I know, I know. This is contrary to what your (and my) mom taught you and probably tells you to this day, but I'm going to tell you -- take RISKS! Take risks in business, in marketing, in life, and everywhere in-between. I'm not saying do something completely stupid, and let's say, jump off a sheer cliff with out a parachute or safety apparatus, or drive 100mph down the 101. I'm saying take (calculated) risks, get out of your comfort zone, grow, learn, meet people, and do it while you can. Do it before getting out of bed to fast or walking to the bathroom unassisted becomes a risk. I am being a bit humorous here, but it's true, life moves fast and if you ask your grandparents, or parents for that matter, what they regret the most, more often than not it's the things they didn't do. So, the moral of this (blog) story is to take risks, assess the situation, do a thorough analysis -- is it worth it? What are the benefits? What are the costs and potential consequences? What is the likelihood of coming out on top? Whatever you do, don't become complacent -- keep moving forward, innovate, disrupt, become a better person, more informed, more educated -- be the best at what you do, and who you are.
Take risks in Business:
It is a known fact that we are now operating in a global economy -- competition is fierce, buyer behavior has changed, large corporations no longer have a dominant grip on the market, technology is affordable and accessible to all, I can go on and on. So how does a company (maybe yours) standout and capture a profitable share of the market? By taking risks! No longer is the "old way" of doing business a viable option. Businesses must step out of their comfort zone and become innovators and disruptors. Innovation does not have to be some radical, technological advancement, nor does it have to come with a significant amount of capital investments. It can be as simple as offering a product/service in a better more efficient way than the competition; or it can be a minor incremental innovation to an existing product/service. It can also be a change in company culture or something as simple as hiring an individual that does not necessarily have the same background as everyone else -- diversification. Taking risks in business should always be calculated and well thought out through thorough market research and quantitative and qualitative data analysis. A few companies that either are or have taken significant risks are: Tesla, Virgin, Zappos, Apple (Steve Jobs era), and Netflix; all of which have or are changing the way we think and interact in our day-to-day lives. The two major things that they all have in common are great leaders that believe in what they are doing and have entrenched a culture that curates this behavior. After all, consumers really have no idea what they want.
"If I had asked people what they wanted, they would have said faster horses." ~ Henry Ford
Take risks in Marketing:
I have written about how to standout amongst the marketing clutter in the past, however, having just read the Fast Company article "This Company's Brilliantly Sassy Branding Strategy Makes Yours Look Sad And Boring" by Elizabeth Segran, I was inspired to write about the importance of taking risks, particularly in/with Marketing. The article goes into the branding strategy of a privately owned small business called, Manhattan Mini Storage (MMS), and how their messaging is pushing boundaries to the point where it can sometimes be seen as offensive to certain demographics. It is really a great read, and aspiring to a marketing guru such as myself.
The majority of brands (small and large) are afraid to take a chance and go with out of the box messaging to attract attention and capture market share. In reality, this strategy is ideal in today's super saturated and hyper digital world, where we (the consumer) are exposed to 1000s of messages/posts a day! So you offend some people that are not in your target demographic -- no big deal, as your target will appreciate your honesty and more often than not, will become even more loyal to your brand. After all, even the bad press will attract others in your target market that otherwise may not be aware of your product/service, like myself as I have never heard of MMS. This is especially true in today's polarized world. Take a stand for what you believe in and let people know what your brand is about, be honest, push some boundaries, shake things up, and most importantly, OWN IT.
Those of us in California know all about the Carl's Jr. commercials. They pretty much said, screw it, everyone else is pushing towards the health conscious movement, with conservative, family oriented content -- not Carl's Jr. They are going right for the 18 - 30 year old male demographic, with no shame -- head down and charging. Is it working? Can't say for sure, however, I would bet if it is working, it is solely due to the fact that they have committed to it and are owning it.
Take risks in Life:
The same principals for taking risks in business and marketing can be applied to life. Let's face it life is short! If you feel as if you need a change and are contemplating your decision, evaluate the positives and negatives, and if they weigh out -- do it! Yes, it can be overwhelming or scary at first, leaving your friends and family behind, etc. However, if you don't take that risk and go all in, chances are you'll regret it. If you don't believe me, ask your elders, I guarantee they will say go for it! There are countless articles out there, blogs, etc., that speak on this so I'm not going to elaborate further, but it is a fact. Risks in life can be anything as simple as going after the girl you want, telling someone how you really feel, getting a new pair of glasses, meeting new people, trying a new food to more risky: a career change (not an easy decision, believe me), furthering your education (best thing I've done), moving out of your hometown (not that bad), skydiving (on the agenda), starting your own business (stay tuned), having kids (maybe), etc. Bottom line is, when you make the decision to take the risk, go for it, jump in with both feet and give it all you got -- things have a way of working out as long as you commit to it. I'm not sure who says this (I could look it up but...), "You get out of life what you put into it."
As always, I'd love to hear your comments on this topic, so please leave comments if you desire.
PS - If you are in need of any Business and Marketing consultation for your small to mid-sized business/start-up feel free to shoot me an email at: modernbizstrategy@gmail.com.
Cheers,
ModerManTellsAll
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