We believe that, like us, most people set goals, and in the process of doing so consider all the steps they’ll have to take to achieve them. They ask themselves questions like, “What are the actionable steps to take?” and “How long will it take to achieve these goals?” By answering these questions, they can start to make plans, asking “If we want to achieve that goal in 3 years, what has to happen in the first year?” To better define the steps, they may break them down further, determining what has to happen in each quarter, or even what they should be doing each week.
For what it’s worth, these are all sound ideas; after all, if you want to achieve your goals, you must take action and be prepared for hard, diligent work. But what if we told you that putting in the work is just one piece of the puzzle – and that it’s the easy part? Wrapping your head around the amount of time and effort you will need to invest to make an endeavor successful is definitely a step in the right direction – but it’s not the whole picture.
We have found that there’s another piece of the puzzle that often gets missed: the other side of the equation that’s equally important, if not more so. In this article, we will be looking at a shift in mindset that allows you to leverage an inevitable part of each venture, turning a common obstacle into your biggest motivation.
The Other Side of the Equation: Giving Up
This missing part of the puzzle that is so rarely discussed is the ‘risk’ of pursuing your goal. In addition to what you’re willing to do to get to where you want to go and achieve your goals, you must also consider what you are willing to give up.
These decisions might range from leaps that are as big as a lifestyle change for you and your family to something as trivial as giving up the time you spend watching your favorite TV show, and everything in between. Most times, if you believe your risk to be greater than your possible reward, chances are you won’t take the leap.
What are you willing to give up?
After you have gone through the first step committing to a goal, it is time to get into the second step: deciding what you’re willing to risk. Will it be worth it if you lose those things in the process of obtaining your goal? These risks take different forms for different people depending on the circumstances and what you need to give to achieve your goal:
As humans, we have a natural tendency towards stability rather than leaping into the unknown. This comes in different forms, including job security and financial stability. People may not be willing to take risks at the expense of their stability such as:
- Giving up the comfort and security of a solid-paying job in pursuit of more entrepreneurial endeavors.
- Giving up their preferred place of residence to move closer to opportunity.
- Investing a huge amount of money for the possibility of greater returns. You might have big dreams, but you aren’t prepared to risk your financial stability by potentially losing money in a new venture.
Some decisions call on us to sacrifice our relationships. Maybe this is a current business partner who won’t step with you into your future plans. Maybe it is the time you normally spend with family and friends, which you now need to invest in your business. We sometimes have to make the difficult decision to be less invested in certain relationships, whether for the short term or the long term.
3. Leisure / Instant Gratification
There are few endeavors that do not involve giving up your weekend plans, social life, extra sleep, hobbies, and vacation plans for a period of time.
Other Things We Have to Give Up/Let Go:
There are also many bad habits that we have to let go of to attain success. Although we can all agree that these are things we ought to let go of, it can feel like taking a risk because they are the norm we are used to. But change is a risk we must all take if we hope to get different results. In reality, holding onto these bad habits is the greater risk, as it jeopardises your ability to achieve your much-desired rewards. These things include:
There is so much we have no control over, and simply can’t influence no matter how hard we try. In such moments, or on such days, learning to let go of your worry and leaving it to God is the healthiest decision you can make to grow.
Fear of Failure
As humans, we have an innate desire to succeed. While this propels us to strive to attain the highest level we can, it can cripple us in one spot when we concentrate more on not failing than on doing what we can. Letting go of this fear of failure will help you to give whatever you are working at your best shot.
One constant in our life is the past and all of us have parts of it that we would rather have handled differently. Unfortunately, the truth is that we can’t go back to the past, and holding on to it can never help you achieve a better result: it simply leads to a downwards decline. Today, decide to let go of your regrets, while reflecting on what you can learn from the experience and changes you can make to become a better version of yourself. This helps keep your focus on the future, and draw you forwards to your goal.
Why is Risk Analysis Important?
You might think that the idea of sacrifice is a given. When you say you’re committed to doing something, you’re automatically committing to giving something else up. But, in our experience, something happens when we fully acknowledge the sacrifices (big and small!) that we’re about to make, and realise that we’re still willing to pursue that particular goal. We are more dedicated and more likely to succeed when we are fully aware of all the sacrifices involved.
We have also realized that the process of naming the risks that come with pursuing certain ventures helps us decide if they are worth pursuing. When we decide the venture is valuable but the risks are too dear to take, having the risks identified in this way helps us come up with a point of compromise for the risk and the venture.Final Thoughts
What we are willing to give up to achieve our goals varies from individual to individual – we each have different definitions of needs and values. Despite these disparities, next time you set your goals and think about what you’ll have to do to achieve them, and don’t forget about what you’re prepared to give up. When deciding on the risks you are willing to take, we hope that you stand firm with your values and the things that matter the most to you, as nothing is worth risking them for.
What we are willing to give up to achieve our goals varies from individual to individual – we each have different definitions of needs and values. Despite these disparities, next time you set your goals and think about what you’ll have to do to achieve them, and don’t forget about what you’re prepared to give up. Become clear minded about the sacrifices necessary,yet stand firm with your values and the things that matter most.