Embrace Risk - Deepstash
Embrace Risk

Embrace Risk

Millionaires know that risk is a part of the success equation and learn to manage it effectively.

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karbatos

A deep thinker and a big enthusiast of technology.

Adopt these 8 habits of the ultra-successful and cultivate your millionaire mindset. After all, success is a mindset that can be nurtured.

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Risk and uncertainty

  • Risk is when the factors that determine success or failure are out of your control, but the odds of success are known.
  • Uncertainty is when the factors that determine success or failure are not out of your control but are simply unknown. It is play...

Managing Risk Like NASA

Managing Risk Like NASA

NASA is routinely dealing with problems that are as complex as they can get. Apart from having a process about measuring creativity, or a detailed checklist to take stock of every minute detail, they also have a Risk Matrix, a powerful tool that helps to identify and manage risk.

...

Mitigating Risk

Mitigating Risk

Once a Risk Score is calculated based on the Risk Matrix, NASA recommends the following:

  • Lowest Risk: Put the risk on the watchlist and re-assess on a regular basis.
  • Low Risk: Perform further research and re-evaluate risk trying to better un...

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