Taking Risks

Running a vibrant authority business means making calculated bets—otherwise known as taking risks. But how do you decide which are worth taking?

Jonathan and I discuss how to think about risk and make decisions that are aligned with your risk tolerance and where you want to go:

The difference between “dumb” and smart risks.

The two questions to ask yourself when evaluating any risk.

The role of the lizard brain in how you react to risk and how to move beyond it.

Why having a clear strategy allows you to quickly assess risk and separate real opportunity from distraction.

How to recognize and deal with the emotions risk taking arouses in you.

Quotables

“If you’re not placing some bets that have a big pay-off, then you’re not taking risks or you’re taking dumb risks.”—JS

“We ought to have a few sleepless nights or we’re not working hard enough on taking risks.”—RM

“It’s very common for people to be scared to do something and they interpret that as the thing is risky, but…the impact is a mildly bruised ego and it’s even a private bruising.”—JS

“Sometimes what we’re looking for (when evaluating risk) is an excuse not to do it.”—RM

“You need to stand out from the crowd. You need to. And it feels risky.”—JS

“We choose the vetting (of our partners) based on our perceived risk.”—RM

“It’s important to know what failure and success look like.”—JS

“If you’ve got a strategy it makes it easier to figure out who to say yes to.”—RM