Embracing the Fear: How Taking Risks Can Lead to Success

Embracing the Fear: How Taking Risks Can Lead to Success

In a world where comfort and stability are often prioritized, the idea of stepping out of our comfort zones and embracing fear can seem daunting. However, many successful individuals and organizations have emphasized the importance of taking risks and pushing ourselves beyond our limits. It seems that everyone, from mindfulness app Headspace to reputable publications like the Wall Street Journal, is talking about the power of confronting our fears and making bold moves.

One example of an organization that is currently navigating the aftermath of a risky decision is Providence Health & Services. After experiencing significant losses following its split from Southern California health system Hoag, Providence is still working towards recovery. The system reported a net loss of $232 million in the first half of 2023, compared to a loss of $5.24 billion in the previous year. These losses were primarily attributed to staffing shortages, delays in reimbursements, and the financial implications of the split.

Despite these challenges, Providence remains focused on its goal of recovery. The system's Chief Financial Officer, Greg Hoffman, acknowledges that taking risks inevitably involves facing setbacks and losses. However, he also emphasizes the importance of perseverance and learning from these experiences. By continuously adapting and refining their strategies, Providence aims to overcome the obstacles they face and ultimately achieve financial stability.

This resilience displayed by Providence serves as a reminder of the value of embracing fear and taking calculated risks. In today's rapidly changing world, organizations and individuals who are willing to step outside their comfort zones are often the ones who thrive. By pushing the boundaries of what is familiar and safe, we open ourselves up to new opportunities and possibilities.

So, how can we apply this mindset to our own lives and careers? Here are three actionable pieces of advice to consider:

• 1. Embrace discomfort: It's natural to feel uneasy when faced with the unknown. However, instead of shying away from these situations, challenge yourself to embrace discomfort. Take on projects or tasks that intimidate you, seek out new experiences, and be open to learning from failures. By doing so, you'll expand your capabilities and develop resilience in the face of adversity.

• 2. Set ambitious goals: To truly grow and progress, it's important to set ambitious goals that push you beyond your current limits. Don't settle for mediocrity or complacency; aim for greatness. By setting high expectations for yourself, you'll be motivated to take the necessary risks and put in the effort required to achieve your goals. Remember, the journey may be scary, but the rewards can be immense.

• 3. Seek support and guidance: Taking risks can be daunting, but you don't have to do it alone. Surround yourself with a supportive network of mentors, colleagues, or friends who believe in your potential and can provide guidance along the way. Their insights and experiences can help you navigate challenges and provide you with the confidence to face your fears head-on.

In conclusion, embracing fear and taking risks is not only a common theme in today's discourse but also a key driver of success and growth. Organizations like Providence Health & Services serve as a reminder that setbacks are a natural part of the journey, but with resilience and a willingness to learn, they can be overcome. By incorporating the advice of embracing discomfort, setting ambitious goals, and seeking support, you can unlock your full potential and achieve remarkable things. So, embrace the fear, take that leap, and watch as your next big move propels you towards success.