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A matter of perspective
Optionality can be a matter of perspective.
Preserving optionality means changing our attitudes as our circumstances, but also learning to spot opportunities (and to make them).
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Preserving optionality
Preserving optionality means avoiding limiting choices or dependencies. It means staying open to opportunities and always having a backup plan.
The more options we have, the better suited we are to deal with unpredictability and uncertainty.
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Having options
We are faced with options all the time, but life-altering ones often come up during times of great change. These options are the ones we have the hardest time capitalizing on.
If we’ve specialized too much, change is a threat, not an opportunity. Thus, if we aren’t certain where the opportunit...
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The tyranny of small decisions
It happens when we make small, rational decisions that end up removing options over time.
Small decisions can lead to bad outcomes. At some point, alternatives disappear, thus we lose our optionality.
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Navigating difficult times
When times are hard is when many investors make their fortunes and when entrepreneurs innovate. They have to see the opportunity in chaos.
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Strength vs. optionality
This is also known as the coach’s dilemma.
Over-specializing in one area is highly limiting, especially if it requires extensive upkeep. Like a football player, we can retain optionality by avoiding overtly damaging risks and ensuring we stay in the game for as long as possible—whatever that g...
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Change in Perspective
People who are into new kinds of opportunities are more engaged and dedicated to their work, leading to a better rate of success.
New and unexplored opportunities can be discovered by changing our perspective.
Adaptability in a changing world
In our rapidly changing world, adaptability is a must-have characteristic.
Organizations want team members who can take on new responsibilities and gain new skills as needed. You should not only be able to spot this quality so you can hire the right people, but also build it so that you...
The allure of optionality
“Maximizing optionality” - the state of enjoying possibilities without being on the hook to do anything - is a key reason young people give when going for big school or employer.
- working at a consulting firm creates optionality because of the broad exposures ...
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