The Business of Authority
Changing Your Perception of Risk
Nov 27, 2023
A discussion on changing perceptions of risk in business, emphasizing the importance of confronting perceived risks for growth. Topics include strategic risk-taking in business, overcoming fear, navigating niche markets and subscription services risks, and balancing client relationships and uncertainty. The conversation explores how fear impacts decision-making and the need to align personal values with business contexts.
40:45
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Quick takeaways
- Business strategies involve uncertainty, not always recognized as risk.
- Calculating risks involves evaluating potential losses and benefits for informed decisions.
Deep dives
Redefining Risk Perception in Business
Risk is not always consciously acknowledged by individuals when considering new business strategies or changes. Uncertainty often triggers resistance, mistakenly interpreted as risk. Engineers, especially, tend to struggle with uncertain, non-life-threatening decisions like refining expertise packaging. The key lies in evaluating uncertainty reduction, potential losses, and impacts against the potential benefits of progressing in business. Making calculated, manageable risks can lead to growth without endangering the business.
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