“They Don’t Fear Taking Calculated Risks”
“If we only take risks that make us the most comfortable, we’re likely missing out on some great opportunities. Taking calculated risks often mean the difference between living a mediocre life and living an extraordinary life” (117).
Is it really a risk if it feels comfortable? My personal opinion – no. Risks should be taken (logical ones) but they should also scare you just a little bit. One risk I took was applying to a graduate school in NYC not knowing many people in a place I’d only visited a couple of times before. However, applying was a calculated risk and accepting their offer was a decision that will allow me to lead an extraordinary life. Calculated risks make life exciting and can open up opportunities. I hope you enjoy this post and take some risks on your happy and healthy adventure. 🙂 ❤
“Pay attention to the thoughts you have about taking the risk and make sure you’re basing your decision on facts, not just feelings” (120).
This is why Morin says “calculated” risks – because you should take risks that are rational, not completely emotional.
Irrationality points (120-122):
- We incorrectly judge how much control we have over a situation
- We overcompensate when safeguards are in place
- We don’t recognize the difference between skill and chance
- We are influenced by our superstitious beliefs
- We become easily deluded when we see a potentially large payoff
- We grow comfortable with familiarity
- We place a lot of faith in other people’s abilities to perceive risk accurately
- We can be influenced by the media in how we perceive risk
Questions to calculate risk level (123-124):
- What are the potential costs?
- What are the potential benefits?
- How will this help me achieve my goal?
- What are the alternatives?
- How good would it be if the best-case scenario came true?
- What is the worst thing that could happen and how could I reduce the risk it will occur?
- How bad would it be if the worst-case scenario did come true?
- How much will this decision matter in five years?
“Success won’t find you. You have to pursue it” (127).
What’s Helpful (127):
- Being aware of emotional reactions to risk taking
- Identifying types of risks that are particularly challenging
- Recognizing irrational thoughts that influence your decision making
- Educating yourself about the facts
- Spending time calculating each risk before making a decision
- Practicing taking risks and monitoring the results so you can learn from each risk you take
What’s NOT Helpful (127-128):
- Basing your decisions about risk on how you feel
- Avoiding the types of risk that stir up the most fear
- Allowing irrational thoughts to influence your willingness to try something new
- Ignoring the facts or not making an effort to learn more when you lack the information you need to make the best choice
- Reacting impulsively without taking time to weigh the risk
- Refusing to take risks that cause you discomfort
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