The Key to Making Risky Decisions | Scott H Young - Deepstash

Bite-sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

created 3 ideas

SCOTTHYOUNG

The Key to Making Risky Decisions | Scott H Young

The Key to Making Risky Decisions | Scott H Young

scotthyoung.com

STASHED IN:

1.5K reads

Risky Business

When starting a project that requires time, energy and resources, the cost-benefit ratio is a good rule for deciding if the plunge is worth it.

One has to think about the risk in terms of probability, while also keeping in mind what is at stake: Will the effort, time, money and res...

Taking risks is a way towards potential growth, even if it is not according to the original plan.

When entrepreneurs fail at their startup, a large chunk of them still benefit by:

  • New connections and friendships
  • New job opportunities
  • A pivot ...

One needs to take into consideration that any risky decision has the probability of failure, keeping in mind the potential benefits of not reaching the goal.

The ideal decision model should:

  1. Calculate or research about the baseline likelihood of success.
  2. Take...

29 Reactions

Comment

It's time to

READ

LIKE

A PRO!

Jump-start your

reading habits

, gather your

knowledge

,

remember what you read

and stay ahead of the crowd!

Takes just 5 minutes a day.


TRY THE DEEPSTASH APP

+2M Installs

4.7 App Score