October 13, 2021 • 24 mins
Too often we do not recognise the opportunities available to us for what they are. We hold back from speaking up, are too busy to take on that extra project, avoid what is uncomfortable, or maybe don't quite believe in ourselves. There are so many conscious and unconscious biases out there that we really could be holding ourselves back from our own future success.
This is the first in a series of 4 pods were we are going to dig into Smart Risk Taking.
Hold onto your hats as things are about to get very real, very practical and very exciting as we reveal your risk profile, some seriously sticky biases & some handy tools and hacks to move you forward.
Know thy self so you can be the best of yourself!
We are so looking forward to sharing these pods with you!
ELEVATEE CHALLENGE:
This week a chance to learn more about yourself with a short 10 question risk profile.
https://formfaca.de/sm/mrvQZnYLq
With this new found awareness on your risk profile, you will understand what your natural setting is and in following weeks we will provide further insights into likely biases and hacks to getting the most out of yourself whether you are a risk mitigator or the ultimate risk taker.
SHOW NOTES:
A couple of quotes for our topic today:
- Gail Kelly - Back yourself, even if you are not quite ready
- Susan Jeffers - Feel the Fear and do it anyway
- W.E.B Dubois - There is no force equal to a women determined to rise
2019 KPMG Women's Leadership Study
https://info.kpmg.us/news-perspectives/people-culture/kpmg-womens-leadership-study.html
7 Reasons Why Risk Taking Leads to Success
https://www.huffpost.com/entry/seven-reasons-why-risk-taking-leads-to-success_n_3749425
Deborah Perry Piscione, 38min Linked In Session
Use the below link to see this LinkedIn Learning session for free:
https://www.linkedin.com/learning/risk-taking-for-leaders-14145630/taking-risks-to-foster-innovation?autoAdvance=true&autoSkip=false&autoplay=true&resume=true
BOOKS DISCUSSED:
Greenlights, Matthew McConaugh
Winging It, Emma Isaacs
The Risk Factor, Deborah Perry Piscione
Lean In, Sheryl Sandberg
Booktopia Affiliate Code - https://booktopia.kh4ffx.net/elevate
OTHER MENTIONS:
Ginni Rometty, IBM
Naomi Simpson, Red Balloon
Gail Kelly, ex Westpac CEO
Knock down the Hill, Netflix
Music created by Claire's daughter Hannah
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Miranda (00:00):
Welcome to the Elevate with Grace podcast, for women
who are short on time and longto take steps, to create success
on their own terms.
Our aim is to curate and sharethe best tips, insights, and
knowledge from all of thecontent out there.
Then take the brain strain outof it by giving you the so what
and some immediate actionablesteps for you to squeeze into
your life each week.
Through regular action, we willpropel you forward and offer
(00:21):
support as we all create ourpaths to achieving success on
our own terms.
Claire (00:26):
Good morning out there to our gracious listeners.
Welcome to our 6th podcast.
I am your co-host Claire and ofcourse with me is the always
effervescent Miranda.
It's super fab to be back again,chatting about how we can bring
easy, actionable stepsseamlessly into our days and
weeks to help us get crackingwith creating the life we want
for ourselves on our own termsinstead of going through the
(00:46):
motions of the life that othersare designing for us.
Smart risk taking is one of thefive elements of our Elevate
with Grace"Success On Your OwnTerms Model" and so today we are
going to be exploring why takingsmart risks is really important
for making your goals andvisions for your life a reality.
Hopefully you have got an SFDforming around some audacious
goals after listening in to ourlast few episodes.
(01:09):
But if not, then at least a bitof a picture forming about where
you want your life to be in sixor 12 months from now.
If you're a bit stuck, we'd loveto help you if we can so please
drop us an email atelevatewithgrace@gmail.com.
We also really hope that youfound some gems within"The One
Thing" book review last week andthe weekly action challenge that
popped out of that podcast.
(01:29):
Speaking of which, how are youthis morning my gorgeous friend.
How's your week been?
And how did you get on with our"One Thing" challenge?
Miranda (01:37):
It has been a busy one.
And I know we say that all thetime, but for me, this is one of
those weeks where you know thatall the effort now is the right
thing for your future self, butdamn hard in the moment.
Busy, also really energizing.
I will say that I felt thecentering benefits of"The One
Thing" during this busy time,using this technique to focus
both first thing in the morning.
And when those crunch timeshappened, really being
(01:59):
disciplined to take thatdedicated pause, deep breath and
check in what's the one thingthat I can do now, so that
everything becomes easier orunnecessary.
It feels crazy occasionally.
And I think it's something thatI work through, but it does
really does help.
So Claire, how's your week beenand how did you go?
Claire (02:16):
I had some good success with my"One Thing" challenge
over the week too.
I agree with you, the diligencethat the book has inspired me
and I do aspire to that at agreater level.
Last Sunday I did sit down and Iplanned my week for a change and
I spent maybe 30 minutes to anhour just writing down the one
thing I wanted to do this weekfor some of those categories
(02:39):
that we'd spoken about in theepisode.
So for my health and wellbeing,which was meet my best mate,
three times a week for somerunning or exercise.
For my family, which was to setaside devices and spend quality
time with my kids on theirpassions.
My eldest who's 10 as you know,Miranda.
I was helping her foster, hercooking passion that's come
about through our family's loveof watching Master Chef
(03:01):
together, so that was good.
And for Elevate with Grace, itwas setting aside some research
and writing time because you doneed to find time to think and
have some quiet processing timein your days.
And so I put in blocks for whenI would do these things and
mostly stuck with it prettywell, actually.
So yeah, it was pretty good.
Miranda (03:19):
Sounds like an incredible start to this
challenge.
Congrats.
I think one of the mostimportant tips for our listeners
is to just keep at it like agym.
It is going to get easier eachweek and that tips for our
listeners and for ourselves, Ithink.
How incredible that we arealready at podcast six.
Our episodes to date have spokento the big picture of Elevate
with Grace, smashing what'sholding you back, taking actions
(03:40):
on some big goals and thediscipline of constantly
defining your one thing.
From here, we are going to startto take those big picture
visions of how you want to showup in the world and then start
deep diving into this three corepillars of cultivating your
career success, unlocking yourfinancial acumen and taking
smart risks.
We know you're keen to takeaction immediately, so in these
pillars we're going to curatethe best Intel out there and
(04:01):
make it into meaningful outtakesand immediate steps.
Pivotal in all elements of ourlife is our willingness to take
smart risks.
So as Claire mentioned, let'sget started.
We want to talk about riskstoday and why do we need to take
smart risks?
Is it something you have evergiven any thought to before?
We know how hard it is to getout of your comfort zone
especially when life is alreadyfeeling loaded with stress and
(04:22):
responsibility, but there's alot of strong evidence to
support that leaning into smartrisks skills helps you tackle
challenges and opportunities,have greater earning power,
feeling more energized andsatisfied with life, which why
wouldn't we?
Research supports that feelingthat women are falling behind in
the workforce.
We have 55% of undergrads.
And between 4.5 to 7% ofleadership, depending on your
(04:45):
metric.
Traits, like following therules, following the
instructions of authoritywithout challenge, are
absolutely getting in the way.
A quote from the HarvardBusiness Review in school being
disruptive might get you sent tothe principal's office, but in
business, disruption is theproven path to success.
Whoa.
As always an incredibly layeredand complex topic and one, we
really want to talk about a lot.
(05:06):
Claire, are you ready to getinto it?
Claire (05:08):
Yes, I sure am.
Let's do this.
I love this topic of smartrisk-taking, as you know, it's
such a fascinating area toexplore.
I just want to say that I,really appreciate it the moment
after the year and then somethat has been for all of us
Miranda with the melting potgoing on of COVID hard lockdowns
in Australia, particularly forMelburnians, now it can feel
like we don't really have themental stamina right now to
(05:31):
raise our discomfort levels bytaking risks.
But there really is so muchupside to doing it.
Even if you feel like you onlyhave the capacity to take on
some little micro risks at themoment, that is what matters
really.
It's the small steps each day oreach week done consistently over
time that will build up themuscles that you need to get the
success that you want foryourself on your own terms.
(05:52):
So we just have to keep that atthe back of our minds I think.
The best article I have found onwhy you should take risks is
from one of my usual faves, theHuffington Post.
Huffington post has an articleon seven reasons why risk taking
leads to success.
A quick rattle off of a few ofthem is that great opportunities
often come from risk-taking thatwe wouldn't have otherwise seen
(06:13):
come our way if we hadn't donethem.
We learn a lot from risks andthose lessons may lead us onto a
important new path.
That embracing risk taking helpsyou overcome a fear of failure,
which is a very big one in mymind.
We've talked about fear offailure in past episodes.
And It also talks to the factthat taking risks, isn't a dirty
word, and it doesn't mean thesame thing as reckless or
(06:34):
stupid.
There's opportunities to get outof your comfort zone and take
smart risks that can really helpyou in getting on a journey to
leading a life of success onyour terms.
To be honest, that article wasprobably a found a couple of
similar ones, but that probablyhad the best content I found out
there on the benefits of takingrisk at the broadest of levels.
(06:54):
Which made me puzzle a littlebit as I think it's a really
important concept for us all tobe aware of.
And I do think that there aresome good books that at first
blush don't directly talk aboutwhy smart risk taking is
important, but it's definitely ahuge part of the backbone behind
the books.
Over the Christmas and New Yearsperiod, I read Greenlights by
Matthew McConaughey.
(07:15):
And taking into account my biasof always having had kept a
slight eye out for movies and TVshows starring Matthew, I really
actually enjoyed his book.
McConaughey is a natural risktaker.
That's clear.
And so what's great about thebook is that you get a
delightful insight into thebenefits of taking risks.
Like when he decides to doacting school instead of law
(07:35):
school.
And also when quite a ways intoa hugely successful acting
career, he decides that he needsfor his own sanity, he needs to
stop doing rom com movies.
And that caused him some angstas he navigated his ongoing
career in Hollywood, when he goticed out for not wanting to do
the rom coms anymore, I think,we can look at actors, we can
(07:56):
look at books that havesuccessful business people.
I think the reality is thatthere is always going to be an
underlying message of smart risktaking in there, right?
Because they've got to a levelof success in whatever vocation
that they have.
And so I feel that under that isalways going to be a message on
how to be brave and really leaninto some risks.
One of the quotes from his bookthat stuck with me was Life is
(08:18):
not a popularity contest.
Be brave, take the hill, butfirst answer the question.
What is my hill?
For me knowing what your hillis, your one thing, your bigger
picture is really important whendeciding what risks are for you
and which ones are not for youand, conveniently or not so
much, it ties so beautifullywith the importance of knowing
your why and your one thing thatwe've covered in episodes two to
(08:41):
five up to now.
The second book is"Winging It"by Australian author, Emma
Iaasacs, the founder of BusinessChicks.
A lot of the backbone in herbook is about getting out of
your own way, mustering up somecourage and doing the things
that you want, even if they seemscary to you at the get-go.
Have you read these books, MM?
Miranda (08:59):
Yeah,"Winging It" was another great book.
And I just love that she's anAustralian author too.
I hadn't read GreenLights untilyou mentioned it.
And I devoured it in a day.
It was such a great book.
And really fascinating how thatworld works and the risks that
he's taken throughout his life.
So I think definitely somereally positive messages there.
I don't think we have to go tohis extremes, but there's
definitely some lessons that wecan learn from that.
(09:21):
But within'Winging It" we'vediscussed that we really like
this title by Emma Iaasac.
We really want to explore thisbook further in future episodes,
so we won't dig too much inhere.
But just as the title suggests,the theme of taking smart risks
is winging it.
Right?
And Emma in her book suggestthat many women are or feel like
they are winging it in theircareers.
And like you Claire, I foundthere was very little
(09:42):
information on risk-taking, butthere's definitely this tendency
for women that are succeeding tocall it luck.
So it's interesting how thatshows up for us in the world.
Examples in this book, buying anevent business that was closing
and turning it into what it istoday, which is incredible.
Driving a manual car when she'dnever had before.
so she wouldn't miss a meeting.
Moving her and a family acrossthe world really demonstrates so
(10:04):
well, what can be achieved whenyou wing it or take smart risks.
And also the way that she talkedabout it was the more you take
the smart risks, the more youwant to take smart risks.
We can definitely see thatthrough those examples in the
book.
So good one.
And I look forward to talkingwith you more about this one in
the future.
Claire (10:20):
Yes.
Yes.
I think she'll definitely comeon in future episodes.
Within the topic of why takingsmart risks supercharges you in
the direction of living life onyour own terms, I'm keen for us
to pause here for a minute andexplore the hypotheses that
taking risks and careerenhancement, go hand in hand.
KPMG did a women's leadershipstudy in 2019.
(10:41):
And the findings pack a punchwith a bunch of interesting
statistics.
I'm a nerd.
I like my statistics on womentaking risks and the impact that
it has for their careeradvancement.
KPMG surveyed over 2000professional women and found
that when it comes torisk-taking in the workplace,
seven in 10, women are open totaking small risks, but far
(11:02):
fewer, only 43% are open totaking bigger risks that may be
associated with careeradvancement.
According to the research.
Women's inclination to takerisks, declines as they become
more experienced in theircareers, even as their
self-confidence grows.
So 45% of respondents with lessthan five years of experience
said that they were open totaking bigger risks.
(11:24):
But by the time they reached 15years of experience that dropped
to 37% of women wanting to takebig risks at work.
Despite the fact that many ofthe respondents have experienced
positive outcomes from takingrisks, too many still hesitated.
So what's holding them back?
The results indicate that itcould be because of a concern
with how others perceive them.
(11:44):
And I would probably add to thata fear of failure as a reason
for not taking more risks.
Miranda (11:50):
Great to see the likes of HuffPost and KPMG, really
digging into that area of smartrisk issues.
We've come so far in the past 50or so years since women were
allowed to work past marriage.
There are a few role models orthose that break those perceived
ceilings that give women comfortor visibility on what can be
achieved when you take thosesmart risks, or even how to take
(12:10):
smart risks.
When I explored the stories ofwomen who have taken those risks
and succeeded, there have beensome clear similarities.
IBM's Gina Romney shares apersonal story of sharing a job
opportunity with her husband,not believing she had the skills
needed yet.
And he asks, do you think a manwould say that?
Just being asked proves that youhave the skills necessary,
reflecting that any time she haslent the most in a role, it has
(12:32):
been by taking that risk anddiving into something that's not
necessarily in your comfortzone, but that is a stretch of
your current skills.
Growth and comfort do not existin the same world.
Really love that quote.
Growth and comfort do not existin the same world.
This is a consistent messagefrom the leaders that have taken
both Australian andinternational stages.
(12:52):
Gail Kelly, ex Westpac CEO,Naomi Simpson, Big Red Group,
Sheryl Sandberg, Facebook, andseveral others.
They would not have gottenanywhere if they didn't back to
themselves, reach higher demandmore.
And in many cases, check in witha male relative for reassurance,
and to understand how to bestnegotiate.
You and I have discussedconversations or times where we
(13:13):
know women have thought about anopportunity, but pulled back as
they didn't know how they wouldbalance it or tick all of the
boxes they felt the jobrequired.
No one is going to make you, butwow, there is some seriously
untapped opportunity when yousay no to a job that someone is
actually trying to hand you.
Interesting studies will tell usthere are innate biases out
there for women.
Being more risk adverse is bothbiologically wired and what
(13:35):
we're taught.
We love to get A's love to bepraised.
This quote, which is anothergreat one that resonates"in
school we love to get As, but inlife, the annual reviews should
not be a benchmark of success"is so true.
So why don't we?
We tend to focus on the negativeoutcome of a risk situation or
give little or no thought to thepositive.
Studies show that by reframingsuccess from what other people
(13:56):
think of you, to how you want toshow up, is a huge leap towards
smart risk taking.
What is the worst that canhappen?
A little egg on your face,amanager who's shocked that we
want their job.
Someone that might judge you fora second.
We all know people spend moretime thinking of themselves.
So even if this was in theirthoughts, it's not going to
stick with them.
What is the best that canhappen?
Financially?
Satisfaction in your role?
(14:17):
More responsibility on you toprioritize what's important to
you?
Some good wins there.
A couple of quotes to considerhere, Gail Kelly, back yourself,
even if you're not quite ready",Susan Jeffers, feel the fear and
do it anyway".
W E B Dubois, there is no forceequal to a woman determined to
rise".
So the next time listeners thatyou get this feeling in your gut
(14:41):
that there's something else outthere, or there's a great
opportunity that you need totake on and you're trying to
quash it or hold yourself back,check out these quotes.
Really think about thisinspiration from these women out
there that are looking toprovide a roadmap of what is
possible.
And of course we'll put thequotes in the show notes.
Claire (14:58):
They're some really great quotes Miranda, I really
like them.
Miranda (15:01):
Can build them into our affirmations or something for
the day.
So thinking of books on thistopic, there are a few authors
who have increased my awarenessin this space, but it does feel
like only recently theseconversations have started to
happen in terms of women andsmart risks.
These titles all tackle takingrisks to create something truly
great.
Sheryl Sandberg's"Lean In" wasthe first one where I really
(15:22):
resonated with the message thattaking smart risks and leaping
before you were entirely readywas a good thing.
I appreciate this title wasquite controversial, however, as
promised we curate all of thegood Intel from loads of
sources.
I believe her thoughts to betrue in terms of women building
themselves to middle managementand then largely pulling back,
potentially to take time forfamily might not always be true,
(15:42):
but it's largely consistent withthis idea that women just don't
take enough risks.
So maybe it's one in a number ofideas or one of a number of
reasons why women are not takingthose risks.
Men are just foot on the gaspedal.
I disagree with that sentimentthat women are not ambitious
enough.
I believe that we get a lot ofmixed messages from the world
and how we are largely unawareof the biases.
And I've certainly been told I'mtoo ambitious from men.
(16:05):
So I think it's something thatwe consistently hear from a very
young age in the workforce thatyou really tap that back, pull
that back in.
It's not female to be overlyambitious out there in the
workforce.
And there's also too few womento role model the how, and those
clear, actionable steps of howto pave the way.
There's a lot that we've got towork on here in terms of taking
those smart risks.
(16:26):
Looking into this further, I wasexcited to find it the risk
factor by Debra Perry Piscioneor DPP as I'll abbreviate to
you, which is an eyeopeningbook.
And one of the very few of itskind, if you prefer audio, she
also has a LinkedIn learningsession on risks for leaders
which have recommended for thekey headlines.
DPP is one of the few who haveidentified a huge gap in
(16:48):
knowledge and learning aroundrisk.As we have also found when
we're exploring different typesof risk appetite or bias, the
information available is onlyreally focused on your financial
risk.
So if you think about how yoursuper is set up, perhaps this
will offer you insight into yourrisk appetite, or perhaps not as
I am sure.
There is much more to you thanwhat you've organized, your
Super to be.
Thankfully a special few,including Jody Evans and MBS and
(17:12):
DPP and now us are looking tobring attention to smart risk
taking and the type of work youtake on the changes you look to
make in your life and the thingsyou accept, but the cause you
discomfort when you struggled tomake an impact that promotion
when you're not quite ready innegotiating for that big
contract or trying somethingnew.All fall under this banner
of smart, risk-taking feelingdisempowered in the workplace
(17:32):
because you haven't spoken up orbeing consulted during those big
decisions is the worst.
I'm sure we have all been there.
This is really what happens whenwe don't take some of those
smart risks as mentioned aboveand discussed in each of the
risks conversations it's allabout the payoff analysis.
Not just thinking what is theworst that can happen, but also
what is the best.
Provided you can manage throughthe worst and your analysis
(17:53):
suggests it's a good decision tomake more on this in future
episodes.
Then let's leap in and take someof those risks.
With her updated LinkedIn onlinesession, that links in the show
notes, and it highlights thatwith COVID now is the
opportunity to embrace thatsmart risk-taking and really
create our own paths.
When we were talking aboutrisks, we're referring to smart
risks, not the reckless gamblethat some people kind of think
(18:13):
about.
Risk-taking the jumping out ofthe plane, those kind of risks.
These are calculated risks thatrequire tools, skills, and
knowledge.
So you don't to have to be bornwith the risk DNA, to propel you
forward.
It's another skill that you canlearn and have in your toolbox
to help you on your way toliving a life of success on your
own terms.
DPP positions risk in threebuckets, game changing
(18:33):
operational and improvisationalrisks.
The kind of risks mostassociated with risk behavior
are those game-changing changingrisks.
There's big life-changing careerjumping risks that are scary.
And unless we're on the extremeright of the risk continuum, we
barely take these on, unlesswe're in some serious.
Improvisational of risks thatwas seize the moment risks and
(18:54):
often require a little timespace and gumption.
So rarely when overworked andcrazy busy, just not something
that we would take the time for.
These can be those small shiftsthat help make you stand out
simple tasks or roles that youseek to make a little less
ordinary booking a restaurantfor a client meeting, and
instead surprising them with athoughtful experience.
The airline attendant that turnsthe safety announcement into a
(19:17):
RAP.
The way you approach a customer,perhaps by sharing interests in
an interesting way.
There was a small risk that youcould end up with egg on your
face, maybe, but at a muchlarger benefit than he could
stand out and earn that nextpromotion or that next role.
Operational risks, these arecontinual incremental
improvement risks that could beimpacting your end results.
Gamblers in many cases, actuallysit within the operational risk,
(19:39):
taking calculated risks,learning, maybe failing a little
bit adapting to their opponentsand the cards with every move.
These are the risks where youseek to change a process, test a
new technique, find a new routehome, with enough incremental
changes you achieve what wasimpossible the weeks or months
before you started.
These risks or the move, theneedle risks.
When you seek continualimprovement, you question the
(20:01):
status quo and you speak up tomake positive change.
They are not always a safespace, but they are speaking up
for what you believe is right orbetter and it's great training
for your risk taking muscles.
I mentioned the risk continuumabove this is DPPs model for
explaining your risk bias orcomfort zone.
Imagine a static person to oneend the risk mitigator and on a
funnel, all the way to chaos orcomplete change at the other
(20:24):
end.
Most of us will sit somewherealong this.
And in this week's challenge, wedemonstrate the continuum
further and encourage you totake a survey of where you sit
in this risk continuum tounderstand your risk profile in
lots of different areas.
There is seriously, so much tounpack here.
So I know we are going to spendlots and lots of times talking
about risk in the future, butexciting stuff to get us started
with.
Claire (20:44):
I like what you're talking about in terms of types
of risk and being aware thatthere's different types of
risks.
And also that understanding ourown personal risk, style and
biases.
Because I think for me oftenwhat stops me from making a
decision that is outside mycomfort zone is being clear on
what I'm doing it for and thereasons why I'm doing it.
(21:04):
And it can be quite hard to getto the bottom of that sometimes.
And so I think, having a bit ofan understanding of your own
risk tendencies could be really,really good.
I think it also ties in a littlebit to what I was talking about
before with the HuffPost articlethat we're not talking about
just taking any crazy risk atany time.
It needs to be considered andsmart in a way that takes you
(21:25):
out of your comfort zone andthat you can be comfortably
uncomfortable, if that makessense, because that's the muscle
that we need to build over time.
Miranda (21:32):
In summary, we have covered a bit today about why
women tend to hold themselvesback with more biological wiring
to assess risk, a doublestandard at work and at home,
risk profiling and biases andhow incremental risks can also
be overlooked, not justgame-changing ones.
And some initial thoughts on howyou can start to take smart
risks practices, visualization,asking for feedback, building
(21:52):
your network and ensuringdiversity in your tribe.
An action for this week, head toour website of socials and click
the link to complete the surveyaround your risk profile.
With this new found awareness onyour risk basis, you can head
out into the world with a yesand not a yes but mindset, as
you have seen in our examplesduring the episode.
Seek out opportunities to useyes and, be it at home work or
(22:13):
in planning for your next smartrisk.
Claire (22:15):
Oh, great.
I am looking forward to doingthat risk profile.
That'd be good.
It'd be interesting to see whatthat comes out with.
It will tie in nicely to nextweek's pod.
Next week we are going to begoing into how to make smart
decisions and provide some toolsthat you can use to help you
make smarter decisions that willin turn give you more confidence
to take greater risks with thedecisions that you're making for
(22:36):
yourself and your life.
It's going to be really great togo into that, we've got some
really great examples and I'mreally excited to be getting
into that content.
As Miranda mentioned all oftheir links to all of the
content that we've spoken abouttoday will be in the episode
notes.
Be sure to visit our Insta postsfor more inspiration during the
week between podcasts.
Email us atelevatewithgrace@gmail.com if
(22:59):
you want to let us knowanything, give us any feedback
or want to talk about anythingwe'd love to hear from you.
And please check out ourwebsite,
elevatewithgrace.com.au.
Miranda (23:09):
If you're interested in any of the books that we talked
about this week and would liketo read more.
We have a Booktopia link in ourshow notes and on our website.
Of course, please subscribe andshare to this podcast.
It's such an important way toshare with other women and help.
That's all just lift each otherup.
Claire (23:23):
and so that brings us to the end of this episode.
Another one, I can't believe itthe times just go so fast when
we're talking about this stuff.
Thank you so much.
Miranda.
Thank you so much, listeners.
What a fun conversation, we lookforward to catching up with you
again next week.
Miranda (23:37):
Thank you so much for listening it's been a lot of
fun.
Welcome to the Elevate with Grace podcast, for women
who are short on time and longto take steps, to create success
on their own terms.
Our aim is to curate and sharethe best tips, insights, and
knowledge from all of thecontent out there.
Then take the brain strain outof it by giving you the so what
and some immediate actionablesteps for you to squeeze into
your life each week.
Through regular action, we willpropel you forward and offer
(00:21):
support as we all create ourpaths to achieving success on
our own terms.
Claire (00:26):
Good morning out there to our gracious listeners.
Welcome to our 6th podcast.
I am your co-host Claire and ofcourse with me is the always
effervescent Miranda.
It's super fab to be back again,chatting about how we can bring
easy, actionable stepsseamlessly into our days and
weeks to help us get crackingwith creating the life we want
for ourselves on our own termsinstead of going through the
(00:46):
motions of the life that othersare designing for us.
Smart risk taking is one of thefive elements of our Elevate
with Grace"Success On Your OwnTerms Model" and so today we are
going to be exploring why takingsmart risks is really important
for making your goals andvisions for your life a reality.
Hopefully you have got an SFDforming around some audacious
goals after listening in to ourlast few episodes.
(01:09):
But if not, then at least a bitof a picture forming about where
you want your life to be in sixor 12 months from now.
If you're a bit stuck, we'd loveto help you if we can so please
drop us an email atelevatewithgrace@gmail.com.
We also really hope that youfound some gems within"The One
Thing" book review last week andthe weekly action challenge that
popped out of that podcast.
(01:29):
Speaking of which, how are youthis morning my gorgeous friend.
How's your week been?
And how did you get on with our"One Thing" challenge?
Miranda (01:37):
It has been a busy one.
And I know we say that all thetime, but for me, this is one of
those weeks where you know thatall the effort now is the right
thing for your future self, butdamn hard in the moment.
Busy, also really energizing.
I will say that I felt thecentering benefits of"The One
Thing" during this busy time,using this technique to focus
both first thing in the morning.
And when those crunch timeshappened, really being
(01:59):
disciplined to take thatdedicated pause, deep breath and
check in what's the one thingthat I can do now, so that
everything becomes easier orunnecessary.
It feels crazy occasionally.
And I think it's something thatI work through, but it does
really does help.
So Claire, how's your week beenand how did you go?
Claire (02:16):
I had some good success with my"One Thing" challenge
over the week too.
I agree with you, the diligencethat the book has inspired me
and I do aspire to that at agreater level.
Last Sunday I did sit down and Iplanned my week for a change and
I spent maybe 30 minutes to anhour just writing down the one
thing I wanted to do this weekfor some of those categories
(02:39):
that we'd spoken about in theepisode.
So for my health and wellbeing,which was meet my best mate,
three times a week for somerunning or exercise.
For my family, which was to setaside devices and spend quality
time with my kids on theirpassions.
My eldest who's 10 as you know,Miranda.
I was helping her foster, hercooking passion that's come
about through our family's loveof watching Master Chef
(03:01):
together, so that was good.
And for Elevate with Grace, itwas setting aside some research
and writing time because you doneed to find time to think and
have some quiet processing timein your days.
And so I put in blocks for whenI would do these things and
mostly stuck with it prettywell, actually.
So yeah, it was pretty good.
Miranda (03:19):
Sounds like an incredible start to this
challenge.
Congrats.
I think one of the mostimportant tips for our listeners
is to just keep at it like agym.
It is going to get easier eachweek and that tips for our
listeners and for ourselves, Ithink.
How incredible that we arealready at podcast six.
Our episodes to date have spokento the big picture of Elevate
with Grace, smashing what'sholding you back, taking actions
(03:40):
on some big goals and thediscipline of constantly
defining your one thing.
From here, we are going to startto take those big picture
visions of how you want to showup in the world and then start
deep diving into this three corepillars of cultivating your
career success, unlocking yourfinancial acumen and taking
smart risks.
We know you're keen to takeaction immediately, so in these
pillars we're going to curatethe best Intel out there and
(04:01):
make it into meaningful outtakesand immediate steps.
Pivotal in all elements of ourlife is our willingness to take
smart risks.
So as Claire mentioned, let'sget started.
We want to talk about riskstoday and why do we need to take
smart risks?
Is it something you have evergiven any thought to before?
We know how hard it is to getout of your comfort zone
especially when life is alreadyfeeling loaded with stress and
(04:22):
responsibility, but there's alot of strong evidence to
support that leaning into smartrisks skills helps you tackle
challenges and opportunities,have greater earning power,
feeling more energized andsatisfied with life, which why
wouldn't we?
Research supports that feelingthat women are falling behind in
the workforce.
We have 55% of undergrads.
And between 4.5 to 7% ofleadership, depending on your
(04:45):
metric.
Traits, like following therules, following the
instructions of authoritywithout challenge, are
absolutely getting in the way.
A quote from the HarvardBusiness Review in school being
disruptive might get you sent tothe principal's office, but in
business, disruption is theproven path to success.
Whoa.
As always an incredibly layeredand complex topic and one, we
really want to talk about a lot.
(05:06):
Claire, are you ready to getinto it?
Claire (05:08):
Yes, I sure am.
Let's do this.
I love this topic of smartrisk-taking, as you know, it's
such a fascinating area toexplore.
I just want to say that I,really appreciate it the moment
after the year and then somethat has been for all of us
Miranda with the melting potgoing on of COVID hard lockdowns
in Australia, particularly forMelburnians, now it can feel
like we don't really have themental stamina right now to
(05:31):
raise our discomfort levels bytaking risks.
But there really is so muchupside to doing it.
Even if you feel like you onlyhave the capacity to take on
some little micro risks at themoment, that is what matters
really.
It's the small steps each day oreach week done consistently over
time that will build up themuscles that you need to get the
success that you want foryourself on your own terms.
(05:52):
So we just have to keep that atthe back of our minds I think.
The best article I have found onwhy you should take risks is
from one of my usual faves, theHuffington Post.
Huffington post has an articleon seven reasons why risk taking
leads to success.
A quick rattle off of a few ofthem is that great opportunities
often come from risk-taking thatwe wouldn't have otherwise seen
(06:13):
come our way if we hadn't donethem.
We learn a lot from risks andthose lessons may lead us onto a
important new path.
That embracing risk taking helpsyou overcome a fear of failure,
which is a very big one in mymind.
We've talked about fear offailure in past episodes.
And It also talks to the factthat taking risks, isn't a dirty
word, and it doesn't mean thesame thing as reckless or
(06:34):
stupid.
There's opportunities to get outof your comfort zone and take
smart risks that can really helpyou in getting on a journey to
leading a life of success onyour terms.
To be honest, that article wasprobably a found a couple of
similar ones, but that probablyhad the best content I found out
there on the benefits of takingrisk at the broadest of levels.
(06:54):
Which made me puzzle a littlebit as I think it's a really
important concept for us all tobe aware of.
And I do think that there aresome good books that at first
blush don't directly talk aboutwhy smart risk taking is
important, but it's definitely ahuge part of the backbone behind
the books.
Over the Christmas and New Yearsperiod, I read Greenlights by
Matthew McConaughey.
(07:15):
And taking into account my biasof always having had kept a
slight eye out for movies and TVshows starring Matthew, I really
actually enjoyed his book.
McConaughey is a natural risktaker.
That's clear.
And so what's great about thebook is that you get a
delightful insight into thebenefits of taking risks.
Like when he decides to doacting school instead of law
(07:35):
school.
And also when quite a ways intoa hugely successful acting
career, he decides that he needsfor his own sanity, he needs to
stop doing rom com movies.
And that caused him some angstas he navigated his ongoing
career in Hollywood, when he goticed out for not wanting to do
the rom coms anymore, I think,we can look at actors, we can
(07:56):
look at books that havesuccessful business people.
I think the reality is thatthere is always going to be an
underlying message of smart risktaking in there, right?
Because they've got to a levelof success in whatever vocation
that they have.
And so I feel that under that isalways going to be a message on
how to be brave and really leaninto some risks.
One of the quotes from his bookthat stuck with me was Life is
(08:18):
not a popularity contest.
Be brave, take the hill, butfirst answer the question.
What is my hill?
For me knowing what your hillis, your one thing, your bigger
picture is really important whendeciding what risks are for you
and which ones are not for youand, conveniently or not so
much, it ties so beautifullywith the importance of knowing
your why and your one thing thatwe've covered in episodes two to
(08:41):
five up to now.
The second book is"Winging It"by Australian author, Emma
Iaasacs, the founder of BusinessChicks.
A lot of the backbone in herbook is about getting out of
your own way, mustering up somecourage and doing the things
that you want, even if they seemscary to you at the get-go.
Have you read these books, MM?
Miranda (08:59):
Yeah,"Winging It" was another great book.
And I just love that she's anAustralian author too.
I hadn't read GreenLights untilyou mentioned it.
And I devoured it in a day.
It was such a great book.
And really fascinating how thatworld works and the risks that
he's taken throughout his life.
So I think definitely somereally positive messages there.
I don't think we have to go tohis extremes, but there's
definitely some lessons that wecan learn from that.
(09:21):
But within'Winging It" we'vediscussed that we really like
this title by Emma Iaasac.
We really want to explore thisbook further in future episodes,
so we won't dig too much inhere.
But just as the title suggests,the theme of taking smart risks
is winging it.
Right?
And Emma in her book suggestthat many women are or feel like
they are winging it in theircareers.
And like you Claire, I foundthere was very little
(09:42):
information on risk-taking, butthere's definitely this tendency
for women that are succeeding tocall it luck.
So it's interesting how thatshows up for us in the world.
Examples in this book, buying anevent business that was closing
and turning it into what it istoday, which is incredible.
Driving a manual car when she'dnever had before.
so she wouldn't miss a meeting.
Moving her and a family acrossthe world really demonstrates so
(10:04):
well, what can be achieved whenyou wing it or take smart risks.
And also the way that she talkedabout it was the more you take
the smart risks, the more youwant to take smart risks.
We can definitely see thatthrough those examples in the
book.
So good one.
And I look forward to talkingwith you more about this one in
the future.
Claire (10:20):
Yes.
Yes.
I think she'll definitely comeon in future episodes.
Within the topic of why takingsmart risks supercharges you in
the direction of living life onyour own terms, I'm keen for us
to pause here for a minute andexplore the hypotheses that
taking risks and careerenhancement, go hand in hand.
KPMG did a women's leadershipstudy in 2019.
(10:41):
And the findings pack a punchwith a bunch of interesting
statistics.
I'm a nerd.
I like my statistics on womentaking risks and the impact that
it has for their careeradvancement.
KPMG surveyed over 2000professional women and found
that when it comes torisk-taking in the workplace,
seven in 10, women are open totaking small risks, but far
(11:02):
fewer, only 43% are open totaking bigger risks that may be
associated with careeradvancement.
According to the research.
Women's inclination to takerisks, declines as they become
more experienced in theircareers, even as their
self-confidence grows.
So 45% of respondents with lessthan five years of experience
said that they were open totaking bigger risks.
(11:24):
But by the time they reached 15years of experience that dropped
to 37% of women wanting to takebig risks at work.
Despite the fact that many ofthe respondents have experienced
positive outcomes from takingrisks, too many still hesitated.
So what's holding them back?
The results indicate that itcould be because of a concern
with how others perceive them.
(11:44):
And I would probably add to thata fear of failure as a reason
for not taking more risks.
Miranda (11:50):
Great to see the likes of HuffPost and KPMG, really
digging into that area of smartrisk issues.
We've come so far in the past 50or so years since women were
allowed to work past marriage.
There are a few role models orthose that break those perceived
ceilings that give women comfortor visibility on what can be
achieved when you take thosesmart risks, or even how to take
(12:10):
smart risks.
When I explored the stories ofwomen who have taken those risks
and succeeded, there have beensome clear similarities.
IBM's Gina Romney shares apersonal story of sharing a job
opportunity with her husband,not believing she had the skills
needed yet.
And he asks, do you think a manwould say that?
Just being asked proves that youhave the skills necessary,
reflecting that any time she haslent the most in a role, it has
(12:32):
been by taking that risk anddiving into something that's not
necessarily in your comfortzone, but that is a stretch of
your current skills.
Growth and comfort do not existin the same world.
Really love that quote.
Growth and comfort do not existin the same world.
This is a consistent messagefrom the leaders that have taken
both Australian andinternational stages.
(12:52):
Gail Kelly, ex Westpac CEO,Naomi Simpson, Big Red Group,
Sheryl Sandberg, Facebook, andseveral others.
They would not have gottenanywhere if they didn't back to
themselves, reach higher demandmore.
And in many cases, check in witha male relative for reassurance,
and to understand how to bestnegotiate.
You and I have discussedconversations or times where we
(13:13):
know women have thought about anopportunity, but pulled back as
they didn't know how they wouldbalance it or tick all of the
boxes they felt the jobrequired.
No one is going to make you, butwow, there is some seriously
untapped opportunity when yousay no to a job that someone is
actually trying to hand you.
Interesting studies will tell usthere are innate biases out
there for women.
Being more risk adverse is bothbiologically wired and what
(13:35):
we're taught.
We love to get A's love to bepraised.
This quote, which is anothergreat one that resonates"in
school we love to get As, but inlife, the annual reviews should
not be a benchmark of success"is so true.
So why don't we?
We tend to focus on the negativeoutcome of a risk situation or
give little or no thought to thepositive.
Studies show that by reframingsuccess from what other people
(13:56):
think of you, to how you want toshow up, is a huge leap towards
smart risk taking.
What is the worst that canhappen?
A little egg on your face,amanager who's shocked that we
want their job.
Someone that might judge you fora second.
We all know people spend moretime thinking of themselves.
So even if this was in theirthoughts, it's not going to
stick with them.
What is the best that canhappen?
Financially?
Satisfaction in your role?
(14:17):
More responsibility on you toprioritize what's important to
you?
Some good wins there.
A couple of quotes to considerhere, Gail Kelly, back yourself,
even if you're not quite ready",Susan Jeffers, feel the fear and
do it anyway".
W E B Dubois, there is no forceequal to a woman determined to
rise".
So the next time listeners thatyou get this feeling in your gut
(14:41):
that there's something else outthere, or there's a great
opportunity that you need totake on and you're trying to
quash it or hold yourself back,check out these quotes.
Really think about thisinspiration from these women out
there that are looking toprovide a roadmap of what is
possible.
And of course we'll put thequotes in the show notes.
Claire (14:58):
They're some really great quotes Miranda, I really
like them.
Miranda (15:01):
Can build them into our affirmations or something for
the day.
So thinking of books on thistopic, there are a few authors
who have increased my awarenessin this space, but it does feel
like only recently theseconversations have started to
happen in terms of women andsmart risks.
These titles all tackle takingrisks to create something truly
great.
Sheryl Sandberg's"Lean In" wasthe first one where I really
(15:22):
resonated with the message thattaking smart risks and leaping
before you were entirely readywas a good thing.
I appreciate this title wasquite controversial, however, as
promised we curate all of thegood Intel from loads of
sources.
I believe her thoughts to betrue in terms of women building
themselves to middle managementand then largely pulling back,
potentially to take time forfamily might not always be true,
(15:42):
but it's largely consistent withthis idea that women just don't
take enough risks.
So maybe it's one in a number ofideas or one of a number of
reasons why women are not takingthose risks.
Men are just foot on the gaspedal.
I disagree with that sentimentthat women are not ambitious
enough.
I believe that we get a lot ofmixed messages from the world
and how we are largely unawareof the biases.
And I've certainly been told I'mtoo ambitious from men.
(16:05):
So I think it's something thatwe consistently hear from a very
young age in the workforce thatyou really tap that back, pull
that back in.
It's not female to be overlyambitious out there in the
workforce.
And there's also too few womento role model the how, and those
clear, actionable steps of howto pave the way.
There's a lot that we've got towork on here in terms of taking
those smart risks.
(16:26):
Looking into this further, I wasexcited to find it the risk
factor by Debra Perry Piscioneor DPP as I'll abbreviate to
you, which is an eyeopeningbook.
And one of the very few of itskind, if you prefer audio, she
also has a LinkedIn learningsession on risks for leaders
which have recommended for thekey headlines.
DPP is one of the few who haveidentified a huge gap in
(16:48):
knowledge and learning aroundrisk.As we have also found when
we're exploring different typesof risk appetite or bias, the
information available is onlyreally focused on your financial
risk.
So if you think about how yoursuper is set up, perhaps this
will offer you insight into yourrisk appetite, or perhaps not as
I am sure.
There is much more to you thanwhat you've organized, your
Super to be.
Thankfully a special few,including Jody Evans and MBS and
(17:12):
DPP and now us are looking tobring attention to smart risk
taking and the type of work youtake on the changes you look to
make in your life and the thingsyou accept, but the cause you
discomfort when you struggled tomake an impact that promotion
when you're not quite ready innegotiating for that big
contract or trying somethingnew.All fall under this banner
of smart, risk-taking feelingdisempowered in the workplace
(17:32):
because you haven't spoken up orbeing consulted during those big
decisions is the worst.
I'm sure we have all been there.
This is really what happens whenwe don't take some of those
smart risks as mentioned aboveand discussed in each of the
risks conversations it's allabout the payoff analysis.
Not just thinking what is theworst that can happen, but also
what is the best.
Provided you can manage throughthe worst and your analysis
(17:53):
suggests it's a good decision tomake more on this in future
episodes.
Then let's leap in and take someof those risks.
With her updated LinkedIn onlinesession, that links in the show
notes, and it highlights thatwith COVID now is the
opportunity to embrace thatsmart risk-taking and really
create our own paths.
When we were talking aboutrisks, we're referring to smart
risks, not the reckless gamblethat some people kind of think
(18:13):
about.
Risk-taking the jumping out ofthe plane, those kind of risks.
These are calculated risks thatrequire tools, skills, and
knowledge.
So you don't to have to be bornwith the risk DNA, to propel you
forward.
It's another skill that you canlearn and have in your toolbox
to help you on your way toliving a life of success on your
own terms.
DPP positions risk in threebuckets, game changing
(18:33):
operational and improvisationalrisks.
The kind of risks mostassociated with risk behavior
are those game-changing changingrisks.
There's big life-changing careerjumping risks that are scary.
And unless we're on the extremeright of the risk continuum, we
barely take these on, unlesswe're in some serious.
Improvisational of risks thatwas seize the moment risks and
(18:54):
often require a little timespace and gumption.
So rarely when overworked andcrazy busy, just not something
that we would take the time for.
These can be those small shiftsthat help make you stand out
simple tasks or roles that youseek to make a little less
ordinary booking a restaurantfor a client meeting, and
instead surprising them with athoughtful experience.
The airline attendant that turnsthe safety announcement into a
(19:17):
RAP.
The way you approach a customer,perhaps by sharing interests in
an interesting way.
There was a small risk that youcould end up with egg on your
face, maybe, but at a muchlarger benefit than he could
stand out and earn that nextpromotion or that next role.
Operational risks, these arecontinual incremental
improvement risks that could beimpacting your end results.
Gamblers in many cases, actuallysit within the operational risk,
(19:39):
taking calculated risks,learning, maybe failing a little
bit adapting to their opponentsand the cards with every move.
These are the risks where youseek to change a process, test a
new technique, find a new routehome, with enough incremental
changes you achieve what wasimpossible the weeks or months
before you started.
These risks or the move, theneedle risks.
When you seek continualimprovement, you question the
(20:01):
status quo and you speak up tomake positive change.
They are not always a safespace, but they are speaking up
for what you believe is right orbetter and it's great training
for your risk taking muscles.
I mentioned the risk continuumabove this is DPPs model for
explaining your risk bias orcomfort zone.
Imagine a static person to oneend the risk mitigator and on a
funnel, all the way to chaos orcomplete change at the other
(20:24):
end.
Most of us will sit somewherealong this.
And in this week's challenge, wedemonstrate the continuum
further and encourage you totake a survey of where you sit
in this risk continuum tounderstand your risk profile in
lots of different areas.
There is seriously, so much tounpack here.
So I know we are going to spendlots and lots of times talking
about risk in the future, butexciting stuff to get us started
with.
Claire (20:44):
I like what you're talking about in terms of types
of risk and being aware thatthere's different types of
risks.
And also that understanding ourown personal risk, style and
biases.
Because I think for me oftenwhat stops me from making a
decision that is outside mycomfort zone is being clear on
what I'm doing it for and thereasons why I'm doing it.
(21:04):
And it can be quite hard to getto the bottom of that sometimes.
And so I think, having a bit ofan understanding of your own
risk tendencies could be really,really good.
I think it also ties in a littlebit to what I was talking about
before with the HuffPost articlethat we're not talking about
just taking any crazy risk atany time.
It needs to be considered andsmart in a way that takes you
(21:25):
out of your comfort zone andthat you can be comfortably
uncomfortable, if that makessense, because that's the muscle
that we need to build over time.
Miranda (21:32):
In summary, we have covered a bit today about why
women tend to hold themselvesback with more biological wiring
to assess risk, a doublestandard at work and at home,
risk profiling and biases andhow incremental risks can also
be overlooked, not justgame-changing ones.
And some initial thoughts on howyou can start to take smart
risks practices, visualization,asking for feedback, building
(21:52):
your network and ensuringdiversity in your tribe.
An action for this week, head toour website of socials and click
the link to complete the surveyaround your risk profile.
With this new found awareness onyour risk basis, you can head
out into the world with a yesand not a yes but mindset, as
you have seen in our examplesduring the episode.
Seek out opportunities to useyes and, be it at home work or
(22:13):
in planning for your next smartrisk.
Claire (22:15):
Oh, great.
I am looking forward to doingthat risk profile.
That'd be good.
It'd be interesting to see whatthat comes out with.
It will tie in nicely to nextweek's pod.
Next week we are going to begoing into how to make smart
decisions and provide some toolsthat you can use to help you
make smarter decisions that willin turn give you more confidence
to take greater risks with thedecisions that you're making for
(22:36):
yourself and your life.
It's going to be really great togo into that, we've got some
really great examples and I'mreally excited to be getting
into that content.
As Miranda mentioned all oftheir links to all of the
content that we've spoken abouttoday will be in the episode
notes.
Be sure to visit our Insta postsfor more inspiration during the
week between podcasts.
Email us atelevatewithgrace@gmail.com if
(22:59):
you want to let us knowanything, give us any feedback
or want to talk about anythingwe'd love to hear from you.
And please check out ourwebsite,
elevatewithgrace.com.au.
Miranda (23:09):
If you're interested in any of the books that we talked
about this week and would liketo read more.
We have a Booktopia link in ourshow notes and on our website.
Of course, please subscribe andshare to this podcast.
It's such an important way toshare with other women and help.
That's all just lift each otherup.
Claire (23:23):
and so that brings us to the end of this episode.
Another one, I can't believe itthe times just go so fast when
we're talking about this stuff.
Thank you so much.
Miranda.
Thank you so much, listeners.
What a fun conversation, we lookforward to catching up with you
again next week.
Miranda (23:37):
Thank you so much for listening it's been a lot of
fun.
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I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com