Happiness expert shares 1 tip for living a meaningful, successful life: You can ‘create something wonderful’

Your future success and happiness likely depends on your willingness to take calculated risks, says social scientist and Harvard University professor Arthur Brooks.

Fortunately for the naturally risk-averse, you can nurture and develop your ability to take big leaps of faith — after doing the necessary research and soul-searching — Brooks writes in his newest book, “The Happiness Files,” which published on August 12. The trick, according to Brooks, is to think like an entrepreneur and treat your life like a startup.

“If you treat your life the way a great entrepreneur treats an exciting startup enterprise, your life will be happier, more meaningful, and more successful than it otherwise would be,” writes Brooks, who teaches courses on the subject of happiness at Harvard.

Starting a new business is inherently risky, and many end up failing. But the courage and confidence you need to launch a new venture can also result in financial reward, greater control in your career and overall fulfillment if it’s successful, Brooks notes.

The same logic applies outside of entrepreneurship, he writes: People must be “willing to take and manage appropriate risks in an effort to build a life of outsized rewards.”

Brooks recommends working to imagine all potential outcomes of your risky decision, both positive and negative. You might need to conduct some research, like when a prospective entrepreneur researches markets and consumer trends, and weigh the risk against the reward. If the possible outcomes seem worth the risk, then your thought exercise could help you ease your concerns.

“In some cases, the odds of failure are so high and the consequences so dire that the act is reckless, writes Brooks, adding: “If it sounds simultaneously possible and terrifying, you’ll know you’ve found the right thing.”

Switching jobs, or even careers, can be scary, but it could also help get you out of a rut and lead to greater success and fulfillment down the road. Taking out a mortgage to buy a home is a risk, but it can become a valuable asset as long as you budget appropriately. Committing to a romantic relationship comes with the inherent risk of potential heartbreak if things don’t work out, but doing so can also lead to a lifetime of meaningful companionship.

The biggest factor that typically prevents us from taking these types of risks is “the fear of future regret,” according to Brooks. “Humans have astonishing mental time-travel abilities,” he writes. “We are able to imagine ourselves in a future state, feeling chagrin for a decision we’re making right now — which in turn affects that decision.”

Those fears of regret have been shown to inspire “risk avoidance” that often prevents people from taking potentially beneficial risks, research shows.

If you’re someone who struggles to psyche yourself up to take more risks, some experts recommend starting out with a few “micro-risks” per day to build your confidence. They can even be something as simple as ignoring your awkwardness to make small talk with someone you just met, workplace performance coach Henna Pryor told CNBC Make It in May 2024.

Just the act of carefully considering a risky decision before ultimately taking the jump can increase your happiness and confidence, Brooks writes: You’ll bask in the satisfaction of tackling a new challenge, whether it ultimately succeeds or not.

“If you want to raise your happiness by taking a risk, you need to do it right, and not just by acting on impulse,” writes Brooks, adding: “Making a plan allows you to savor the person you want to become — a person who does a hard thing of her own volition, precisely because it is hard.”