. We stumbled across this show, and have enjoyed seeing much of Scotland through the eyes of these Outlander stars. Scotland is on my list of countries to visit someday!
Here's a great quote by Patrick Lencioni that talks about RISK but also TRUST. Think about this in your own life and leadership:
“The most important action that a leader must take to encourage the building of trust on a team is to demonstrate vulnerability first. This requires that a leader risk losing face in front of the team, so that subordinates will take the same risk themselves. What is more, team leaders must create an environment that does not punish vulnerability.” Patrick Lencioni