Taking A Risk ≠ Gambling - Deepstash

Taking A Risk ≠ Gambling

Going on the offense does not mean that you place your trust in theories that you have not thought through.

Looking at your inner fears will help you to see things more realistically, creatively and move more directly.

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MORE IDEAS FROM Seven Ways To Cure Your Aversion To Risk

You will almost always have to take action before you know all the components your success will depend upon.

Be willing to commit to the path even when you are unsure of all the details. You can adjust your path along the way.

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What prevents people from taking a risk is thinking that you can't start until everything is perfect.

We need the courage to make decisions with imperfect data and move forward as information becomes available.

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When you take the time to consider the downside possibilities, it will be less frightening if they happen. This will give you the confidence to stay the course.

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Embracing risk can be difficult if you focus on the outcome.

Instead, break the decision-making and the action process into smaller steps.

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Start With Small Bets

Risk should preferably be viewed as an experiment. This helps with testing innovation and reducing risk if things don't turn out as intended.

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If you have only considered one possibility, you should probably worry about it.

Find many possibilities for success, then you can be positive that at least some of them might work out.

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RELATED IDEA

Risk and Uncertainty

People often confuse risk with uncertainty. But the terms "risk" and "uncertainty" do not refer to the same thing.

  • Risk is precise and quantifiable.
  • Uncertainty is when the underlying system is not understood.

The more you understand a system, the more able you are to convert uncertainty into risk.

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Risk Analysis

Risk analysis is the process of assessing the likelihood of an adverse event occurring within the corporate, government, or environmental sector.

Risk analysis is the study of the underlying uncertainty of a given course of action and refers to the uncertainty of forecasted cash flow streams, the variance of portfolio or stock returns, the probability of a project's success or failure, and possible future economic states.

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Pioneers

Those with a pioneer working style are big-picture thinkers who want to take advantage of opportunities or create new ones.

They tend to not be detail-minded, and they make quick, spontaneous decisions.

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