Three stages of risk tolerance

I used to think playing it safe in my consulting business was smart – until I realized I was actually putting myself at greater risk by not taking any risks at all. The problem is that most of us consultants never learned how to think about risk strategically, so we either avoid it completely (which kills growth) or take reckless gambles that could destroy everything we've built. This creates a paralyzing cycle where we're too scared to make the moves that could transform our business, while simultaneously putting our survival at stake by staying stagnant. In this episode, Ahmad and I break down our three-stage framework for taking calculated risks at every phase of your consulting business – from the foundational stage where survival is key, to the growth stage where strategic bets can 10x your revenue, to the stability stage where protection becomes priority.

Show notes:

• Why consultants are entrepreneurs but don't think like them – and how this mindset gap is costing you opportunities

• The "survival stage" trap – why trying to build the perfect business too early will kill your momentum (and what to focus on instead)

• Three distinct business stages that require completely different risk strategies – and how to identify which stage you're actually in

• The "don't bet the farm" rule – how to take growth-stage risks without jeopardizing your core business foundation

• Why your first scaling offer probably won't work – and why that's actually a good thing if you're managing risk correctly

• The counterintuitive shift from growth to protection – when successful consultants stop taking big risks and start defending their position

• How to build risk tolerance – the uncomfortable truth about why there's no shortcut to becoming comfortable with uncertainty

• The altitude analogy for risk – why you need to adjust at each level before ascending to bigger bets