Welcome to the Stop Sabotaging Your Success podcast, episode one hundred and twenty-five. I’m your host, Cindy Esliger. This is the podcast focusing on what we can do today to take control of our careers and overcome the inevitable barriers to success that we encounter along the way. 

Navigating the winding path of career advancement requires a delicate balance between risk and confidence. Every professional faces this conundrum: when to play it safe and when to take that leap into the unknown. Maybe you’re at a particular crossroads in your career, recognize that the choice you make can either propel you forward or keep you tethered to your current spot. It’s about understanding your own risk tolerance and confidence level. Whether you’re just starting out, firmly planted in mid-career, or a seasoned veteran in your field, grasping these dynamics is crucial for growth and fulfillment in your professional life. 

In this episode, we explore the fear we have around taking risks. What we deem risky is deeply personal, informed by our experiences, biases, and the particular professional landscapes we are currently trying to navigate. What feels like a daring leap to one might seem like a calculated risk to another. This subjectivity makes our career decisions all the more complex. The challenge lies in not only assessing the actual risks, but also in understanding how our perceptions of these risks are colored by our self-confidence.

Are we holding back due to realistic assessments, or are we trapped by our own fears? Unraveling these questions is key to not just surviving in the professional world, but thriving. 

Navigating the complex web of risk, confidence, and career advancement can feel like playing a high-stakes game where the rules aren’t exactly spelled out. Early in our careers, particularly as women in fields where we tend to be significantly outnumbered by men, these elements play a critical role, often determining the trajectory of our professional lives more dramatically than our actual skills or qualifications.

First things first, let’s tackle a common misconception about risk. Risk is wildly subjective. What seems like a leap of faith to you might be another day at the office for someone else. Everyone’s tolerance for risk varies, and it can change at different points in our career. Think about it – your thrill-seeking friend who skydives for fun probably has a different comfort level for risk than, say, someone like me, whose idea of adventure is going out on a limb and choosing a new flavor at my favorite coffee shop.

But here’s where it gets interesting. Did you know that your perception of risk is directly tied to your level of self-confidence? When we perceive a higher risk, we often need to dig deep and drum up more courage to tackle it. However, confidence is slowly built over time through experiences, successes, and, yes, surviving those moments where everything seems set to crumble all around us. 

Isn’t it funny how, at the start of our careers, we’re practically overflowing with confidence? We waltz into our first job, sometimes blissfully unaware of the barriers we’re about to face. This false sense of security is largely due to our lack of experience. Without having survived a series of professional mishaps or recovered from near disasters, we’re less likely to accurately judge the risks at play. We haven’t yet learned that every decision isn’t just a step forward; some have the potential to cause backslides down a very slippery slope.

This early-career overconfidence is a bit like thinking you’ve mastered cooking because you’ve nailed making toast – sure, you haven’t burned the kitchen down yet, but maybe it’s not time to sign up for that competitive cooking show just yet. Our early bravado often overlooks the subtleties of risk because, frankly, we don’t know what we don’t know. And in male-dominated professions, being this naive can put you under a microscope. There’s a relentless spotlight that often highlights only our mistakes and quickly burns away any cover our confidence might have offered. 

Here’s where the gender dynamics in professional settings throw an extra wrench in the works. As women, not only are we deciphering our own risk tolerance and trying to build our confidence, but we’re also often battling stereotypes and biases that can skew our perceptions of both. There’s this pervasive idea that women are naturally more risk averse, which could either undermine us or compel us to take unwarranted risks just to prove a point. Sometimes, it feels like we’re walking a fine line of expectations, and let’s be honest, sometimes this fine line feels more like a rickety old suspension bridge on its last legs. 

Which brings us to another myth, that risk is inherently bad. Without stepping out of our comfort zones, we’re likely to stagnate and miss out on opportunities for growth. Yes, taking risks can lead to failure, but it can also lead to significant advancements and learning opportunities. The key is not to avoid risk, but to understand it better – to assess it with as much information as possible and make informed decisions. This takes guts but also requires having some insight, which both, thankfully, increase with experience. 

Mastering the dynamics of risk and confidence isn’t about removing uncertainty or fear from the equation; it’s about learning to get comfortable in the discomfort. And for women in male-dominated fields, career advancement isn’t just about climbing the typical corporate ladder; sometimes it’s about taking a more circuitous route that still gets us where we want to go in a somewhat less direct manner. 

By mid-career, most of us have faced a few dragons and maybe even tamed a couple. The dynamics of risk, confidence, and career advancement may evolve over time, from the wild guesswork of your rookie years, to something resembling a refined art form. Our ability to assess risks improves because our experiences have taught us which alarms are real and which are just noise. Our confidence, now based on real world outcomes rather than hypotheticals, has a more stable foundation. It’s less about proving ourselves and more about leveraging what we know to continue our upward trajectory. 

The mid-career grind comes with its own set of fun-filled challenges. For starters, you’re often caught between proving your potential for upward mobility and the comfort of the known quantities at your current level. There’s also the delightful task of managing increasingly complex projects with higher stakes, all while mentoring the next generation. No pressure, right? It’s a juggling act, where the balls you’re trying to keep in the air seem to get replaced with the occasional ticking time bomb. 

For the mid-career professional, risk starts to look a bit different because you’re starting to better understand not just your job, but also the landscape of your workplace. You know who to butter up, who to avoid on a Monday morning, and, crucially, how the office politics tend to play out. This familiarity breeds a certain type of confidence. What once seemed like a gamble, now feels like a more calculated strategy. You’ve seen things, you’ve survived things, and you’ve lived to tell the tale. 

Seasoned professionals often view risks through a lens tinted by their experiences. What scares the living daylights out of newcomers might elicit only a raised eyebrow from these veterans. It’s not that we’re fearless; it’s just that we’ve become more adept at distinguishing between genuine threats and mere shadows. Our risk radar is finely tuned, not just to the direct implications of a decision, but to the far-reaching consequences it may have down the road. Knowing the personalities involved, the historical outcomes of similar scenarios, and having a few favors in the bank changes the game. What might seem reckless for one, is merely routine for another. 

The reality is that risk isn’t just about what you decide to do; it’s also about who you are within the organization. A newcomer proposing radical changes might be seen as naive or overly ambitious, while a veteran making the same proposal could be viewed as visionary or strategically astute. It’s not just what you know, it’s how you’ve positioned yourself to wield that knowledge. 

Yet, seasoned confidence can sometimes border on complacency. There can be a fine line between being unflappable and being unresponsive. The same deep knowledge that provides a safety net can also create blind spots. Seasoned professionals might dismiss new risks because they resemble old ones that were successfully navigated. But, as we all know, history doesn’t always repeat itself because there’s always a new twist or a new personality in the mix. 

So, sometimes we need to balance our well-earned confidence with a pinch of the paranoia that served us well in those earlier days. It’s about maintaining the agility to respond to new threats without becoming predictable by relying solely on an old playbook. After all, things are always changing and today’s proven strategy could be tomorrow’s outdated plan. 

Also, the role of mentorship at all stages should not be overlooked. Becoming well-versed in the nuances of risk assessment and the subtleties of navigating your particular organizational culture is crucial. It’s not just about climbing the ladder; it’s about making it more accessible for the ones following in your footsteps. After all, what’s the point of gathering all that wisdom if it retires when you do? 

Understanding the relativity of risk is crucial at all career stages. This requires leveraging your experience while staying open to new ideas and challenges. Don’t get caught unaware. Just because you’ve mapped the terrain doesn’t mean there aren’t new lands to explore or that the old ones haven’t shifted. Risk, like everything else in life, evolves, and so should our strategies to manage it. So, whether you’re midway through your career or eyeing the retirement horizon, keep those risk assessment tools sharpened. After all, one of the biggest risks is thinking that you’re ever done learning. 

When you find yourself at a career crossroads, staring down a path that could lead to exciting new beginnings or a spectacular faceplant, remember, your main opponent is often your own brain, tricking you with illusions of catastrophes waiting behind every decision. But, let’s pause for a moment and ask: Is your fear really keeping you safe, or is it just creating anxiety at the expense of your growth? 

I’m sure I’m not alone in my ability to picture the worst-case scenarios. It’s like my mind is hardwired to think that taking one bold step forward will inevitably lead me to backslide and undo all that I’ve spent years working for. Yes, the stakes may be high, but the exaggerated nightmares of your own making are just making it worse. It’s crucial to balance these horror stories with a dose of reality. What’s the actual worst thing that could happen if you speak up in the meeting, pitch your big idea, or apply for that job that seems like a bit of a stretch. Chances are, it’s not career obliteration but perhaps a momentary bruise to your ego. Painful? Yes. Recoverable? Definitely. 

Conversely, consider the cost of inaction. Safe choices often mean stagnation. By not taking that risk, you might avoid criticism or failure, but you’re also sidestepping important growth and exciting opportunities. It’s the professional equivalent of never leaving your hometown: comforting, yet limiting. What if the risk you’re shying away from is actually a gateway to a breakthrough opportunity? Imagine missing out on that just because your fear has captured more of your attention than your ambition. 

Now, let’s get practical with three tips to boost your confidence and help you get comfortable with taking a bit of a risk:

1. Become Informed: Before you take a leap, do your homework. Understanding what you’re actually dealing with can significantly reduce the fear factor. Research not only the risks, but also the potential rewards. Talk to mentors and colleagues who’ve made similar moves, who are willing to share their insights. The more you know, the less intimidating the risk will seem. Knowing what’s ahead might not make it less of a wild ride, but at least you’ll know what to expect.
2. Make a Few Small Bets on Yourself: Think of risk-taking as a skill that requires practice. Start with smaller risks to build your confidence. These can be as simple as proposing an idea at a meeting or volunteering for a new task outside of your usual responsibilities. Each small risk prepares you for bigger challenges by giving you a taste of uncertainty without overwhelming stakes. Plus, every outcome is a data point. Successful or not, you’ll gain valuable insights that you can then apply when the stakes are higher and the spotlight on you is more intense. 
3. Cultivate a Growth Mindset: Adopt the belief that your abilities and intelligence can be developed through dedication and hard work. This perspective encourages a love of learning and a resilience that is essential for great accomplishment. When you view challenges as opportunities to grow rather than threats to your competence, taking risks becomes a less daunting proposition. It’s about shifting from a ‘what if I fail?’ mindset to a ‘what will I learn?’ mentality. Remember, the most successful people are often those who have crashed and burned, only to rise from the ashes with new wisdom. 

One of the most crucial takeaways is that risk isn’t a one-size-fits-all concept, but rather deeply personal and varies greatly across different professional landscapes, and we all have our own thresholds. This subjectivity means that what constitutes a significant risk for one person might be a routine decision for another. Recognizing and respecting your own risk tolerance is vital for making informed career decisions that align with your personal and professional goals. 

Confidence is built through experience. Early career professionals often face a steep learning curve, as initial overconfidence can lead to miscalculations. However, as we gain more experience, we develop a better understanding of what real risks look like and how they can be mitigated, leading to more grounded confidence, which is crucial for making strategic decisions that might just propel our careers forward.

Embracing risk is often necessary for significant career progression. However, successful professionals learn to balance risk-taking with strategic thinking. This involves not only assessing the potential upsides and downsides of a risk, but also continuing to trust in our ability to manage and mitigate those risks. 

So, once again, let’s circle back to the big question: Is your fear really keeping you safe, or is it just holding you back? Often, our fear of taking risks is like an overprotective parent. It means well, but it doesn’t always know what’s best for us in the long-run. By understanding the realistic outcomes of risk-taking (and the hidden costs of avoiding risks), you can recalibrate your fear into a helpful advisor. 

Empowering yourself to take calculated risks involves a blend of preparation, practice, and perspective shift. It’s not about being fearless, but about being brave enough to act despite your fears. So, the next time you’re facing a risky decision, give yourself a pep talk, remind yourself of your past victories, no matter how small, and consider the possibilities. Who knows? The biggest risk might just be not taking one at all. 

So, go ahead and take a calculated leap – your career is not a spectator sport. 

And that’s it for this episode of Stop Sabotaging Your Success. Remember to download your Guide to Balancing Risk and Reward at cindyesliger.com/podcast, episode one hundred and twenty-five.

Thank you to our producer, Alex Hochhausen and everyone at Astronomic Audio. Get in touch, I’m on Instagram @cindyesliger and my email address is info@cindyesliger.com.

If you enjoy listening to this podcast, you have to come check out The Confidence Collective. It’s my monthly coaching program where we dig a little deeper into what’s holding you back in your career, and we find the workarounds. We help you overcome the barriers and create the career you want. Join me over at cindyesliger.com/join. I’d love to have you join me in The Confidence Collective. 

Until next week, I’m Cindy Esliger. Thanks for listening.