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Coming up next on Passion Struck.
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Risk-taking is a necessity because it drives progress, innovation, and growth in a rapidly evolving world where change is constant and opportunities are fleeting.
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Taking calculated risks is the catalyst that propels individuals, businesses, and societies forward.
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Welcome to Passion Struck.
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Hi, I m your host, John R. Miles, and on the show, we decipher the secrets, tips, and guidance of the world s most inspiring people and turn their wisdom into practical advice for you and those around you.
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Our mission is to help you unlock the power of intentionality so that you can become the best version of yourself.
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If you re new to the show, I offer advice and answer listener questions on Fridays.
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We have long-form interviews the rest of the week with guests ranging from astronauts to authors, CEOs, creators, innovators, scientists, military leaders, visionaries, and athletes.
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Now, let s go out there and become passionstruck.
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Hello, everyone, and welcome back to Momentum Friday and episode 331 of Passion Struck.
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Ranked by Apple is one of the top 10 health podcasts and the number one alternative health podcast.
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And thank you to each and every one of you who come back weekly to listen and learn how to live better, be better and impact the world.
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Passion Struck is also on syndicated radio on the Brushwood Media Network, and you can tune in Monday and Friday from 5 to 6 p.m.
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Eastern Time on your evening commute.
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Links will be in the show notes.
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If you re new to the show, thank you so much for being here.
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Or you simply want to introduce it to a friend or a family member, we now have Starter Packs, which are collections of our fans  favorite episodes that we organize into convenient topics that give any new listener a great way to get acclimated to everything we do here on the show.
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Either go to Spotify or passionstruck.com slash starter packs to get started.
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In case you missed it earlier in the week,
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I had two great interviews.
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The first was with neuroscientist Dr. Caroline Leaf, who is known for her science-backed mind management techniques.
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We discussed her brand new book, How to Help Your Child Clean Up Their Mental Mess.
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I also had on social psychologist and Stanford professor Brian Lowry.
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In our interview, we discussed Brian s new book, Selfless.
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the social creation of you, and we delve into the depths of introspection.
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We peel back the layers of conditioning, societal expectations, and self-imposed limitations, learning how to allow our authentic selves to emerge from the shadows.
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Please check those all out.
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And I also wanted to say thank you so much for your continued support.
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If you loved any of those episodes or today s, we would so appreciate it if you gave it a five-star rating and review.
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All those ratings and reviews go such a long way into helping us increase the PassionStruck community where we can give people meaning, hope, connection, and inspiration in their lives.
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I also know that we and our guests love to hear comments from you.
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In fact, you can go to the show notes where we have the email address where you can write in and give suggestions for topics that you would like to hear me cover on these Momentum Friday episodes.
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or you can ask us to have certain guests on the show as well.
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Now let s talk about today s episode.
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As individuals, we each harbor dreams and aspirations, seeking to optimize opportunities for personal growth and extraordinary achievement.
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However, the path to realizing these desires is often
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accompanied by uncertainty, and choosing to embrace these ambitions despite the risks involved is a crucial decision.
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Frequently, when the term risk is mentioned, we tend to associate it with something that is hazardous and linked to negative outcomes.
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We often view risk-takers as imprudent individuals engaging in potentially harmful activities, and thus we see risk as something to steer clear of.
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However, in its genuine essence, taking risks is a
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a fundamental aspect of life for anyone who is seeking progress and growth.
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In this episode, I ll discuss the necessity of risk-taking, delving into the distinction between healthy risks and poor choices.
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I ll emphasize the significance of embracing healthy risks.
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delve into the reasons for our reluctance to take risks, and ultimately demonstrate how you can take calculated risks that lead to mutually beneficial outcomes.
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To kick things off, let s explore the inspiring stories of Netflix s founders, Reed Hastings and Mark Randolph, who fearlessly took risks and achieved remarkable success as a result.
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Thank you for choosing PassionStruck and choosing me to be your host and guide on your journey to creating an intentional life.
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Now, let that journey begin.
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The story of Netflix is a tale of risk-taking and innovation that revolutionized the entertainment industry.
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It all began in the late 1990s when two entrepreneurs, Reed Hastings and Mark Randolph, decided to challenge the traditional video rental model.
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that was dominated by brick and mortar stores like Blockbuster.
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Reed Hastings, frustrated by paying late fees for rented videos, came up with the idea of an online DVD rental service that also had no late fees.
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This concept was the first risk that was taken by the founders.
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In 1997, Hastings and Randolph co-founded the company Netflix.
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offering a novel way for customers to rent DVDs online and have them delivered to their house through mail.
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In the late 1990s, the Internet was still in the early stages and e-commerce was not as prevalent as it is today.
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So betting on its profitability was a risk for them.
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However, Hastings and Randolph saw the opportunity to harness the Internet s reach and efficiency to transform the way that people watch and rented their movies.
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The original business model was built on the assumption
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that the majority of customers would appreciate the convenience of online ordering and home delivery over visiting physical rental stores.
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Thankfully, it worked out well and gained traction.
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As Netflix s online rental operations progressed, the founders faced yet another pivotal moment.
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Whether to stick with the DVD rental-by-mail model or take an even bigger risk and pivot into streaming, Reed Hastings saw the potential for streaming technology.
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and its ability to disrupt the DVD rental market even further.
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In 2007, Netflix introduced its first streaming service, allowing subscribers to watch movies and TV shows instantaneously over the internet on their computers.
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This was such a significant risk.
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as it required renegotiating license agreements with content providers, investing heavily in streaming infrastructure, and most importantly, convincing subscribers to adapt to this new model.
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At the time, streaming technology was still in its infancy, and the concept of binge-watching shows had not yet become a cultural norm.
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Despite these challenges, the gamble paid off.
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The streaming service became wildly popular, positioning Netflix as a pioneer in the digital media landscape.
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As the company grew, it faced increased competition from traditional media companies to other streaming services.
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To stay ahead, the founders made yet another risky decision, investing heavily in producing original content.
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By creating and owning its own shows and movies, Netflix reduced its reliance on external studios and gained more control over its offerings.
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The move required substantial financial investments, and the success of the original content was uncertain, but it ultimately propelled Netflix to new heights.
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The last risk that was undertaken by the Netflix founders was expanding Netflix s reach beyond the United States.
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They believed that the service could succeed globally, even in diverse markets with varying taste and experiences.
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Expanding internationally was a challenging feat as it involved adapting
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to local cultures, dealing with language barriers, and navigating complex licensing agreements.
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However, Netflix s calculated risk paid off and it successfully became a global entertainment powerhouse.
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The trajectory of Netflix s journey serves as a primary example of how embracing innovation and fearlessly embarking on audacious risks
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and paved the way for extraordinary accomplishments.
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The insights gleamed from their stance on risk-taking hold relevance not only for their business journey, but also offer valuable applications in our individual lives.
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Now, let s dive into the essence of risk and why it truly matters.
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In doing so, it s essential to understand that
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But not all risks are the same, and the key lies in differentiating between healthy risks and unnecessary ones, which are merely bad choices.
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Healthy risks are well-researched, educated, and taken responsibly.
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They are calculated endeavors that offer the potential for positive outcomes and personal growth.
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On the other hand, unnecessary risks stem from impulsivity and the lack of consideration for potential consequences leading to unfavorable results.
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For example, putting all of your savings into a new venture without understanding the market and industry dynamics and merely hoping for success is an outrightly reckless approach, representing an unnecessary risk.
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Conversely, engaging in thorough research, seeking expert advice, and thoughtfully investing a portion of your savings in a well-assessed opportunity represents a worthwhile risk.
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As we proceed, it s crucial to be mindful and intentional about the types of risks that
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we choose to embrace.
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Making well-informed decisions and being aware of potential pitfalls can significantly impact the outcomes of the risks that we take.
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The ultimate goal is to adopt a balanced approach, engaging in educated and responsible risk-taking while avoiding hasty and reckless choices.
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This way we can navigate the path of growth more effectively and with greater confidence.
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Let s go through the importance of taking risks.
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In various aspects of life, whether it s forming new connections, facing a large audience while giving a keynote speech, embarking on a hiking adventure, or investing in a business venture, there is an inherent level of risk involved.
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However, when approached with careful planning and consideration, risk-taking can be a positive and transformative force.
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Indeed, risk-taking has been the catalyst behind groundbreaking innovations, remarkable entrepreneurial achievements, and life-altering experiences.
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In her book, The Art of Risk, The New Science of Courage, Caution, and Chance, Kat Zuckel emphasizes that risk-taking
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is an integral part of the brain s learning system.
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It is there to push on boundaries and help us to learn and to adapt.
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Sticking with the status quo does us no favors.
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Risk offers us potential, the type of potential that can help us grow, explore, and respond to the world around us.
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Risk-takers tend to have more developed neural networks, even from a biological perspective.
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This was unveiled in research undertaken by the University of Turku in Finland under the direction of SINTEF, one of Europe s largest independent research organizations, where scientists discovered a distinction in white matter, the intricate neural network responsible for effectively processing
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and relaying information within the brain between individuals categorized as high-risk takers and those deemed low-risk takers.
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The group classified as high-risk takers exhibited notably greater levels of white matter within their brains, a phenomenon associated with greater intelligence compared to risk-adverse ones.
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Engaging in well-considered risk-taking allows us to understand our capabilities better and ultimately unlock our full potential.
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The question then becomes, why do we avoid taking risks?
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As humans, our innate nature compels us to embrace risks as a means of personal growth.
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During our early years as toddlers, we fearlessly took risks, learning to walk, persistently standing and falling, until we began to walk and eventually run.
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Our curiosity drove us to explore any items that we found laying around, and we constantly tried out new things.
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However, as we progress into adulthood, we often withdraw from endeavors that foster continued growth.
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This transition from a proactive, risk-taking attitude to a more cautious, risk-adverse stance was illuminated by a study conducted by neuroscientists at Duke University.
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A study titled Neurocognitive Development of Risk Aversion from Early Childhood to Adulthood, who generally exhibit lower risk aversion compared to adults, display reduced activation in the ventromedial prefrontal cortex and ventral striatum, which are brain regions associated with cautious decision-making under risk.
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As they mature, the brain regions undergo further development and better activation, decreasing their inclination towards risk.
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However, as adults who comprehend risk as a factor for continued growth, we may still refrain from taking risks due to two primary reasons, fear and comfort.
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Fear serves a crucial purpose in our lives by keeping us rational and cautious.
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Its presence allows us to understand the risks that are associated with certain ventures.
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Without fear, we might unnecessarily take dangerous risks that could lead to severely unfavorable outcomes.
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However, fear can become problematic when it hinders our growth.
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This type of fear is often fueled and intensified by factors like pessimism and overthinking, allowing it to hold us back from taking necessary steps that can impede our progress.
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While it s normal to experience fear while venturing into the unknown, facing those fears head-on is essential for reaching our full potential.
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By acknowledging fear s role and pushing ourselves beyond its confines, we embark on a transformative journey of growth and self-discovery.
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For more information on this, listen to my solo episode, 130, on how to stop living in fear and letting it control you.
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Now, the second thing we re going to discuss is comfort.
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As humans, our instinct is to avoid risks as a way of self-preservation.
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However, this risk-adverse behavior can make us overly comfortable in our current circumstances, hindering us from pursuing more meaningful opportunities.
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The inclination to remain in our comfort zones is a common trait that s found in everyone, as Carol Dweck discovered in her research.
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Still, to make progress in life, we must intentionally step beyond these boundaries, as I discussed in episode 72.
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As the saying goes, a rolling stone gathers no moss, implying that continuous movement and taking calculated risks can lead to growth and success.
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On the other hand, remaining stagnant can cause us to accumulate moss or stagnation, causing us to play small in our life and preventing us from reaching our full potential.
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By challenging ourselves
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and intentionally seeking new opportunities.
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We can break free from the confines of our comfort zones.
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So let us be deliberate about taking the steps towards growth and avoiding complacency in our journeys of progress.
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So now we re going to go into the most critical aspect of this entire episode, which are different steps that I have found help me and I hope will help you achieve effective risk-taking.
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As I previously emphasized, taking risks requires careful consideration as well as a strategic approach.
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To mitigate the likelihood of negative outcomes and enhance the chances of positive results, I recommend implementing the following practical measures.
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The first is to clarify your intentions.
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Clarifying your intentions is a foundational step in the art of intentional risk-taking.
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It involves delving into the depths of your desires and motivations and understanding the why behind the risk that you are contemplating.
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By clearly understanding your intentions, you can discern whether the risk is driven by genuine passion and purpose or influenced by external pressure and fleeting impulses.
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Reflecting on your intentions enables you to cultivate self-awareness and make decisions that align with your authentic self.
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Consider how the potential risk resonates with your core values and how it harmonizes with your long-term aspirations.
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When your intentions align with your core values, you create such a powerful synergy that propels you forward with meaning and fulfillment.
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deep purpose behind the risk empowers you to approach it with a focused and determined mindset.
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It becomes more than just a leap into the unknown.
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It becomes a strategic leap towards personal growth and self-actualization.
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The second step is to reflect on your priorities before venturing into risk-taking.
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Examine the core values, beliefs, and long-term goals that define your sense of purpose and guide your life s trajectory.
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By delving into what truly matters to you, you gain clarity on the essence of your being and what you aspire to achieve.
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This self-reflection acts as a guiding compass when you re considering potential risks.
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It enables you to align your actions with your authentic self, ensuring that any risk that you undertake contributes meaningfully to your vision of a fulfilling life.
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By discerning the impact of the risk and your overarching life vision, you can make well-informed decisions that resonate deeply with your values.
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Intentional risk-taking is about more than seeking novelty or thrill.
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It becomes an intentional act of self-investment.
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paving the way towards your personal growth and fulfillment.
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Each risk becomes an opportunity to move closer to the life that you envision, fostering a sense of purpose and direction in your journey.
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The third step in effective risk-taking is to assess the risks, assessing risks with a deeper understanding of their purpose.
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elevates the decision-making process to a profound level of consciousness.
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You can begin by creating a list detailing the pros and cons of the risk that you re contemplating, carefully evaluating what aspects outweigh others.
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While the outcome of a risk remains uncertain, conducting a thorough analysis can help you reduce the potential for failure.
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This evaluation process is not merely about calculating possibilities.
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It encompasses how the risk aligns with your personal growth and self-realization journey.
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As you assess the risk through those lens, you delve into the underlying motivation that s driving your choices.
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You scrutinize whether the risk holds the potential to stretch your limits, challenge your beliefs, and propel you out of your comfort zone.
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This introspective analysis allows you to gauge the alignment of the risk
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With your long-term aspirations and values, you become attuned to the transformative power of stepping into the unknown, understanding that growth often emerges from moments of uncertainty and vulnerability.
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The fourth step is that you have to have a support system.
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When it comes to risk-taking, you can t make all the best decisions all by yourself.
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You will need the help and support of like-minded people who understand your intention to take calculated risks.
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This set of people can guide you and offer insights that will help protect you from taking unnecessary risks and maximize your chances of success in your risky endeavors.
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Make sure you don t shy away from taking their advice.
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and perspectives on the actions that you intend to take.
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That way, even if things don t turn out the way that you had hoped, they will provide you with the needed fortitude as well as the emotional backing to keep your head high and sustain your determination on your growth path.
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The fifth step is to practice self-care and compassion.
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It is so important to celebrate your victories, no matter how small they may appear.
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Similarly, avoid being too hard on yourself when certain risks don t yield desired outcomes.
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It s essential to understand that the only aspect within your control is the choices that you make on a daily basis.
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While you can give your best effort, the ultimate results may be influenced by factors beyond your control.
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Thus, be gentle with yourself and refrain from being overly critical.
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Become your own greatest supporter, acknowledging the courage that it takes to embrace risks and continue to move forward with resilience and positivity.
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The sixth step is to learn from failure and disappointment.
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Taking risk inherently involves encountering obstacles and the possibility of failure.
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However, how you perceive and respond to failure is subjective.
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You can opt to extract valuable insights from these experiences, empowering you to make better decisions in the future, or choose to dwell on the pain of failure, which will lead to only lingering regrets.
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Rather than dwelling on setbacks,
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Channel your energy into moving forward and seizing new possibilities.
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Embrace the mindset of continuous growth and remain open to taking healthy risks to achieve your goals.
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Remember that the path ahead is filled with potential, and the lessons that you learn from failures can guide you towards greater success and fulfillment.
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In conclusion, Mark Zuckerberg wisely said, the biggest risk is not taking any risk in a world that s changing quickly.
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The only strategy that s guaranteed to fail is not taking risks.
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The message here is clear.
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Life is filled with uncertainties and embracing risks is essential for progress and success.
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By embracing risks, we unlock the gateway to personal growth and achievement.
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While immediate success may not always follow, each risk that we take propels us closer to our goals, shapes our character, and enriches our life experiences.
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True success lies not only in the outcome, but in the transformative journey where we conquer hurdles, face challenges, and learn valuable lessons along the way.
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Now is the time to seize the moment and take action.
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Don t allow fears to overpower your motivation.
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Embrace the learning process and remember that every experience, be it a triumph or a setback, contributes to your growth.
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This episode s guidance encourages prudent risk-taking.
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out of your comfort zone and seizing the opportunities that come your way.
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As you take these brave steps, you ll discover new horizons, seize untapped opportunities, and create a life that aligns with your wildest aspirations and dreams.
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So let courage and purpose be your guides as you embark on the exhilarating journey
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embracing risks and shaping a future that is truly your own.
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I hope you all enjoyed the show and I wanted to thank everyone this week who wrote in and especially those who listened.
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Links to the transcript for today s episode will be in the show notes.
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Videos are on YouTube at both John R. Miles and Passionstruck Clips.
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I also have some exciting news that my new book, Passionstruck, is available now for pre-order on Amazon.
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Links will be in the show notes.
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As I mentioned at the beginning, we are now on syndicated radio on the Brushwood Media Network.
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Links will be in the show notes.
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Advertiser deals and discount codes are in one convenient place, both in the show notes and at passionstrike.com slash deals.
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You can find me on Twitter where you can sign up for my newsletter, or you can catch me at John R. Miles on all the other social platforms.
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You re about to hear a preview of the Passion Strike podcast I did with Rebecca Rosen, who is a psychic medium and the author of the brand new book, What is Heaven?
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Rebecca serves as a mediator between two realms, the physical world, which entails everyday problems, and the spiritual world, where she has gained incredible insight that every individual is born with a unique mission, and it is our responsibility to fulfill it in this earth school.
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You re making choices in the frequency of shadow, in ego.
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You re disconnected.
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And it s a very limited place.
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It s a very fear-based place.
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And that s what creates our depression, our struggle, our frustration, our anxiety.
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And that is a definition of a living hell.
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But it doesn t have to be that way.
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It s not supposed to be that way.
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When you plug in every day to your higher self, to your team and spirit, to your source, whatever you call it,
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and it becomes a collaboration or co-creation with this divine energy, you then show up and connect into those frequencies of light.
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And you make choices from light, which is that aligned place, the place that connects to love and compassion.
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Remember that we rise by lifting others.
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So share the show with those that you love and care about.
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And if you found today s episode on the necessity of risk taking useful, please share it with somebody who could use the advice that I gave on today s show.
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In the meantime, do your best to apply what you hear on the show so that you can live what you listen.
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And until next time, go out there and become passion struck.