No risk, no reward.

No Risk, No Reward. This statement has never been more true than right now. 

Every decision we make comes with an element of risk -- especially if you own a business in these times of uncertainty. Unfortunately, some business owners are likely to migrate to their "play it safe" zones, when they should be doing just the opposite.

At a time when it seems logical to curtail spending, some business owners will recognize the window of opportunity to gain market share. Are you one of them?

I had the privilege a few years back to meet a gentleman named Bob Harrison; "Dr. Increase" he's called. When Bob was a young businessman, still what some would have called inexperienced, he was able to see and seize opportunity when it seemed, at best, elusive.  Bob was hired as the General Manager of a lackluster performing auto dealership. The owner figured he had little to lose; none of the dealers for that manufacturer were doing well at that time. Nevertheless, young Bob realized that there were people buying cars; he simply had to lure them to his dealership to buy.  His first actions involved spending money. He risked a good portion of the remaining cash in the bank to do three things: 

1. Have the grass cut and the grounds' landscaping freshened.
2. Get all the windows washed and the showroom spic and span. 
3. Have every car on the lot washed and detailed.

The staff thought Bob had lost his mind; they could see the specter of a "going-out-of-business" sale looming. Yet, here this kid was: spending money. Didn't he know that he'd have to make payroll in two weeks?! What exactly was Bob thinking?

• Look like you are staying in business. People will believe what they see evidence of. Buyers are more confident, if you are.
• People spending many thousands of dollars on a new car want it to look new. Clean cars get test drives. Test drives drive sales. 
• People at your place of business draw MORE people to your business. A busy showroom means something's going on over there -- "Maybe we shouldn't miss it."

Consider this:

Should you plan to make a real impact in 2010...

...or just play it safe?

• Have you looked at creative ways to boost your top line, i.e.: revenues? Gains cannot come from cost cutting, although that is prudent. You can only GROW your business by increasing sales and improving your delivery processes.
• What are you doing to jump start innovation and creativity? Professional sports teams have coaches and trainers because they improve performance and focus. What might a bit of outside expertise do for your business? You might be surprised!

Just as you can't recover what you don't remember, it's tough to make significant gains without taking some risk.  As 2009 draws to a close, decide which better describes you: 

• Rewarded Risk-taker
• Status Quo Safety-seeker

Now, act accordingly. Just remember that "the good moves we don't make can be as consequential as the bad moves we do make -- that playing it safe isn't always playing it smart." Keith H. Hammonds -- from No Risk, No Reward  Fast Company 2007.  Oh, yes. How'd Bob do? His dealership went from almost closing to the third best-performing... in the nation!   Our guest blogger, Sandra Connor, aka thinkVAULTer -- can help to steady the business risk tightrope for you. Let her know when you're ready.