small-business-risk-taking	|	Photo Courtesy of Many people pride themselves on being risk-takers, but unless you live each day like you’re Steve McQueen in “The Thomas Crown Affair,” these risks are usually limited to certain spheres of activity. Even if you enjoy the rush of skydiving, exotic travel or risking life and limb on a rough mountain bike course, that doesn’t automatically mean you’re equally comfortable taking risks in business and financial matters.

For small business owners, taking risks can be fun, scary and rewarding, all at the same time, according to a post on the Business 2 Community blog. For those who’d appreciate a nudge, the post suggests three worthwhile challenges: engaging with social media, investing in your professional development and delegating responsibilities.

  1. Embracing social media: Using social media may seem intimidating, but it’s a relatively low-risk, low-cost activity. The key is to get started, use some common sense and think before you post. It’s difficult to predict what can happen on social media. You might not get anything out of it, or you may get a lot out of it, but through avenues you wouldn’t expect. Since the only real cost is the time you put into using it, why not give it a try?
  2. Investing in yourself: Take the time to invest in your own growth, whether that means reading books and blogs or attending webinars and industry conferences. A small business can also gain valuable perspective on its plans and operations by bringing in an experienced coach or trainer. Someone with fresh eyes can help you identify areas where your business can change and grow.
  3. Delegating responsibility: It’s easy to forget that your time as a manager and leader is valuable. Delegating some of your daily tasks can free up time to focus on the big picture and growing your business. The key is having confidence in the people who report to you, and knowing their skills and abilities. For tasks such as generating daily reports, consider finding a technology solution that automates this task.

We’d love to hear your ideas. What do you do to challenge yourself?

Source:Business 2 Community, April 2013