Why High Achievers Almost Always Plan Contingencies
— Aiming for the Best, Preparing for the Worst
Calculated Risk-Taking with Strategic Foresight
What the expert says:
"We humans are the victims of an asymmetry in the perception of random events. We attribute our successes to our skills, and our failures to external events outside our control, namely to randomness."
— Nassim Nicholas Taleb, The Black Swan
Top performers recognize that randomness plays a significant role in both success and failure.
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What that means in practice:
⇥ Identify risks, but don’t ignore randomness.
⇥ Plan for contingencies, not just for success.
⇥ Balance bold action with thoughtful foresight.
⇥ Accept randomness, but learn from each result.
⇥ Focus on mitigating losses in case of failure.
⇥ Experiment often but limit high-stake risks.
Balance bold moves with thoughtful risk management.
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Mini-mission:
1. Review a recent success and analyse external factors.
2. Identify where randomness or luck played a role.
3. Plan how to reduce risk in future similar actions.
Manage risk, expect the unexpected!
Why?
↳ Understanding randomness helps refine risk management.
↳ Focusing on controllable outcomes improves decision-making.
↳ Calculated risks push boundaries while minimizing failure.
↳ Balancing boldness and foresight ensures sustainable success.
Be mindful of randomness while maintaining a calculated approach to risk. Ensure you push boundaries without acting recklessly.
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