Any big career move involves taking a risk. Whether you leave your nine to five job to pursue a passion project, accept a new role in a different department, or move to a new city for a career opportunity, it can be daunting to make a big transition.
Luckily, risk-taking doesn’t have to mean making a blind decision and hoping for the best. Rather, you can weigh all the pros and cons of an outcome with calculated risk-taking. You can carefully consider each step of the risk and have a strategy in place to handle any outcome.
There are helpful steps, tips, and tools you can use to assess risk. Use these to your advantage before making a decision. To start, break down the end goal into smaller micro-goals. Make a list of what could go wrong if you make the move. It can include a breakdown of your finances or budget, how you will work things into your schedule or calendar, and potential new routines.
Schedule checkpoints for yourself to see what type of progress you’re making. The more you understand all potential costs to that risk, the better you can improve its outcome.
For a helpful breakdown on how to take calculated risks, view the visual from Valpak below. It covers helpful steps to calculating risk and entrepreneurial business examples who have seen success with this method.