Just saw this speech by Tynan. Love this guy’s philosophies.
Everyone knows taking risks is essential to live happily & fulfilled. But sometimes it can be very hard to determine if risk is worth the reward. I loved how Tynan broke down his process to evaluate a risk.
Basically you ask yourself 4 questions:
- What is the worst possible scenario?
- What is the best possible scenario?
- Will I regret not doing it?
- Will I regret doing it?
And then determine or guess the probability the best and good enough scenarios. So even if the probability is low but reward is big enough & more importantly regret of not doing it is high, then do it.
I loved how he used this to explain his logic on deciding if buying a school bus was a worthy risk.
Watch the video to really understand this concept & other great concept in it.
Tynan’s Speech: Not Taking Risks is Risky from Tynan on Vimeo.
