Connect with us

News

9 Right Ways to Take Risks

Published

on

Kindly share this post

Risks are a part of life you can’t avoid, especially if you want to be successful. As a result, you have to learn the secrets of taking risks that will help you yield the best results. Jumia Travel, the leading online travel agency, shares 9 of these secrets to help you learn to take risks the right way.

Weigh the Risks and Benefits
Before taking risks, you have to ask yourself if the risk is worthwhile. You should consider and understand how much a risk taking ventures involves and its potential benefits. Always compare the possible consequences to the possible benefits of the risk to determine if the risk is worthwhile to you.

Be Realistic About What Could Go Wrong
You should remember that it is possible for your risk not to pay off and you should thus put the consequences in perspective. You should be sure you can deal with these consequences before moving forward with the risk.

Never Put Everything on the Line
This might seem counter-productive, but taking risks does not translate into recklessness. You have to be smart about it. Avoid over stretching yourself in the name of taking risks, and avoid putting all your time or cash into one venture, the odds of ruin are just too high. Always have a ‘safety net’ and a plan B for if the risk fails.

Always Have a Plan B and Even C
This can sincerely not be over-emphasized. You should always prepare for and think of a way out of or a way to deal with any negative consequence of your risks. Please do not take risks that end up leaving you trapped in unhealthy or inhumane situations. Always plan a way out or a way to deal with the consequences before-hand. It doesn’t have to be something so elaborate; it can be as simple as thinking of and having someone to go to if things go south.

Think For Yourself
You are the one taking the risk, it is therefore only appropriate that you learn to think for yourself and use your common sense to reach a conclusion before moving forward. You can listen to others advice and opinions or contributions, but ultimately the decision to take the risk should be yours and should be based on your judgement and assessment of all circumstances involved. If you feel you can’t trust your own judgement, seek the face of someone whose judgement you trust.

Take One Risk at Time
This goes without saying. You can go ‘big’ but don’t go ‘overboard’; this should be your rule for taking risks. Taking more than one risk at time is like being a woman who decides to wear bold makeup with bold jewelry, sky-high heels and a sequined shinny dress all at once. You’re going overboard and like the woman, you’re more likely to fail in risk taking.

Know Your Limits
Before taking risks, you should adhere to some personal guidelines. You should understand how much you are willing to tolerate and what will cause you to stop or back out completely from the venture. Adhering to safety standards that are comfortable for you, is what will keep you ‘alive’ during the ‘dangerous’ and ‘uncertain’ periods of your risk taking venture.

Remember that Risk Taking is Relative
Everyone has different tolerance to risk taking; you should therefore never compare your risk taking tolerance to that of another person. You can push yourself beyond your comfort zone, but never do so beyond what you can handle if things go wrong.

Be Positive
Once you’ve judged a risk as worthwhile, have planned a reasonable way to go about the risk taking venture and have prepared the appropriate safety net, try to be positive and picture everything going well. Positive thinking will help you build the confidence you need to go through the risk.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

News

Coronation Report Reveals Key Role of Private Sector to Nigeria’s Infrastructure Funding

Published

on

Kindly share this post

The maiden edition of Coronation group infrastructure report has revealed that the private sector has a critical role to play in infrastructure funding in Nigeria.

The report stated that the key to private-sector infrastructure investment is for dealmakers to structure transactions that offer attractive returns combined with an acceptable degree of risk, the risk often being eased by agreements supplied by infrastructure investment vehicles such a Infracorp.

The report said that the investor base can play its part, providing liquidity as part of its own efforts to create long-term returns with low relationship with public markets.

The report noted that Nigeria’s future infrastructure development depends on private capital, including capital allocated to Public Private Partnership (PPP) ventures, given the huge amounts of money required and the inability of government to provide it.

The report explained that the record of the federal government in capital expenditure over several decades highlighted the need for increasing private-sector investment, adding that public expenditure on transportation, education, hospitals, power, housing, and other essential infrastructure has not kept up with the needs of a population growing at a long-term rate.

The report said Public-private partnership differs from government capital expenditure in that it must pay for its capital, noting that it must attract private sector capital and therefore provide better returns than the risk-free returns of government debt.

According to the report, “Inflows of petro-dollars into government coffers did not translate into proportionately more being spent on capital expenditure, surely a missed opportunity. Still worse was to follow in the period 2011-2020 when the average level of public sector capital expenditure fell to 1.1 percent of Gross Domestic Product (GDP).”


Kindly share this post
Continue Reading

News

DLM Asset Management Set to Host Webinar to Discuss Financial Stability in Times of Economic Distress

Published

on

Kindly share this post

DLM Asset Management Limited, a subsidiary of DLM Capital Group, is hosting a webinar with the theme, “Maintaining financial stability in times of economic distress.” The much-awaited webinar, slated for Thursday, March 28, 2023, at 11 a.m., is going to cover the essential strategies to navigate through economic challenges and safeguarding one’s financial future.

Hosted by industry experts, the webinar will delve into the following key topics and teach attendees:

  • How to adopt a proactive, knowledgeable, and adaptable approach to risk assessment and mitigation.
  • How to thrive in this present economy and remain financially resilient.
  • Financial planning and discipline

During its interactive Q&A session, attendees will have the opportunity to ask questions and learn more about the subsidiary’s services from the hosts and speakers of the webinar. This includes the DLM fixed income fund, which Nairametrics identified as one of the top-performing Nigerian mutual funds in 2023.

This webinar is designed for investment savvy individuals Income earners, institutional and corporate investors, high net worth individuals, and the mass retail market.

Interested parties can register for the webinar by using this link, which is currently active. Seize the opportunity to gain experience on insightful things and get ready for a rewarding encounter.

 


Kindly share this post
Continue Reading

News

Firm Canvasses Affordable Technology to Drive Business Efficiency

Published

on

Kindly share this post

Information Communication Technology (ICT) service provider, Thamani Consulting, has stressed the need to make technology much affordable so as to make businesses seamless and efficient.

Olubunmi Abegunde, Managing Partner of the company, averred that making technology access affordable would enhance its penetration and increase uptake of digital technologies to drive employment growth of more than 22 million Africans joining the workforce each year.

He explained that the organisation remained committed to empowering businesses to thrive in Nigeria’s dynamic environment, hence churns out innovative solutions to address business problems across disciplines.

“Leveraging 20 years of combined market experience executing successful IT Projects with local and multinational organisations, we aim to capitalise on this to improve strategic utilisation of technology in Africa and support capacity building through access to requisite information technology,” he said.

He explained further that the African region more than others need increased usage of digital technologies to level-up globally, noting that polices to drive low-end technology access must be prioritised.

“This is why we do not compromise the balance of quality, standard professionalism and yet affordability in the choice of solutions we offer to clients which include: SAP training and Implementations, Software Asset Management, Plant Maintenance Process Automation and Automation for manufacturing Industries, amongst others.”


Kindly share this post
Continue Reading

Trending