It isn’t possible for a business owner to make meaningful progress, without being prepared to risk failure. This is because by trying to isolate ourselves from potential failure, we also isolate ourselves from success.
Upside and downside
If you don’t ask for that date, don’t apply for that job and don’t make that business investment, you avoid the potential downside of heartbreak, rejection or financial loss. However, you also guarantee you will fail to benefit from the upside – the amazing date you could have had, the wonderful new career that never happened and the business results you never achieved.
No downside. No upside. No progress.
Research, evaluate then decide
Don’t dismiss an opportunity, simply because there is the potential to fail. If you do, you will miss 100% of the legitimate opportunities. As Thomas Edison famously said: Opportunity is missed by most people because it is dressed in overalls and looks like work.
- Do the research.
- Evaluate the potential.
- Then make the decision.
Do you have any tips or suggestions, which help you make better decisions? If you do, share your thoughts with a comment.
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Spot on Jim.
The only time you see opportunities with no downside, is when it’s a scam. Scammers look too good to be true because they are.
Great article. Thanks.
Good point, Alan. Thanks for sharing!
A great post. I agree, don’t let fear of failure stop you from responding to an opportunity! As you say research, evaluate and decide.
Thanks for sharing I look forward to reading more of your blogs
Jules
Thanks, Jules.
Maybe it’s that people are dumber today or maybe it’s that the internet lets us see more dumb people, but all I see are people falling for scammers offering too good to be true deals.
There are scammers on facebook with a hundred thousand followers and their stuff is so easy to see through.
People… If it seems to good to be true… it is!!!
Thanks Jim.
“If it seems to good to be true… it is!!!”
Wise words, Greg.
I love Edison’s quote Jim. Too many people look for excuses to not try something. That is why so many people are in trouble financially.
Hi Neil. Yes, Edison was a very, very smart man indeed.
On the topic of scams, you would think that by now we are all wise to scams. Some people actually miss a good opportunity purely because they are so focused on the scam (downside) to see the actual potential in an opportunity.