Increasingly, we’ve been hearing from business and community leaders, clients, and participants in the Expedition Program about the risks they are noticing around them. Whether they are concerned about the economy, industry changes, personal growth, or something else entirely, more and more people are becoming mindful of risk, for themselves and their organizations or businesses. Often, they have plans in place to proactively mitigate risk, but we want to challenge them to go deeper.
Risks are often unknowns, but embracing the unknown can lead to new outcomes and new possibilities. Instead of focusing solely on the potential downsides of risks, how can they think about the upsides? By reframing risk as opportunity and applying other principles of Exploratory Leadership, you can more clearly navigate the unknown, motivate others, adapt to your surroundings, and thrive in uncertainty.
From economic downtowns and supply chain barriers to public health risks and personal investments going unreturned, everyone faces risks. The potential risks in the world are innumerable, so for the sake of clarity, we will focus on individual risk, organizational risk, and industry risk. Understanding these examples of risks you may face will help you identify them and others when they occur, begin to plan for them, and reframe them as opportunities.
Risk is part of life. However, that does not mean that you need to shy away from risk, or work to remove risk from everything you do. All these actions focus too closely on risk as a downside, which prevents you from seeing the bigger picture and asking yourself, “what opportunity will emerge from this moment?”
One Exploratory Leader who we feel embodies this practice is Ryan Holiday, who is a bestselling author and media strategist. Holiday pushes himself and those around him to see opportunities where others see obstacles. Like with risk, obstacles can be viewed as opportunities to improve, grow, and discover new possibility.
Holiday encourages us to strengthen our problem solving and thinking like we would strengthen any other muscle, and that requires thinking creatively and reframing how we view certain situations. This practice allows us to control the outcomes of the events that we participate in, because it allows us to choose how we will define success. We call it reframing risk as opportunity, Holiday calls it seeing opportunities where other see obstacles, but no matter how you frame it, the practice remains the same. Take a situation that is unknown, and grow through it.
We’ve provided a chart to help demonstrate how various risks can be viewed as opportunities with the right mindset, so you can take this abstract concept and bring it to life.
Risk |
Opportunity |
| An economic downturn or recession could negatively impact organizational operations and profitability. | Refining operations and streamlining where possible can protect the business and ensure long-term growth and prosperity, regardless of economic impacts in the future |
| A challenging hiring environment makes finding and retaining team members challenging. | Being intentional about organizational culture and organizational design and processes opens the door for improvements and innovations that can energize your existing team and set your business apart for potential employees. |
| Public health guidelines changing often could reduce the amount of in-person collaboration across the team. | Adapting to online and hybrid meetings can allow team members more flexibility to work however works best for them, open the door for talented remote workers, and create new opportunities for you to rethink collaboration. |
| Supply chain barriers and shipping delays could lengthen the time a customer has to wait for a product, which could upset them. | Communicating about delays can give you the opportunity to engage more deeply with customers, which could crystallize their loyalty and give them the opportunity to provide feedback that improves organizational operations. |
| Making an investment in a leadership program could be an expense that is not recuperated. | Investing in yourself and your growth can teach you new skills that can be applied to your personal and professional life; you can learn new things about yourself and find more contentment. |
| Current events and ongoing challenges could lead to burnout and disengagement. | Noticing that you are feeling burnt out can be an opportunity for you to reassess your purpose, your goals, and what brings you satisfaction, so you can realign your actions with your vision for your life. |
Risks are often uncomfortable because they are associated with the unknown, so many people avoid them. However, if you are able to embrace the unknown, you will be more equipped to navigate it, which will allow you to discover more opportunities and be more successful in the long run. The principles of Exploratory Leadership, paired with other tactics for changing your mindset, can support you as you figure out how, exactly, you can begin to change your thinking to reframe risks.
Embracing the unknown means embracing risk. When you break down your life into categories of risk, like individual, organizational, and industry, you are better prepared to think critically about how risk can become opportunity. Using the principles of Exploratory Leadership, you can embrace the unknown and navigate through it to achieve better outcomes, discover new possibility, and motivate those around you to do the same.
Interested in learning more? Our Expedition Program will teach you and a cohort of peers the seven proven principles of Exploratory Leadership across 12 weeks — and connect you with a learning community you can collaborate with. For more information and to apply, visit our website.