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Risk and Reward: Embracing Change in Your Business

Risk and Reward: Embracing Change in Your Business
July 23, 2019
Most of us are not eager to jump from the safety of our comfort zone straight into the arms of possible failure. As wedding professionals, we may fear the consequences of straying from the traditional and taking risks, so we play not-to-lose instead of playing to win. Being an entrepreneur and building your wedding business from the ground up can make you feel very protective over your work. Reasonably so, it’s understandable that you are careful in order to ensure the longevity of your past efforts. However, consider whether you are at a standstill and are unsatisfied with the current state of your services. If you aren’t where you want to be and are looking to grow and innovate, then what do you have to lose?

 

Some of the most successful entrepreneurs are where they are because of the risks they were willing to take. It’s more detrimental to remain complacent, while taking calculated and smart risks will propel you forward. You have to be willing to hug the failures, learn from them, and consider them a stepping stone to future success. Here are three steps to cultivate a risk-taking mentality:

1. Assessment

Risk taking is not about going in blind and throwing everything you know out the window. There’s a difference between being bold and brave and being reckless. You must first consider these questions before making any big decisions:

  • What is your vision? What are your goals and dreams for the future of your business?
  • What could you gain? What could you lose?
  • What will happen if you don’t make any changes?
  • What risks have you taken previously to get you where you are right now?
  • How do you learn from mistakes? How do you handle failure?

2. Embrace Failure

Once you have assessed where you are and what your game plan is, fear may creep in from time to time. But don’t let the dialogue around failure stop you. Mistakes are the road to success. There is no way around it. Start by taking small and gradual risks. If things don’t work out, then keep trying. Set in place back up options in case things don’t go as planned. If things don’t go as planned, don’t let that get you down. It is not a setback. Instead, it’s a step closer. It’s better to have learned from your mistakes than to not have tried at all. Don’t let yourself wonder what could have been because you let the fear of not making it get in the way. If you are making mistakes, you are playing an active role in the future of your brand and product.

3. Breaking and Reinventing

Every breakthrough starts somewhere. The world of wedding planning revolves around tradition, but some traditions could be inhibiting your ability to try something new. Even if your practices are efficient, there is always room for improvement. You have the power to create fresh, new traditions that will wow couples and other wedding professionals. You set your own limits and standards. Modeling intelligent risk taking will influence your colleagues to also take risks. It only takes one person to change the direction and mindset of an industry. Risk taking is one of those behaviors that needs to become a habit in order to become a practice. So now is the time to start. Go take some risks and reap the rewards of your bravery.

 

Hero photo courtesy Planned Perfection and Jasic Imagery

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About the Author

Aisle Planner Editorial Team
Aisle Planner Editorial Team
The Aisle Planner Editorial Team is a collective of creative writers, editors, and former event pros who obsess over weddings and special events—and the businesses behind them! Drawn to refined details, design, and creativity, our team provides intelligent and straightforward articles with insights, practical tips, and expert guidance in putting Aisle Planner's "Power of One" behind your business.

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