Among all those experiences that have shaped me into what I am, this is a lesson outstanding: “Take risks, but stay true to your values.” It is simple yet profound advice which, if I went back in time, I would give to my younger self—a mantra, so to say, which will lead anybody seeking successfully to navigate life’s complexities and work. Life tosses us into situations where taking a chance is necessary, but one thing that can easily be overlooked in such situations is that every risk taken must be in accordance with one’s inner compass—one’s values.
The Power of Risk Taking
It follows that taking risks is an essential part of growth, not only as a person but also as a professional. Without risk, there is stagnation. The comfort zone may be where one would want to spend their life, but in reality, it’s where dreams die quietly. In relation, the late co-founder of Apple, Steve Jobs, once quipped, “The people who are crazy enough to think they can change the world are the ones who do.” And it is bold actions that fuel progress, after all. Seemingly, risk-takers find themselves leading innovation and sometimes even leadership quite frequently. Take, for example, how an Indian businessman named Dhirubhai Ambani transformed one of the largest conglomerates in the world, Reliance Industries. Starting off with a small trading company, he plunged headfirst into businesses that nobody else dared to touch because they were uncertain. What made quite a difference was his belief in his vision; that is, values such as never quitting and service to India. His risks were not careless but innate in his mission and vision for his company and his country.
Similarly, Elon Musk, the man behind companies like Tesla and SpaceX, was a serial risk-taker throughout his career. Apart from investing millions into ventures like SpaceX—after the world had doubts over whether space exploration would be privatized—Musk’s audacity to dream big has paid off.
In fact, all these risks have not been taken in space. Musk has always made it known that his vision is centered on sustainability and improving humankind. They are values underpinning his decisions, placing his risks in a greater sense of purpose.
Risk without Values: The Downsides
But risks without adherence to values might bring perilous consequences.
Consider the 2008 financial crisis. Thousands of actors within the financial sector gambled without precaution for the sake of gains, more often than not at the expense of principles and values of integrity and responsibility. The result was catastrophic: several large institutions went down, and masses were affected worldwide. It was a sad reminder that risk without ethics and morals can undermine prosperity.
Take, for example, Satyam Computer Services in the Indian context. From the leading IT Company to shortcuts by the leadership in making unethical financial decisions, Satyam ran into one of the largest corporate fraud scandals in the country. Values like transparency and integrity were devoid of the risks taken that brought about the nosedive of the company and shattered the trust of investors and employees alike.
Staying Grounded in Values
But how can you then take radical risks and stay in integrity with what’s important to you? It starts when you identify and understand what those values are: What are the core values that you live by? This could be values such as honesty, empathy, respect for others, or commitment to sustainability. Indeed, once clear about your values, they become the lens through which you evaluate every risk and opportunity.
For example, the risk-taking by Mahatma Gandhi in the fight for independence was revolutionary, but he never compromised on the values of non-violence and truth. Hence, the values of Gandhi acted as a moral compass even in front of huge challenges to make sure that the risks taken conformed to his higher goal of attaining justice without shedding blood.
The founder of Infosys, Narayana Murthy, represents this tradeoff between risk-taking ability and adherence to values quite well in today’s business arena. When Infosys started operations, there was no guarantee that the company would emerge as a winner, more so being an emerging market in India. Yet Murthy made some pretty bold moves, such as best practice for ethical behavior when it was least expected. For him, there could not be any compromise on trust in relationships with clients nor integrity, which then formed the bedrock for Infosys’ reputation across the world.
Unknowing the Terrain
Risk is often correlated with fear—fear of failure, judgment, or the unknown. Failure is most often the ladder that precedes success. In the words of Winston Churchill, “Success is not final, failure is not fatal: It is the courage to continue that counts.” Risk-taking enables taking setbacks in stride; it’s part of one’s journey, not the endpoint. Regarding innovation, great entrepreneurs have resulted in many failures before they were able to accomplish great heights. It is famously quoted from Thomas Edison, “I have not failed. I’ve just found 10,000 ways that won’t work.” Edison’s risks were monumental; however, his values of persistence, inquisitiveness, and dedication to problem-solving kept him grounded at each failure by which he created one of the most important modern-day inventions.
This is that lesson which hits home, probably much more in healthcare and consultancy. The health sector is full of challenges such as increased costs, regulatory changes, and further demands from patients. In an environment like this, risks must be undertaken for one to be ahead of the pack. Yet, it is just as important to make sure these risks do not compromise the values of patient care, ethical responsibility, and transparency.
A Balanced Way Out
Taking risk doesn’t mean being true to your values; it means the opposite—playing it safe. It’s about having the courage to step into what’s next, but still having your feet on the ground with regard to what matters. Whether you are a businessperson in start-up mode, a healthcare professional, or a leader in any field, the best risks are taken with purpose and character. Anchored by values, direction shows up when the way forward isn’t clear.
As you go forth, remember the words of Nelson Mandela: “I never lose. I either win or learn.” Let this be your guide as you go out and take risks in life—business, personal growth, or relationships. Be true to thine own self, and thus, failure covers the hemisphere called success. The greatest risk of all, in the end, is not taking one, but the consequences of avoiding it because one is afraid. Otherwise, potential might be left unexploited, dreams unrealized. However, when you take risks consistent with your values, then you make a path to a satisfying and rewarding life.
Learn more about how to become a Top Performer at: ORL Leadership Summit 2024.
Dr. Prahlada N.B
MBBS (JJMMC), MS (PGIMER, Chandigarh).
MBA (BITS, Pilani), MHA,
Executive Programme in Strategic Management (IIM, Lucknow)
Senior Management Programme in Healthcare Management (IIM, Kozhikode)
Postgraduate Certificate in Technology Leadership and Innovation (MIT, USA)
Advanced Certificate in AI for Digital Health and Imaging Program (IISc, Bengaluru).
Senior Professor and former Head,
Department of ENT-Head & Neck Surgery, Skull Base Surgery, Cochlear Implant Surgery.
Basaveshwara Medical College & Hospital, Chitradurga, Karnataka, India.
My Vision: I don’t want to be a genius. I want to be a person with a bundle of experience.
My Mission: Help others achieve their life’s objectives in my presence or absence!
My Values: Creating value for others.
Leave a reply
Leave a reply