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Business is a math problem, an ever-changing equation of risk versus reward.
When the reward is greater than the risk, we act.
Reward > Risk
We make this calculation on everything, from directing funds into new marketing channels to determining that you and your team should spend time and energy on a new product. This is how we all started.
Every decision is based on the current information available to us. And it’s safe to say we wouldn’t decide to take any action if we thought we couldn’t execute successfully.
We take action once we’ve decided the rewards outweigh the risk. Then we act and execute.
What if there was no risk? This would completely change the equation because the reward would always be greater than the risk.
Reward > Zero Risk
Sure, Jonny, but there is ALWAYS a risk.
We all perceive risk differently, so I want to urge you to think differently.
The risk is in your head.
Let’s go back to the financial crisis of 2008, and what we learned.
We learned that some businesses — banks namely — are considered too big to fail. Politics (and economics) aside, the government bailed out the banks and kept them afloat.
At the time, this fascinated and frustrated me.
If this is what happens to the biggest businesses in the world, what happens to the smallest ones, us, the independent entrepreneurs?
How do we react when a crisis strikes our businesses, markets, or lives? Will some external entity come to our aid?
We instinctually pivot, iterate, and hustle until we find or create a solution.
It’s a defining factor of the independent — we can assess, decide, and act faster than anyone else.
We’re too small to fail.
Stop for a moment and think of the products, services, and ideas that have streamed from your consciousness.
Some became reality, some didn’t. Some worked, some didn’t.
What stayed constant was none of them were your final product, service, or idea.
No matter what happens today, we take action tomorrow.
An obstacle comes into view tomorrow, and we go over, under, around or through it. But we don’t stop.
Stopping would be a failure, and failure is not an option.
Here’s what to do with this:
Quit wondering what will happen.
Remove risk from your equation.
Doing so will enable you to move faster than your competition.
Your job is to become too small to fail. Nourish your independence. Continually fight for and be proud of being small.
There is no failure, only movement.
As you remove the notion of risk, you force yourself into action.
The only obstacle capable of destroying you is inaction.