Student of Life
What is risk? Risk = Uncertainty. If the outcome of an activity is unknown, it is risky. But, that risk isn’t necessarily just associated with a bad outcome. The outcome could be that the project produces a positive return or a negative return. The stock price could go up, stay the same, or go down. …
Continue reading “Chances Are Your Not Viewing Risk Correctly”
Nothing happens outside of the box. The action is on the edge.
There are two forces changing our economy, entrepreneurship, and everything else: 1. Technology – it seems that the internet is eating everything. There isn’t an industry that isn’t affected by it. It’s not the internet of things that is coming. It’s the internet of everything. And just when we get used to the internet running …
People trump strategy. Having the right plan isn’t enough. You also have to get everybody involved behind the plan, and have them individually in the right positions.
What is technology? Knowledge, techniques, methods, and processes that help us complete an objective. A pencil is an example of technology. So are smartphones, light bulbs, and clothes. Yes, clothes. Money is also technology. What is money? Something that has three functions. Money operates as a medium of exchange so that we all accept it …
The Internet of Information has been revolutionizing our world since the early 90s. The Internet of Value is starting to take hold. Bitcoin is its first major “app.” But just as email did in the Internet of Information, Bitcoin will also have to contend with other technologies. In fact, at this point it isn’t even …
Why haven’t you started the business you want to start? Why aren’t you on the trip you always wanted to take? Why are you not doing what you want to do? If your answer to these questions is money, or time, your not being honest with yourself. And the lies we tell ourselves are the …
Do you need a new car? Do you need to live in a house by yourself? Do you need a vacation? No, no, and no. A job? Maybe not. What do you need? Only what matters. Something you love to do, a plan to make it happen, and focus. Get rid of everything that doesn’t …
Every minute you spend doing one thing is a minute you give up something else. There is an opportunity cost for everything you do. Everybody has 100 great ideas. Good ideas are a dime a dozen. It seems like I get a new one everyday. But, success isn’t about having a great idea. Success is …
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 …