Isn’t everything binary? Maybe. But for now, let’s just consider risk.
Risk is simply uncertainty of an outcome. It can be thought of as a choice between two options. Either you take the risk, or you don’t.
A helpful way to consider whether to take the risk is to ask:
A. What is the worst case scenario if it doesn’t go well? In a sense you are asking – What is the cost of failure?
Then, ask yourself:
B. What is the cost of not taking the risk. This is an opportunity cost. In other words – What will you give up if you don’t take the risk, assuming it would succeed?
They say that at the end of your life you will regret the things you didn’t do more than the things you did. Take a risk, and if you fail you will be disappointed. Refuse to take the risk, and you will be left with regret. I’d rather be disappointed than regretful. How about you?