Juggling the pros and cons of taking risks: two professional jugglers apply their skills to making the right decisions.

To succeed in business, you have to take risks. You need to step out of the norm and try something new or unusual to stand out and make your boss or your customers take notice. At the same time, however, you don't want to do something that is "risky" or unwise.

In other words, you need to balance the benefits of taking the risk (the possibility of success) with the negative aspects of any risk (the potential for failure).

Think of risk as a juggling routine. Every time a juggler throws something in the air, he or she might not catch it. But in order to wow their audiences, jugglers must add new and exciting items to their repertoire. So, while not juggling chainsaws and flaming torches would certainly be safer, jugglers have to take the risk and incorporate such items in order to be different and rise to the top of their profession. The same applies to you.

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To minimize the negatives inherent in any risk, consider:

1. Prepare for the risk.

If you're going to try something new, do your homework and make sure your skills are up to par. Research the situation, the client, the market and everything else that might help you prepare.

Preparation could also involve reading books, taking classes, role-playing to hone your skills or hiring a consultant. Do whatever you must to become an expert in the risk's topic. That way, when you throw that ball in the air, you're prepared to catch it.

Also, have a few contingency plans. What negatives could result from the risk? If you've ever watched a good juggling routine, you'll notice that when the jugglers drop something, they always have something to say that makes the audience laugh and takes the attention away from the dropped item.

2. Take action.

While preparation is certainly important, be careful not to get stuck in "prep mode." Realize that if you prepare too long or wait until everything seems perfect, then chances diminish that you're ever going to take action.

When jugglers perform a new routine in front of an audience for the first time, they never feel as if they've prepared enough. They're never going to be totally comfortable performing something on stage until after they've done it a few dozen times.

Fortunately, you learn a lot from "performing early." You discover which elements are working and which aren't, and then you can decide what you really need to do minimize the risk.

If you feel yourself getting stuck in "prep mode," stop, assess the situation, and tell yourself that it's virtually impossible to get in a total comfort zone with the new endeavor until you take the plunge.

When jugglers have a routine they're nervous about, they often "sandwich" the new material in between two other routines that they know are strong. A business can do something similar. When you take action on your risk, piggyback the new item on something your company does well. Keep your company's strengths in the forefront so that if something doesn't go well with the new initiative, you can always shift the focus back to what you know works.

3. Constantly analyze your progress.

Both during and after your new venture, you need to analyze the situation. What worked? What didn't work? What met your expectations? What surprised you? Knowing what you know now, what could you have done differently? What feedback have outsiders given? Often, those outside the risk zone see it very differently.

If jugglers are dropping things on stage, they know they have a problem (and so does everyone else!). What does a problem look like in your risk scenario? Any risk requires constant analytical process during and after the event. You have to be conscious of every move, and track your progress the entire time.

Throw Your Chainsaw!

The most important thing about risk is simply being willing to take it on. Think about it: if everyone were to operate in their safety zone, there wouldn't be amazing advances and accomplishments in the world. Additionally, doing things that are creative and different makes it all a lot more interesting than just playing it safe. And the potential reward is a lot higher, too. Taking the easy way is a recipe for mediocrity and boredom.

Those who are willing to try something new and difficult and what others deem "crazy" are the ones who make a real difference in the world. So, be bold.

JON WEE and OWEN MORSE are partners in The Passing Zone (www.passingzone.com), an organization that helps corporations improve teamwork, time management and work-life balance. Wee and Morse have been awarded five Guinness Book World Records and the gold medal at the International Jugglers Association Team Competition.