“He who is not courageous enough to take risks will accomplish nothing in life.” – Muhammad Ali
It’s true – nothing great can be accomplished without risk. But that doesn’t mean we have to take all the risks at the beginning.
The way I see it, there are two main ways to start anything: with a bold leap of faith, or a with a quiet step forward.
You can quit your job and move across the country to build your dream company – or you can work on it a few hours each day after dinner, making the transition only after you’ve laid a strong foundation.
Some people relish the risky leap, but I much prefer the low-risk start. Just last week, my business partners and I signed the official paperwork for a new startup that’s been riding quietly on top of our established company (and established income stream) for several months now. We’re not scrambling to make ends meet; we can take it slow. That’s a low-risk start.
I build this blog a few hours at a time, during my lunch break, after dinner, on weekends. I’m building the framework of my ideal life, of my great work, piece by piece. A low-risk start.
The low-risk start is:
- Building a habit with a ridiculously easy first step.
- Starting a business “on the side,” without dropping your day job.
- Doing what you love in your off time.
The low-risk start is not the “no-risk” start. You always risk something, whether it’s your money, your reputation, or your beauty sleep. How much you feel comfortable putting on the table is up to you.
Also, the low-risk start doesn’t preclude the possibility of much bigger risk in the future. Sooner or later, my partners and I will have to trust our new startup to stand on its own. Sooner or later, I’ll have to make a transition from my current lifestyle to the one that I’m slowly building. The leap of faith is waiting – but until I’m ready, I’m willing to let it wait just a little longer.
Benefits of the Low-Risk Start
In general, the low-risk start works best for people who are adventurous and ambitious, but also pragmatic.
- Lower barriers to entry. It’s easier to get started when your world isn’t riding on your success and when you’re not endangering your current obligations. You’re not forced to gamble your current financial stability. You don’t have to steel yourself psychologically for the leap. You don’t have to spend as much time convincing your family and friends that this is the right thing to do.
- Less pressure. Say you’ve resolved to be more productive this year. Instead of locking yourself in to a rigorous new work schedule and risking total burnout, you can start with a simple, flexible productivity system. If you mess up, it’s okay. You try again tomorrow. There’s less pressure, and sometimes that makes it easier to persevere.
- Smoother learning curve. When you start small, you have plenty of time to experiment and learn. We’ve had time to see how a few people respond to our new company’s offerings and prices. I’ve had a chance to screw up my first blog, scrap everything, and start over. I’ve had a chance to find my voice.
- Opportunities arise magically. Okay, so it’s not magical. But I’m always amazed at how, when you commit to doing just a little every day, people and circumstances come together to open doors for you.
Problems with the Low-Risk Start
- Lower sense of urgency. When you have time and money to spare, it can be easy to get complacent or lazy. In starting a business, for example, it can be hard to push through without the constant pressure to become profitable. In building a habit, a ridiculously easy first step can rob you of your enthusiasm for making a dramatic life change.
- May not apply to all goals. If you’re starting an online business, slowly building it at night and running it out of your house is perfectly possible. On the other hand, if you’re trying to build a factory to make widgets, the need for expensive space and machinery makes it difficult (though not impossible) to start without a significant risk.
- Can become a crutch. The leap of faith needs to happen sooner or later. If you get too comfortable in low-risk mode, it’s easy to keep pushing back the big moment until the opportunity’s gone and it’s too late to get it back.
***
I’m a low-risk start kind of person. That’s what makes me tick, what keeps me motivated. It’s worked out well for me so far.
But even I’ll admit there’s times when go-big-or-go-home is better. When I quit video games, for example, I had to quit cold turkey because of the nature of my addiction.
And right now, I’m pushing myself to take some of my low-risk pursuits to the next level. I’m getting stricter with myself on the productivity front (more on this in a future post); I’m working to solidify the business model for the new startup (and find more clients, of course); I’m expanding into new areas online. So I’m waging a battle now for that sense of urgency.
What about you? How do you start things? With a bang or a whisper? And how do you know when it’s time to take it up a few notches? Can I help?
***
So Chris Guillebeau has, once again, beaten me to the punch with the interview with Tsilli Pines he published yesterday. An inspiring, real-life application of the low-risk start – go read it! I promise, I planned this post long before I read Chris’ interview. Sigh.
Jon over at Balanced Bits posted a great guest article about work-life balance from Jeanne Murray.
Along the lines of taking the low-risk start to the next level, here’s a blog post from the Harvard Business Review about how startups need to balance organic growth and structured process. It’s a little denser, but a good read if you have time and are interested in startups and small business. Plus it’s from Harvard.
Have a great day, everyone. Start something. And don’t forget to let me know if you’ll be in town for SXSW.
See you tomorrow!
18 Comments on “The Case for the Low-Risk Start”
says:
Great post. I don't think this approach gets enough recognition.
For some people, a low-risk start is the only viable option, but I know sometimes people assume that if they're not ready to take a bold leap of faith, they're just plain not ready. And that's just not true.
Just start, and even if you start slow, you'll get where you're going. What could be more encouraging?
says:
I think a big part of the method of entry is your current situation.
If this were about 8 years ago, I was finishing up school, not married, no kids, no mortgage, the all-0ut approach might be better for me. I like the pressure of everything resting on my shoulders and being forced to perform.
However, I sit today married, mortgage, and 2 kids. I can't up and quit my job and put all my energy into my blog/business and just deal with the first couple months of building a platform, networking, and getting my name out there. So at this point in my life, the low-risk start is the way to go.
I do agree with the drawbacks – there are definitely days where I could use the added pressure to perform. But right now, with other responsibilities, it's the right choice. It may take a little longer to make things happen, but they will!
says:
Jeffrey, you've explained this strategy far more eloquently and clearly than I ever could. I agree with Karo that this approach doesn't get nearly as much air time as it should, probably because the Go Big or Go Home play sounds so much sexier. That's why I love folks like Pam Slim (http://www.escapefromcubiclenation.com), who really emphasize building brick by brick. It suits me much better, personally.
Making mistakes when the stakes are small — both in the sense of audience and finances — was an absolute must for me. Building something slowly over time has the added benefit of being more sustainable. Violent, overnight changes are harder to make sense of and fit into the overall vision of your life. Constructing the right business to align with your life goals is best done one step at a time, so you're sure you're building a house you really want to live in.
That having been said, it does take a lot of discipline. But I think it's so much more doable for most people. And Ye Olde Myth of the bold, risk-immune entrepreneur just doesn't describe most people I know who run successful lifestyle businesses.
Thanks for the great post!
says:
Tsilli,
Thanks so much for coming by! I appreciate the compliments on the post, but
I think you're selling yourself a bit short here. I loved the interview you
did with Chris, and I found your answers very clear and eloquent, especially
when you shared the lessons and principles (manage expectations!) that
guided you through the process.
And this: “Constructing the right business to align with your life goals is
best done one step at a time, so you're sure you're building a house you
really want to live in.” Exactly how I feel.
Thank you again, Tsilli, and best of luck with your business!
P.S. – I'm a fan of Pam as well; was actually lucky enough to be in the $100
Business Forum group that she and Chris held this February.
I also just discovered your collection of desktop wallpapers. What a great
concept! Switching my wallpaper now :)
says:
Jeff,
This is another really nice post. Research shows that we generally address risk very poorly, and that leads most people to take too few risks, rather than too many. Getting in the habit of taking risks — and one way is the one you propose — is the only way to break through these inhibitions.
Ted
says:
Hi Jeffery, nice post. This post fits nicely with the theme of your blog. I think if we want to achieve great things, we will need to take risks. I like how you broken it down between big risks and small risks, as there are always pros and cons for both. It's like if someone was afraid of the cold water in a swimming pool, they can either jump straight and get it over with in or step in one step at a time. Both methods are cold; but one method just takes a lot longer than the other.
says:
That's pretty much the line of thought that keeps me going: I don't have to
get there tomorrow, but as long as I keep moving forward and stay alert for
opportunities, I'll get where I'm going.
But it comes down a personal decision, I think, like so many other things in
life. Are you a low-risk start type of person? Can you start small but stay
steady? Or are you wired to put the big push at the beginning?
says:
Situational factors definitely play a big role. One of my goals is to
convince people (and myself) that just because certain options aren't right
for you doesn't mean you have to give up entirely. The all-or-nothing
approach works for some people, but it can be very discouraging (and without
good reason!) to people who have to work around very real obligations and
barriers.
And from what I've seen, Mike, you're doing great.
says:
I agree, Ted. I'd add this: it's important to recognize that taking a risk
just requires an honest commitment of time or attention or resources, not
necessarily a grand display. You start with what's within your grasp, and
the inhibitions slowly fall away.
Of course, you run into the occasional person who seems to have no
inhibitions, for better or worse…
says:
Right on, Hulbert. For sure, time is a big differentiator between the two
approaches. One potential drawback of the low-risk approach is that it can
take longer to get where you're going. On the other hand, you have more time
to fine-tune your approach along the way. Just something we each have to
decide for ourselves.
Thanks for joining the conversation!
says:
You're so kind! I'm glad that the lessons and principles were helpful. Some of them have been very hard won, but those are the ones you never forget, eh?
Thanks much for the well wishes. I'm looking forward to reading more from you. Enjoy the desktops!
says:
Great point. By the way, I will be making a post on risk that will refer to
your entry. Ted
says:
Yes, I'm definitely about the low-risk starting. It used to be no-risk no-starting because I really thought the only doable approach for anything meaningful was all or nothing, and I didn't have the guts to go balls out.
I think we're kind of conditioned to believe in bold fearlessness and relying on luck and magic to some extent. Don't know if you've read Malcolm Gladwell's “Outliers,” but it touches on that culture of believing in randomness or genius or spectacular talent, and not really wanting to put much stock in persistence, opportunities, and hard work. Look at Susan Boyle: she seemed to be an overnight sensation, but she had been getting singing lessons for most of her life. She had spent a lot of time preparing for the performance that brought her out of obscurity.
Then look at all the products that promise quick weight loss. Again, it's the chubby before and the tan, sexy after, in just six weeks, or whatever time frame they give you. It's like success matters only if you achieve it quickly, chasing it at a breakneck pace.
Once you give yourself the time and permission to get to your destination more slowly and mindfully, I think you're more likely to create things that are substantial and lasting. All you have to do is sustain focus and effort.
says:
Jeffrey: Amazingly helpful post. I couldn't agree more that you have to determine what will work best for you when it comes to making transitions and taking risks. So often the only advice you see is to just go for it, but as you pointed out, there are other options. Either approach can ultimately prove to be successful, but the most important thing that will set us up for success is doing what we know we can believe in and have confidence in our approach. Really liked this one…very helpful.
Also, thanks for the mention in your last post. I really appreciate it and have also had a great time reading your posts and being a part of the Art of Great Things community.
says:
I’m doing a distinctly low-risk start with thesimplerlife.net right now, actually. I’m not sure whether or not this is going to be the key to it’s success, but it’s working so far.