Dealing with Risks

If there is one area in our lives that many people struggle with, it is that of taking a risk. The reason is that risk creates fear, and fear prompts inaction.

Here is a simple and practical system to deal with risks.

Look at any situation where a decision needs to be made. It makes no difference what the decision is—be it taking a vacation, purchasing something, or taking some action.

Ask yourself three questions:

1. As a result of taking this action, what is the BEST thing that can happen?

Then flip the coin:
2. As a result of taking this action, what is the WORST thing that can happen?

Then use some moderation by asking,
3. What is the most likely thing that will happen?

In the great majority of cases, the worst scenario doesn’t happen. Since the best also may not happen, consider somewhere down the middle.

Then reflect: If the most likely outcome can get you closer to what you want–and if you are willing to deal with the worst thing for a chance of getting the best thing– go for it.

However,  if you cannot deal with the worst possible scenario, then it doesn’t matter about the best possible scenario. Close the issue and move on.