Smart entrepreneurs mitigate risk wherever possible to set up a low risk/high return situation. But mitigating risk is not the same as removing uncertainty.
Uncertainty means you don’t know exactly what will happen, mitigating risk is about protecting yourself from the downside.
But too many people confuse the two; they mistake uncertainty for risk and don’t take action.
The people who change the world don’t know exactly what will happen, but they lean into the uncertainty, certain that whatever happens they will handle it.
When in doubt, think!
Being involved in many businesses personally, and advising many more, I’ve seen a pattern that commonly afflicts entrepreneurs.
But be the author.
In life, if you can’t win, change the rules.
There are two lessons that are relevant to life that have really struck me:
Siri wasn’t created by Apple.
How often are you getting out of the weeds to look at your business? Weekly? Monthly? Quarterly? Yearly?
I was spending time with a friend recently who has built a huge multi-national business. We were talking about life and business, and then we got on to health and he said something very interesting…