The 3 Steps and 6 Rules You Need To Use For Increasing Your Rewards
Yes, you read that right, it’s not tautology. There are opportunities you have to take action to IDENTIFY and there are opportunities you ATTRACT by means of your reputation, positioning or activities you undertake that are not directly targeting the prospect that comes to you. How juicy when opportunities come to you from prospective clients or customers you didn’t expect!
In both cases of IDENTIFICATION and ATTRACTION, the law of physics applies – “For every action, there is an equal or opposite reaction” Newton’s Third Law: Action and Reaction.
The point in this law is that for you to get any result, you must take action. Inaction is action that produces a result as a consequence of time. Opportunities will either come to you or you identify them, simple!
The word ‘opportunity’ comes from the Latin phrase, ob portum veniens which translates to “”coming toward a port” which refers to a favourable wind blowing ships into the harbour. Simply put, think of an opportunity as something a good wind blew towards your way bringing you goodies. It’s up you now to catch that wind and grab the opportunity and the goodies it brings.
One thing is vital, your basic understanding of risk and that is; you are the risk and it is the way you go about managing the risk of you that determines whether you identify or attract opportunities and then your ability to convert the opportunities to rewards you can measure, in major terms, financial profitability, increase in salary, great network of people, wisdom, significant growth in areas of your life or business. Without opportunities these rewards are not possible.
Rewards are the result of taking advantage of opportunities with the right strategies.
Keep this in mind, you are your biggest risk, how you are or the things you do will impact the opportunities you need.
What are some of the rewards people seek? More money, quality relationships, having babies, healthy life, stable family.
If you are a business, you want increased revenue, high profits, better reputation, quality employees, industry awards and much more.
This is the essence of risk management, your own risk management as a person or business. No bad news mongering just practical advice you can use.
Here are the 3 Simple Steps To attract opportunities:
- Learn – Nothing stays the same. To identify and attract opportunities, continuous learning is essential for you to be relevant for opportunities in today’s world of business.
- Adapt – Things will happen that will rock the foundation of your purpose. Change, update and adapt your strategies to continue to identify and attract the opportunities to the rewards you want.
- Resilience – Hold the line in crisis. Resilience is a thing of the mind not systems based. When challenges or crisis happens, your ability to initiate your contingency plan and emotional intelligence will enable you identify and attract opportunities when others cave in to fear or use ‘safety nets’.
Whether it is more opportunities or high value but fewer opportunities, we need them! Why? It’s that thing called inflation. There are some basic rules you need to follow to identify and attract opportunities.
Let’s see this through the eyes of a gold miner.
6 Rules to follow to identify and attract opportunities:
Rule 1: Know the Risk – Know that the risk is you, person, organisation or business. In this case the gold miner is the risk with the purpose to find golden opportunities and a lot of it if they can.
Rule 2: Embark on Exploration – When you know that the purpose is to find gold, that is opportunities, you need to carry out analysis or study to find the opportunities or position yourself in such a way that opportunities find you. It should be a conscious effort on your part. Your exploratory activities are the things you do to either identify or attract opportunities.
Rule 3: Examine your Internal Elements – Do you have the capability and capacity to do the work of converting your opportunities when you either identify or attract them? Industry or sector knowledge, skills, communication abilities, physical wellbeing, mental ability, emotional intelligence and ability, social awareness and so on dependent on what your purpose is. Basically, this is your mindset and operational capability in readiness to do the work.
Rule 4: Be aware of the External Elements – Gold miners experience a number of factors before they get the gold out of the ground and sell it. Weather conditions, legislation, regulation, commodity market drivers and many more. Be aware of the external elements that affects your ability to capitalise your opportunities.
Rule 5: Start Exploitation Immediately – Don’t wait when your opportunities manifest themselves. Time and consequence happen that could take your opportunities away if you don’t act fast. Like goldminers or explorers, do the heavy digging to break down the ground or hard rocks of opportunities, even if it entails diving underwater for it.
Rule 6: Measure Your Rewards – You probably have not heard the term Benefits Realisation Management. This is about measuring and managing the rewards you attain from your opportunities. Measure the return on the investment you made to attain your rewards. By what percentage on top of your investment did you attain? This result determines many things such as how much you reinvest for future growth, how much you spend on Capital Expenditure (CapEx) and Operational Expenditure (OpEx). Don’t forget your party money. You should celebrate your wins no matter how little.
I love this example of gold mining and it is a perfect example to use for anyone serious about identifying or attracting opportunities. We are all in search of some kind of ‘gold’ in our lives personal or professional, we just have to follow the rules to achieve it.
Are you sitting on gold or a goldmine? Everyone is sitting on some type of gold or a goldmine. You must position yourself strategically identify and attract those juicy opportunities following the 3 steps and 6 rules I just showed you.
If you would like help identifying and attracting opportunities, and converting them to rewards in your business, we have a service for that. To find out about this check out the Risk Optimisation service page then, please contact me directly or use the contact options here.
Thank you for taking the time to read this article.
Please check out other articles for vital resources.