low risk , high reward

Founders often default to pursuing low risk, low reward strategies, primarily influenced by the organizational culture, especially in areas like New York. A practical approach to shift this mindset involves categorizing proposed projects into four risk-reward buckets during team discussions. This simple exercise typically reveals that the majority of initiatives fall into the low risk, low reward quadrant, emphasizing the need for a strategic pivot towards high risk, high reward options, particularly when facing challenges. Encouraging teams to take more calculated risks can rejuvenate innovation and foster a culture of higher potential outcomes, which is often better understood by founders compared to other stakeholders, like board members, who may require additional context to embrace riskier strategies.