Calculated risks and mental health go hand-in-hand… you just have to learn how take risks in a smart way, which is what I’m covering this week! If you’re ready to learn how to take risks in life, then let’s talk! 😃

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LISTEN TO THE EPISODE

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Show Notes

Episode Description:

In this episode, I’m exploring why taking more risks in life is essential for your personal growth and mental health. I’ll explain what smart risks are, how they can lead to greater fulfilment, and provide practical advice on how to start taking more calculated risks today.

Episode Release Date:

September 22nd, 2024

Key Points:

• The importance of stepping outside your comfort zone for growth
• Understanding the difference between smart risks and reckless risks
• How taking calculated risks can open up new opportunities
• The connection between risk-taking and better mental health
• Practical steps to start taking more risks in your life

Mentioned in this Episode:

• Episode 11: Fear
• Episode 245: Reframing

Quote of the Week:

“…if you don’t risk anything, you risk even more.” — Erica Jong

Call to Action:

How do you take more risks in life? Share your thoughts on Spotify, Instagram @ltamentalhealth, or sign up to get the transcript delivered to your inbox each week at ltamh.com. For more tips, follow @itsjeremygodwin and join my Patreon for early access to ad-free episodes.

Next Week’s Episode:

How to enjoy your life more. If you’ve ever found yourself stuck in a rut, this episode will help you shake things up for the betterment of your mental health. Scheduled for release on September 29th, 2024 (one week earlier for Official Supporters on Patreon).

Listen, Rate and Follow:

Hit ‘follow’ on your podcast service and turn on notifications. Available on all major services including Spotify, Apple Podcasts, Amazon Music, YouTube Music and more.

Connect with Jeremy Godwin:

Find me on Instagram @itsjeremygodwin (and sometimes on Threads at the same handle).

Support the Show:

Become a paid supporter on Patreon for early access to ad-free episodes and exclusive content (opens in new window).

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TRANSCRIPT

How to take more risks

Why should you take more risks in life, and how does taking smart risks help your mental health? 

If you find it difficult to take risks, then this is the episode for you; I’m going to teach you how to take smart risks so you can achieve your goals and live a more fulfilling life.

Ready to learn how to take risks in life? Then, get comfortable and let’s talk!

Hello and welcome back to the Let’s Talk About Mental Health podcast, the independent show full of simple ideas for better mental health, and thanks for joining me!

If you’re new here, then hi! I’m Jeremy Godwin, podcast creator, and this isn’t the type of show full of interviews or random opinions. I’m also a mental health counsellor and writer, and each week I teach you practical and effective ways to improve your mental wellbeing, based on quality research and my own experience of learning to live with anxiety and depression after a breakdown in 2011 that changed my life.

This is Episode 250 and today I’ll be talking about what taking risks means, why it matters, and how to take smart risks (as well as how to overcome your fear of taking risks in life!).

So, let’s talk!

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I am feeling absolutely honoured to be able to sit here and talk to you in this, my 250th episode (even if I’m struggling with bronchitis at the moment, so I may or may not sound like a wheezing horse every now and then!). When I started this show nearly five years ago (it’ll be five years on October 4), I could never have imagined I’d still be going after all these years… let alone the fact that my show has been played nearly five million times in more than 170 countries around the world! So, a huge thank you from the bottom of my heart to every single one of you who has ever listened to an episode or two, or four, or more!

Taking risks has played a huge role in my journey, and it’s something that has brought me to this massive milestone of recording my 250th episode. But let’s be honest — risk-taking isn’t particularly easy. In fact, it can be downright terrifying! Given a choice between staying safe or taking risks, many of us would choose to stay where we feel comfortable… but, without taking risks, I wouldn’t be sitting here having this conversation with you today, and neither would we have so many of the things that make our lives feel exciting and fulfilling. The reality is that stepping outside your comfort zone is essential if you want to grow, achieve your goals, and live a life that truly reflects who you are.

Whether it’s making a big career change, starting a new relationship, or simply trying something new, taking smart risks can open up possibilities you never thought possible. So, if you’ve ever hesitated to take that leap because of fear or uncertainty, this episode is going to help you understand how taking smart, calculated risks can lead you to greater fulfilment and, ultimately, to a more meaningful life.

Let’s start with some definitions, and let’s talk about…

What ‘taking risks’ means

Taking risks in life is about venturing into the unknown and embracing the possibility of change and growth. Risks, by their very nature, involve stepping away from what’s comfortable or familiar and facing uncertainty head-on (which often tends to be uncomfortable at best, and terrifying at worst). 

It’s important to note that not all risks are created equal; some are spur-of-the-moment decisions driven by impulse, while others are well-thought-out choices grounded in careful consideration. Understanding the difference between these types of risks is crucial for making decisions that align with your goals and values, and for ensuring that the risks you take are more likely to lead to positive outcomes.

Let’s start with the concept of risk itself. At its core, taking a risk means making a decision with an uncertain outcome — one where there’s a possibility of loss or failure but also the potential for reward or success. For example, deciding to invest in a new business venture or choosing to leave a stable job to pursue your passion involves risk because there’s no guarantee of the outcome. While risk can be daunting, it’s also an important part of life and necessary for your personal growth. Without taking risks, we often remain stuck in the same place, unable to move forward or to achieve our full potential.

Now, when we talk about smart risks, I’m referring to risks that are taken with a clear understanding of the potential outcomes and a strategic approach to managing the uncertainty that goes with it. Smart risks are aligned with your goals and values, and they involve a level of preparation and forethought. For example, a smart risk might involve taking on a new project at work that challenges your skills and pushes you out of your comfort zone, but which also has the potential to significantly advance your career. It’s about choosing risks that have the potential to lead to meaningful rewards, even if the path to those rewards is uncertain.

Smart risks often overlap with what are known as calculated risks. A calculated risk is a decision made after careful consideration of the potential risks and rewards. It’s about doing your homework, weighing up the pros and cons, and making an informed decision based on the best available information. Calculated risks are smart risks that have been thoroughly evaluated and planned for, minimising the chances of failure while still acknowledging that some degree of uncertainty is inevitable.

On a practical level, taking more risks means being willing to make choices that challenge you to grow, even if you might not succeed. For example, if you’ve been thinking about studying to change careers, that’s a risk because it involves time, money, and effort with no guarantee of success. However, if you’ve carefully considered your options, planned how you’ll manage your studies and finances, and feel passionate about the new career path, then that’s a smart and calculated risk worth taking. Similarly, in your personal life, taking the risk of opening up to someone new in a relationship can be daunting, but it’s also essential for building deeper connections and emotional fulfilment.

Now when it comes to your mental health, the concept of taking smart risks plays a significant role in your personal development and wellbeing. Taking risks can help you overcome fears, build resilience, and increase your confidence. For example, if you struggle with social anxiety, taking the calculated risk of gradually exposing yourself to more social situations can help you build social skills and reduce your anxiety over time. In another scenario, if you’ve been stuck in a rut then taking the risk of trying a new hobby or learning a new skill can reignite your passion for life and improve your overall mental health.

Taking risks isn’t about being reckless or acting without thinking; it’s about being brave, thoughtful, and strategic. It’s about recognising when the potential benefits outweigh the risks and making decisions that align with your long-term goals and values. Ultimately, it’s a way of saying to yourself, “I believe in my ability to navigate uncertainty and create a better future for myself.” And while there’s always a chance of failure, the real value lies in the journey of growth and discovery that comes with stepping out of your comfort zone.

So now let’s talk about…

Why taking risks in life matters

Taking smart risks in life is essential, because it’s through taking risks that we push the boundaries of what we know, explore new opportunities, and achieve things that might otherwise seem out of reach. Smart risks, in particular, are those taken with a clear understanding of potential outcomes that are aligned with your goals and values. These risks require careful consideration and preparation, but they also come with the possibility of significant rewards. By taking smart risks, you open yourself up to new experiences, learning opportunities, and the chance to develop skills that can lead to greater success and fulfilment.

One of the key reasons it’s important to take smart risks is that it prevents stagnation. When you stay within the confines of what feels comfortable and familiar, you limit your potential for growth. Life becomes predictable, but it also becomes less exciting and less fulfilling. By contrast, when you’re willing to take risks — whether that’s pursuing a dream, starting a new project, changing careers, moving to a new place, etc. — you create opportunities for learning and development. You might face challenges and setbacks along the way, but those experiences are invaluable for building resilience and understanding what you’re truly capable of achieving.

In mental health terms, risk-taking can help you break free from limiting beliefs and behaviours that might be holding you back. It’s about challenging yourself to step outside of your comfort zone in a way that feels manageable, allowing you to grow emotionally and mentally stronger.

The benefits of proactively focusing on taking smart risks are enormous. Firstly, it fosters a growth mindset — the belief that your abilities and intelligence can be developed through effort and learning. When you take risks, you’re not just hoping for a positive outcome; you’re actively engaging in a process of self-improvement, which is critical for overcoming obstacles and achieving long-term success. It also helps you view challenges as opportunities rather than threats, which can reduce stress and increase your ability to cope with difficult situations.

Another major benefit is developing your resilience. Life is full of uncertainties, and not every risk will pay off as you hope. However, by taking risks regularly, you build the mental and emotional resilience needed to handle setbacks and failures. Each time you take a risk and push through the discomfort, you’re training yourself to bounce back from adversity more quickly. This not only helps you in your personal and professional life but it also contributes to better mental health, by reducing the impact of stress and anxiety.

Taking smart risks also enhances your self-confidence. Every time you take a risk and succeed, no matter how small the success, you reinforce your belief in your ability to make sound decisions and navigate life’s uncertainties. This confidence carries over into all areas of your life, making you more willing to take on new challenges and pursue your goals with determination.

And then, taking smart risks can lead to greater life satisfaction. By stepping out of your comfort zone and pursuing your passions, you create a life for yourself that’s more aligned with your true desires and values, bringing a deeper sense of fulfilment and happiness since you’re living a life that feels authentic and meaningful to you.

So, how do you do all of that? Well, let’s first take a quick break to hear from the brands who help me create this show each week…

AD BREAK [Note: Ads do not play if you have Spotify Premium or are an Official Supporter tier Patreon supporter]

And welcome back! Now let’s get into the how-to part of today’s episode and let’s talk about… 

How to take smart risks in life

OK, first, start with self-reflection — understanding your values, goals, and what truly matters to you will help you make smarter decisions about which risks are worth taking, because it ensures that the risks you take are aligned with your personal vision for your life. Set aside time to reflect on your aspirations, what you’re passionate about, and what you hope to achieve. Journaling, meditation, or talking with a trusted friend or mentor can help clarify your thoughts and prepare you for taking steps that resonate with your true self. Next…

Shift your mindset — taking smart risks often begins with shifting your mindset towards growth and embracing uncertainty as a natural part of life. By adopting a growth mindset, you start seeing challenges and risks as opportunities to learn and develop, rather than threats to be avoided. This involves consciously reframing your thoughts around risk-taking and getting comfortable with the idea that not everything will go as planned, and that’s OK. Start by regularly exposing yourself to small risks, trying new activities, and stepping into unfamiliar situations, all of which will gradually build your confidence to take on bigger challenges. To learn more about reframing, listen to Episode 245. Next…

Manage your fear — fear is a perfectly natural part of risk-taking, but it shouldn’t stop you from pursuing your goals. Managing your fear means acknowledging it, understanding its source, and finding ways to work through it, which empowers you to take action despite feeling afraid rather than letting fear hold you back. You can do this by practicing mindfulness, breaking down your fears into manageable pieces, and reminding yourself of past successes where you overcame challenges. By confronting your fears directly, you can reduce their power over you and make it easier to take risks that matter. I covered fear all the way back in Episode 11 if you’d like to explore the subject further. OK, next…

Start small and build — taking smart risks doesn’t mean diving headfirst into the deep end; it’s about starting small and gradually building up your confidence. Begin by identifying areas in your life where you feel stuck or hesitant and take a small, manageable risk in that area. For example, if you’ve always been nervous about public speaking, start by volunteering to speak in a small, familiar setting before moving on to larger audiences, allowing you to experience the benefits of risk-taking without feeling overwhelmed. Set incremental goals that push your comfort zone just enough to challenge you, but not so much that you feel paralysed by fear. Next…

Do your research — one of the most crucial aspects of taking smart risks is being well-informed. Before making any significant decision, take the time to gather as much information as possible (like researching the market before starting a new business, seeking advice from experienced professionals, or learning about the potential outcomes of a particular choice). Doing your research helps you to make informed decisions, reducing the uncertainty associated with the risk. Dedicate time to thorough preparation, ask lots of questions, and consider different perspectives to ensure you’ve covered all your bases. Next…

Focus on what you can control — when it comes to taking risks, it’s easy to become fixated on the aspects that are beyond your control. Instead, focus on what you can control: your preparation, your actions, and your responses to challenges. This helps empower you to take proactive steps and reduces the anxiety associated with uncertainty. Do this by identifying the elements of the risk that you can influence and make a plan to manage them. For example, if you’re launching a new project, you can control your level of preparedness, the quality of your work, and how you respond to feedback. OK, next… 

Break the risk down into steps — sometimes, just the thought of taking a risk can feel overwhelming… especially if it’s a big one. Breaking it down into smaller, manageable steps can make the process feel less daunting and more achievable, and it allows you to take action without being paralysed by the size of the task. Try identifying the key steps required to take the risk and then tackle them one at a time. For example, if you’re considering a career change, you might start by researching new fields, then networking with professionals in those areas, and then, finally, updating your resumé before you apply for roles. Next…

Have a contingency plan — even the smartest risks don’t always pan out as expected, which is why it’s important to have a contingency plan in place. That means thinking ahead about what you’ll do if things don’t go as planned, which gives you a safety net — reducing the fear of failure and making it easier to take the leap. You can do this by identifying alternative paths or backup plans that you can turn to if your initial plan doesn’t work out. Knowing you have a plan B can make it easier to commit to taking the risk in the first place. OK, next…

Embrace the learning experience — every risk, whether it leads to success or failure, is an opportunity to learn and grow. Embracing the learning experience means viewing each risk as a chance to gain new insights, skills, or understanding, regardless of the outcome, and it shifts your focus from the fear of failure to the benefits of personal growth. Reflect on each experience, identify what you’ve learned, and consider how you can apply those lessons to future decisions. This mindset makes risk-taking feel less daunting and more like an important part of your personal development (which it is!). Next…

Get support — having a strong support network can make a big difference when it comes to taking smart risks; surrounding yourself with people who believe in you and encourage you to step outside your comfort zone can boost your confidence and provide valuable advice, and it creates a positive environment that nurtures risk-taking and growth (plus it can also help you stay accountable and motivated). You can do this by seeking out mentors, friends, or colleagues who have experience in the area you’re venturing into, and who can offer guidance and encouragement. Next…

Reflect on your progress — by regularly looking back at the risks you’ve taken, the outcomes, and the lessons learned, you can refine your approach and make better decisions in the future… which turns each risk into a valuable learning experience, rather than just a success or failure. Set aside time to review your progress, whether that’s through journaling, discussing your experiences with a mentor, or simply thinking through what worked and what didn’t. This ongoing reflection helps you to stay mindful of your journey and continually improve your risk-taking strategy. Next…

Trust your instincts — look, research and preparation are essential…. but it’s also important to listen to your intuition. Very often, despite all the analysis, your gut feeling will guide you towards the right decision because it taps into your subconscious understanding and experience, which might not be fully captured through logical analysis alone. You can do this by tuning into your intuition and considering how you feel about the risk on an emotional level. If your gut tells you that something feels right, even if it’s a bit scary, it might be worth pursuing. Speaking of, my next tip is…

Take a chance! — if there’s one thing you leave this episode with it’s this: you can do all the thinking, research and planning you like… but sometimes you just have to take a leap of faith. The conditions will never be 100% perfect, and so sometimes you need to just give things a go and trust that you’ll land on your feet. Obviously that involves still being conscious of smart risk-taking, but listen to your heart; don’t let yourself get so caught up in analysis that you never end up doing the thing. I wouldn’t still be doing this show that I love with all my heart and soul if I hadn’t have taken a chance!

Summary and Close-out

Because when it comes to taking more risks and your mental health, what it all boils down to is this:

Taking smart risks is about embracing the possibilities that life has to offer, and stepping into the unknown with confidence and purpose. It’s not about avoiding failure, but about recognising that every risk, no matter the outcome, brings with it the potential for growth and discovery. When you take risks thoughtfully and with intention, you open doors to new opportunities, and move yourself closer to the life you truly want to live. So, don’t let fear hold you back — trust in your ability to navigate uncertainty, and take one step at a time towards your goals.

The choice is yours, as it is with all things related to your wellbeing… so, what choice will YOU make today? 

Each week I like to finish up by sharing a quote about the week’s topic, and I encourage you to take a few moments to really reflect on it and consider what it means to you. This week’s quote is by Erica Jong, and it is:

“…if you don’t risk anything, you risk even more.”

Erica Jong

Alright… that’s nearly it for this week!

Support my show on Patreon for early access to ad-free episodes and more; you’ll find it linked in the episode description.

And let me know, how do you take more risks in life? If you’re on Spotify you can share in the Comments section below, otherwise let me know on Instagram @ltamentalhealth or on the transcript, which you can have delivered straight to your inbox each week; sign up at ltamh.com or use the link in the episode description. And for more content follow my other Instagram account @itsjeremygodwin. 

Next week I’ll be talking about how to enjoy your life more. If you’ve ever found yourself stuck in a rut then you’ll know how awful it can feel to be bored and dissatisfied with the way things are… but shaking things up is scary, right?! Well, sure, it is… but it will absolutely change everything for the better, and next week I’m going to talk about how to do it for the sake of your mental health! I’ll be talking about what enjoying your life more means, why it matters, and how to do it.

That episode will be released on the 29th of September, 2024, and I hope you’ll join me for it! Hit ‘follow’ on your podcast service and press the bell to turn on notifications so you never miss an episode.

Thank you very much for joining me today. Look after yourself and make a conscious effort to share positivity and kindness out into the world… because you get back what you put out. Take care and talk to you next time!

Let’s Talk About Mental Health is an independent program proudly produced by Reconnaissance Media. For more information visit reconnaissancemedia.com   

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My Daily Reflection Tool is a buy-once-use-forever PDF tool that helps you to do the work that will lead to better mental health and well-being. Plus I have a Masterclass Video which is like your own coaching session with me so that you can get the most out of your daily tool. Buy the two as a bundle and save 20% for a limited time! Click the links below for your chosen product(s):

Click here for details of mental health resources in most countries.

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ADDITIONAL INFORMATION

Find more content at www.letstalkaboutmentalhealth.com.au

Let’s Talk About Mental Health.
Making Mental Health Simple.

Let’s Talk About Mental Health. © 2024 Jeremy Godwin.

The information provided in this episode is for general awareness on the topic and does not constitute advice. You should consult a doctor and/or mental health professional if you’re struggling with your mental health and wellbeing. You’ll find additional information on the Resources page of this website.