Almost 7/10 people I speak with want to quit their jobs.
But, almost no one does.
The primary concern: what if I fail?
Most of us struggle to understand how to manage risk.
A thread 👇👇
But, almost no one does.
The primary concern: what if I fail?
Most of us struggle to understand how to manage risk.
A thread 👇👇
1. We live in a highly uncertain & complex world.
- Jobs are getting disrupted.
- New asset classes are emerging each year.
- Macro trends like environment, energy etc are undergoing tectonic shifts.
When the world is 'changing' there is no way you can stay 'put'.
- Jobs are getting disrupted.
- New asset classes are emerging each year.
- Macro trends like environment, energy etc are undergoing tectonic shifts.
When the world is 'changing' there is no way you can stay 'put'.
2-a) As an individual, you need to be good at calculating your risk-reward equation.
Example:
- Should you leave your job?
- Risk: you will lose your salary & identity
- Reward: you can possibly make more & create a new identity.
Now calculate:
Example:
- Should you leave your job?
- Risk: you will lose your salary & identity
- Reward: you can possibly make more & create a new identity.
Now calculate:
2-b) Risk analysis:
- How much you've saved up? (let's say 100K)
- How long will this last you? (let's say 10 months)
- Can you create a new income stream in this time?
- Can you create a new identity?
- Do you consider this step to be personally and professionally rewarding?
- How much you've saved up? (let's say 100K)
- How long will this last you? (let's say 10 months)
- Can you create a new income stream in this time?
- Can you create a new identity?
- Do you consider this step to be personally and professionally rewarding?
3-a) Prepare for your bad times, in your good times.
If you lose your job and then if you try to 'manage' your situation, you are in for a rough ride.
You might have a hard time getting hired;
You might feel the pressure from family and people around.
Better method?
If you lose your job and then if you try to 'manage' your situation, you are in for a rough ride.
You might have a hard time getting hired;
You might feel the pressure from family and people around.
Better method?
3-b) Always have plan A,B,C in play.
If you are working somewhere, keep scouting for better options.
Build relationships by helping people.
Learn new skills so that you have more value to offer others.
If you are working somewhere, keep scouting for better options.
Build relationships by helping people.
Learn new skills so that you have more value to offer others.
4. Summary:
As much as we worry about failures, we don't control failures; we simply control our own processes.
Being optimistic, being nice and developing strong habits like working hard are all attributes that mitigate your risk in your career and life.
As much as we worry about failures, we don't control failures; we simply control our own processes.
Being optimistic, being nice and developing strong habits like working hard are all attributes that mitigate your risk in your career and life.
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