How Do You Define Risk?

Welcome back!

It’s great to have you here for this Tuesday’s edition of the newsletter.

For today, I want to talk about risk.

Because here’s the thing that most people struggle to understand: everything is a risk.

I know, we don’t usually think of it this way.

But let’s step back and consider something many people claim: a W2 job is more secure than running your own business.

That bastion of security, the W2 job, isn’t really that secure. In fact, if we’re looking strictly at income security, relying on a W2 job is a pretty vulnerable position to take.

Any day, you could walk into the office and be told you’re being let go for whatever reason: the company is laying people off, your boss didn’t feel like you were giving it your all, the company is going under, etc.

Economic recessions and company mismanagement are outside of your control.

But you know what’s inside your sphere of control? How hard you work to get a new client or keep an old one, how many hours you put in to make sure you provide an excellent product or service, or how many clients you want or need to be able to handle at a time.

So you tell me which is the more vulnerable and, therefore, the more risky position.

It’s not that not investing is not a risk and investing is, or not starting a business is not a risk and starting a business is.

Rather, if you choose not to invest, you’re betting that the investment was not the best place for your money. If you choose to be a W2 employee, you’re betting that you won’t get laid off or fired. Both of which are risks because you could lose that bet.

That stock might turn out to be the next Apple or that job may offer a great retirement plan you could’ve taken advantage of.

So, when you’re faced with a decision in your business or personal life, remember that each option carries some risk.

Look at your options and ask, “What risk is present in each of these? What risk am I comfortable with in this situation?”

Asking those questions will give you a clear idea of the options facing you and how you might want to move forward.

Asking questions like this can also help you manage your expectations.

If you’re expecting certain difficulties or you’ve already thought through certain risks and something does happen, you’re ready for it.

So, recognize that all of life is risk.

You’ll find you’re much better prepared for difficulties when they come.

Thanks for reading!

Thanks for reading!

Eric Higgs
Founder of Summit Group
Newsletter & Email Marketing Agency

P.S. Whenever you’re ready, here’s how I can help:

• If you’re reading this online, join over 3,500+ subscribers receiving regular emails helping them build, automate, and grow their business with email.

• If you’re struggling to grow your newsletter, click HERE to learn more about Summit Group, our full-service newsletter agency.