My Worst Investment Ever Podcast Michele Wucker – Don’t Ignore the Warning Signs
BIO: Strategist, speaker, and author Michele Wucker coined the term “gray rhino” as a call to take a fresh look at how we respond to obvious, probable, impactful risks.
STORY: Michele hated being a pre-med and psychology student, but she kept at it because she believed it was the safest path for her.
LEARNING: Don’t ignore the signs telling you that something is wrong. Build your self-awareness.
“When you’re tired, and you’re just not feeling like yourself, that’s a really great signal that something is wrong.”
Michele Wucker
Guest profile
Strategist, speaker, and author Michele Wucker coined the term “gray rhino” as a call to take a fresh look at how we respond to obvious, probable, impactful risks. The metaphor and framework have shaped business and investment strategies and made headlines in more than 35 languages and 70 countries. Michele founded the Chicago-based advisory firm Gray Rhino & Company and is a former media and think tank executive. Her four books include the influential global bestseller The Gray Rhino and the sequel, You Are What You Risk.
Worst investment ever
Michele decided to join college as a pre-med, psychology, and French major. She believed this was the best choice and what was expected of her. But Michele hated the psychology and chemistry classes. However, Michele had this idea in her head that she’d be a psychiatrist, so she kept pushing.
It took Michele way too long to realize that she was investing her time, energy, and intellect into something that wouldn’t work out. It took many more experiences of investing her time, energy, and emotions into other people’s expectations or into what Michele thought was the safest and least risky path for her to chase her true dreams. Eventually, she quit med school and became a Policy Studies major.
Lessons learned
- Understand how to recognize the signs warning you that something is wrong.
- Be aware of what you give to the world and what sustains you.
- Always analyze risks, possible responses, what makes you comfortable or not and what gives you an increased sense of control.
Andrew’s takeaways
- Awareness allows you to identify what isn’t for you quickly.
- Don’t wait to find the thing you like because that may or may not be in front of you. But if you find what you don’t like, use that as an impetus to move you to the next thing.
Actionable advice
Identify the stresses and what triggers them. Then identify what makes you feel better or more comfortable.
Michele’s recommendations
Michele recommends her blog, The Horn, which talks about global issues and how to respond to them. She also recommends the Gray Rhino blog, which includes her thoughts about behavioral responses to risk.
No.1 goal for the next 12 months
Michele’s number one goal for the next 12 months is to rearrange her life so she can be based more in Chicago. This will help her reduce the number of plane trips she makes and, as a result, reduce her carbon footprint and the toll on her health.
Parting words
“Your worst mistakes will get you to where you want to go. So don’t beat yourself up for them. But while you’re in them, learn that lesson faster so you can get to where you want to go faster.”
Michele Wucker
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Connect with Michele Wucker
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr.Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- The Become a Better Investor Community
- How to Start Building Your Wealth Investing in the Stock Market
- Finance Made Ridiculously Simple
- FVMR Investing: Quantamental Investing Across the World
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points
- Achieve Your Goals