Failure

What’s the Worst That Could Happen?

It’s rarely as dire as we imagine

A hand holding a red pill, and a hand holding a blue pill.
(Image: canva.com)

When I was approaching sixteen, it was still important, and even “cool,” to get your driver’s license as soon as possible. In my case, it was extra important, since we were about to move, and I’d need to drive to continue going to the same high school.

No pressure.

Looking back, I’m surprised by the approach I took. It’s an approach that has served me well throughout life.

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The Cost of Failure

Flying Man Vincent de Groof Falling Down (Image: Old Book Illustrations)

We often judge opportunities based on the potential benefit or “up side” as it’s often called. If we do ‘X’ we get ‘Y’. Typically the risk we consider is simply not getting ‘Y’ if we fail to accomplish ‘X’.

I’ve come to rely on an additional approach to judging both opportunity and risk. I call it the “cost of failure”.

It’s quick, easy, and now one of my most important evaluation tools.

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