Ep 71: Philip Morgan Explains Why Our Relationship to Risks Matters a Whole Lot When Picking Our Business Strategy and Specialization Area

How much risk are you willing to take?

For some, the idea of taking a giant leap of faith is exhilarating. For others, the idea instantly makes them queasy. Where you land on that continuum will change depending on the greater circumstances of your life, too.

Your relationship to risk affects your business and the choices you’ll make. 

When it comes to finding your niche, your comfort with uncertainty and risk will have a major impact in the direction you choose to go. Or the directions you can even imagine going.

All businesses come with some level of risk and uncertainty. So how do you manage your relationship to risk in your business so that you don’t get mired in indecision or leap headfirst into an unproven venture?

To talk about risk, I’m catching up with Philip Morgan.

Philip Morgan is an expert on experts. He works with independent consultants to help them hone their area of specialization, cultivate their expertise, and monetize their IP. His book, The Positioning Manual for Indie Consultants has helped thousands transform their businesses.

We talk about building authority and expertise, how to find your niche and positioning, what it takes to build an expert business and some self-psychoanalysis in the process.

Tune into this episode to hear:

• Shifting your mindset to what you’re gaining instead of what you’re losing when you’re trying something new
• The relationship between risk tolerance and how you choose to specialize
• Imposter syndrome and finding or making space in your niche
• Two challenges Philip uses to help clients build comfort with their expertise

Learn more about Philip: 

• Philip Morgan Consulting
• Twitter: @Philip_Morgan
• The Self-Made Expert podcast
• The Positioning Manual for Indie Consultants: Find the Strategic Beachhead that Will Amplify Your Visibility, Momentum, Impact and Profit
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Learn more about Pia: 

• No BS Agency Owners Free Facebook Group
• The Show Your Business Who's Boss Crash Course 
• Start reading the first chapter of my book
• Piasilva.com

Resources:

• The Prosperous Coach: Increase Income and Impact for You and Your Clients, Rich Litvin and Steve Chandler (Author)
• Write Useful Books: A modern approach to designing and refining recommendable nonfiction, Rob Fitzpatrick