Rewarding risk

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Seth’s post today on the tradeoff between risk and reward is spot on.

I’m especially in agreement when it comes to that first jump (from point A to point B) – that’s the risk you should be focusing on.

The way I see it, by committing to that first jump – developing a plan, managing the plan, analyzing the plan, resetting the plan, etc. – then understanding it’s reward, the second jump (point B to point C) becomes less risky.

Yeah, there will be new minor risks along the path to point C but since you’ve already gone through this process and can reference previous actions and effects – see plan, above – the risk is reduced, while the reward remains the same.

And taking that first step is rewarding in so many different ways.

  • You’ll become more efficient.
  • You’ll understand your internal operations better.
  • You’ll get to know your staff and their strengths intimately.
  • You’ll even get to know your industry in finite detail (including customers, competitors, vendors, etc.).

As Seth closes:

Riskless is hardly worth your effort.

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