540 | The Pros & Cons: Becoming a Risk Taker

The Chris LoCurto Show

Use the timestamps below to guide you better as a leader or individual:

• Are you a risk taker? 0:00
  • Three big things leaders need to consider when deciding whether or not to take that risk and what they may risk by not taking it.
  • Are you a risk taker?
• Intro to today’s show. 1:47
  • Today's episode will examine ways to assess risks and what might be holding us back from taking necessary and important action in the face of uncertainty.
  • This show is about making better decisions.
  • When it comes to risk, brian enjoys taking risks. He has raced formula cars and is a multi-business owner. He likes to calculate risk.
  • He asks the question, how could this fail? What could failure look like? He wants to know the potential risk and potential loss.
• Taking a leap of faith. 5:50
  • When joel started his business, he took a big leap of faith, and it became way more than he thought it was going to be in the beginning.
  • He has done over 500 next level life change programs, including a scholarship program for single moms and single dads.
  • Take the leap of faith. God is not calling you to anything that's going to fail. god's never going to call you to something that goes against him.
  • Three big choices to learn as a risk taker, starting with taking baby steps.
• Understanding your capacity and understanding your weaknesses. 11:18
  • The biggest risk is not taking any risks at all, and not knowing what your capacity is or how to live life to the best.
  • Keys to understanding your capacity.
  • If you don't take risks, failure will be your master, not your teacher. Failure is the greatest teacher for the student who is willing to learn.
  • The five aspects that allow you to fail, as long as it's not a fatal failure.
• How he started investing in real estate. 15:56
  • He started investing in real estate when he was 10 years old and wanted to own real estate as a kid.
  • He has a couple of real estate companies.
  • Putting money back into people as a resource to change lives and impact more people.
  • Hiring marketing people that didn't make things happen over the decades.
• Embrace failure, not fear. 19:51
  • Number two is embracing failure, not fear. Failure is part of any learning process, but fear keeps us bound to mediocrity.
  • Fear is a colossal waste of time.
  • Fear is an incredibly small percentage of the fear that you experience in a day, but it creates all the rest.
  • The bulk of fear is being afraid of man's opinion.
• Healthy people vs toxic people. 24:00
  • The opinions you should be concerned about are the ones that come from healthy people who know what they are talking about.
  • The victim mentality that is going around right now.
  • How spending time around people who are victims leads to becoming one, and how to make better decisions in life.
  • The importance of constantly gaining perspective and asking for opinions.
• Do not fear failure. 28:10
  • It's okay to fail, just don't do fatal failures. Learn what happened and how to fix it. Learn how to identify failure and teach and grow people in the situation.
  • Number three, calculate the risk. First, what fear is the fear, and why fear is imaginary.
  • If this thing fails, ask how can it fail. The first question to ask is, how can this thing fail?
  • If it fails, consider how it will affect you, your family, your kids, your team, your business, or how it could affect others.
• How much is this going to cost me? 33:48
  • Ask how bad the risk is on a scale of zero to 10, and how badly it will impact people, finances, etc.
  • Start small and take baby steps.
  • If people love the tacos, then upgrade to a food truck. If people love them, then go ahead and do a brick and mortar, but start small.
  • If the decision is starting a new business, there is a ton to calculate if it is a new idea.
• How to boost your risk taking bandwidth. 38:30
  • Five things you can do today to help boost your risk taking bandwidth, clarify goals, consider the rewards and potential benefits, surround yourself with successful risk takers.
  • Become comfortable with change.
  • Mark Twain, 20 years from now, you will be more disappointed by the things you didn't do than by the ones you did.
  • Check out crystal crypto's executive coaching program.