5 Keys To Risk-Taking
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Risk taking are the only way to make progress in life. They're also, by definition, the places in life that can set you back. That's why it's so important to look at risks more clearly. You can begin to leverage the upside of risk in your favor. Changing your jobs, putting your neck out in support of your ideal, or investing in your business. These are bigger risks.
Here are some important things to know about risk:
• The more risks you take the stronger you become. Forests need to burn once in a while so they can grow back stronger. Don't take risks for no reason - but don't get scared away from opportunities!
• Risk arbitrage. Some opportunities scare people off because the risks that go along with them are blown out of proportion. Always ask yourself "what's the worst that can happen?" and see what the true risk is to you.
• Risk is different for everyone. If you have a year's worth of savings it won't be as scary to quit your job as if you barely have enough saved up to pay for next week's rent.
• Risk is easily confused with uncertainty. Remember the biggest opportunities in your life will almost always be the scariest, and therefore will at least feel like the least probable. Don't get scared away and keep in mind the final point:
• We have a negativity bias. Remember that this is something your brain does on default and learn to act into the fear. Don't let your negativity bias blow up a risk to such a hugely unreal level that you miss life-changing opportunities because of it. It's often helpful to ask other people for their perspective to get a better reading of the actual risk. Our negativity bias doesn't often follow us to other people.
What's the worst that could happen? If you can live with that and you see an opportunity for a better life - take the risk! If you need to ask other people to tame your negativity bias then do it. Take account of the risks your taking now and the risks you could be taking?
What's the best risk you ever took? The worst? Do you have any rules for risk taking?
Read more just click > Risk Taking
Here are some important things to know about risk:
• The more risks you take the stronger you become. Forests need to burn once in a while so they can grow back stronger. Don't take risks for no reason - but don't get scared away from opportunities!
• Risk arbitrage. Some opportunities scare people off because the risks that go along with them are blown out of proportion. Always ask yourself "what's the worst that can happen?" and see what the true risk is to you.
• Risk is different for everyone. If you have a year's worth of savings it won't be as scary to quit your job as if you barely have enough saved up to pay for next week's rent.
• Risk is easily confused with uncertainty. Remember the biggest opportunities in your life will almost always be the scariest, and therefore will at least feel like the least probable. Don't get scared away and keep in mind the final point:
• We have a negativity bias. Remember that this is something your brain does on default and learn to act into the fear. Don't let your negativity bias blow up a risk to such a hugely unreal level that you miss life-changing opportunities because of it. It's often helpful to ask other people for their perspective to get a better reading of the actual risk. Our negativity bias doesn't often follow us to other people.
What's the worst that could happen? If you can live with that and you see an opportunity for a better life - take the risk! If you need to ask other people to tame your negativity bias then do it. Take account of the risks your taking now and the risks you could be taking?
What's the best risk you ever took? The worst? Do you have any rules for risk taking?
Read more just click > Risk Taking