Future belongs to those willing to take uncalculated risks

In these dynamic times, mid-Missouri has much at stake in the decisions being made by our political, university and business leaders. We haven’t lacked bold plans, passionate debate or the ability to compromise. But it has made me wonder: Is the vision many are working toward across Missouri achievable? Do rank-and-file Missourians have an appetite for a future within the new economy, are they dependent on knowledge-based businesses, and do they have a willingness to take on the risk that it takes to get there?

Being from a long line of Missourians, I have always admired our savvy skepticism. You don’t fool too many of us, as proven in our ability to select presidents, respond to crises, or reflect national trends. Although our wisdom may be great, another part of our legacy is one of split opinions. Little did we know the “Missouri Compromise” in 1820 would foreshadow a history of often-bitter differences of opinion, even among kin. Despite the disagreements, Missouri has fared well for more than two centuries and today finds itself with amazingly efficient and strong institutions, businesses, universities and economies.

I suspect the future will continue to reward the kind of self-made survivors we’ve seen in the past, but I’m also convinced the future will put a premium on old traits we’ll need to rediscover. Missourians have become used to taking calculated risks, the kind you can measure, quantify, hedge against and bet on. But the future may again belong to those willing to take the uncalculated risks, the uncertainty that comes with the influence of new people, ideas and ways of doing things. My interpretation of the dynamic times around us suggests concern. Where’s the forgotten legacy of the Missouri frontier?

The university, especially a public land-grant university like the University of Missouri, was founded to explore the unknown. It was and is a special place to prepare our young people to meet the future, ask the unthinkable questions and probe new ideas. Although perhaps not the only place where such creativity happens, the American university certainly has proven to be the most promising place for such innovation.

Increasingly, however, we are faced with the risk of allowing such a place to happen. There are risks in exploring itself; are we unknowingly endangering ourselves or our environment? There are financial risks; who pays, and how much growth opportunity can we afford? There are risks in acknowledging leadership; who has the best vision, and whom can we trust? There are risks in reputation; can we stomach losing?

Facing all of these risks would be much easier with a slightly different attitude. We need to spend more time acknowledging and accepting risk rather than denying it exists. Beyond openly accepting the risk we’re willing to take, we also need to be accountable if we fail. Most leaders have only solidified our trust in them during trying times that reveal their courage.

There is at least one other trait that we may need to rediscover — an appropriate level of confidence. When facing the incalculable risks, the risks of the unknown, it’s dangerous to be overconfident. We should seek ideas, projects and markets where we have some experience or track record. It only makes sense to play in a field we know something about; it’s our competitive advantage. Missouri is fortunate to have many fields of study and business where our experience runs deep, including a wide array of life sciences, engineering and financial services.

The biggest risk of all, however, is what happens with a total lack of confidence. Such insecurity comes masked in many ways, including stubbornness, intolerance, fear, anxiety, suspicion and a lack of trust. None of these are valuable traits, especially when combined with our Missouri skepticism in the first place. We find ourselves working to keep things the way they are for fear that change will only make it worse.

What’s the ultimate risk for Missouri? The risk is that we allow ourselves to slip among the ranks of states in the new economy. What’s the risk that keeps a lid on our success? That is the risk of doing nothing at all.