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December 17, 2014

A Test To Help Weigh The Risks

Filed under: Leadership Skills,Motivation,Professional Development — Alec @ 3:42 pm

Every day — in life and business — is a test. And if you like tests as much as I do, you are in luck!

The tests come in many forms, usually: Think, Produce, Value

We have to Produce, but we also must Think and plan some depending on the complexity, value and risk associated with the work to be accomplished.

I am a very big risk taker, but I always want to take into account and estimate the cost or severity of failure. I always want to evaluate the ability to reverse my actions. In other words, it is an easy and inexpensive risk to test a new flavor of tea, but very expensive and hard to reverse risk to buy a new convertible on a whim.

It is essential to understand the impact on the company, boss, employees and goals when considering high value and high severity actions. Corrections are easy on a wrong flavored cup of tea, but not so easy on a $250,000 machine that proves wrong.

And finally, the real score keeper is the customer. How will they accept and evaluate the risks you take and their inevitable success or failure?

In your Plan for 2015 you have already thought about what next year should look like. Now you need to analyze the details and Think:

1. What do you really want to or need to accomplish?
2. What risks are you willing to take? What is the Value of these risks?

Sometimes it takes a little nudge to stop, wake up, and think about your 5-year plan and make sure your 1-year plan fits with the bigger picture.

So, do a little mental reboot, nudge your risk-taking dream machine, and don’t be afraid to think about what you REALLY want.

Need help with your reboot? Call us! We love dreaming about what your company could be. We will help you pass your next big test.

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