When do you know it’s time to go all in or play it safe. Most circumstances in life are best played by taking the road most traveled but sometimes a bit of risk is required to achieve more. When I was younger I took plenty of risks without the right information to inform me. So how do we make calculated attempts that reduce the chances of failure?
Some key steps are.
1. Gather information and relevant data on the decision your making and understand the context in which the decision will be made.
2. Define objectives by clearly outlining your goals to understand which ones are crucial for success. Identify key factors, potential benefits and possible drawbacks.
3. Get advice from experts, mentors or individuals with experience.
4. Assess risks and rewards both short and long-term.
5. Monitor, adapt, reflect and learn from what works and doesn’t.
Remember, making calculated risks does not eliminate uncertainty entirely, but it helps you make more informed decisions. This process requires continuous learning and adaptation.
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