Mobile post (please forgive the possible thumb related issues)
Risk and reward are typically tied together.
The standard formula; more risk = more reward. The clear problem with this equation is that there is a specific point where risk outweighs reward, and the chance of achieving a profitable outcome becomes statistically impossible.
This decision point is hard to see, feel, and measure….But we have to try if we want to be more effective at managing risk.
Sometimes we need to test these boundaries in order to know where they are… Fully aware that we might fail, in fact unless we do fail we will never know where that point of decision really is. Now, I’m not a big fan of failure, but if you don’t push yourself or your business to a point where failure is a clear option, you may never reach your (or your businesses) full potential.
Today I was snowboarding off the back side of Snowmass in Colorado and I saw a sign that reminded me of this point in a clear and direct way.
Rarely in business do you get the benefit of a bright red sign that lets you know you are at a major decision point… certainly not with the skull and crossbones for added emphasis.
(BTW, the snow out of the standard ski area was amazing, well worth the risk to lay down some fresh tracks in the waist deep fluffy stuff.)