Feb '25 • 💬 General
How to take BIG risks (without losing your mind)
“Successful people take risks”
We’ve all heard that phrase, right?
Here’s the thing though:
Not ALL risks are equal.
There are 2 main types:
- Calculated SPECULATIVE risks
- PURE uncalculated risks
Let’s put both into context...
Jenny and Natalie are starting 2 DIFFERENT cupcake businesses! 🧁
Jenny:
- Tests cupcake flavors and packaging to validate her unique concept
- Keeps her 9-5 to keep the capital rolling
- Monitors market trends, competition, and industry challenges
Whilst Natalie:
- Chooses flavours based on excitement
- Quits her job with minimal savings
- Thinks she’ll "make it" by copying a famous bakery in her town
The irony here?
Jenny's "slow" approach will likely lead to FASTER success.
While Natalie's "faster" approach can lead to LONGER setbacks.
So…
The KEY differences between speculative vs. pure risk?
- Research and planning
- Risk assessment
- Consequence awareness
Pro tip: If you ever get stuck in uncertainty, ask yourself:
Which regret would I rather have…
- The regret of evaluating risks and not taking the leap?
- Or the regret of [the worst potential consequence]?
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How to take BIG risks (without losing your mind)
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