Do you make your decisions based on fear or the future?

 “If you’re not making mistakes, then you’re not doing anything. I’m positive that a doer makes mistakes.”

John Wooden

Do you choose to live a life based on risk minimization or risk management?

While initially there might not appear to be a lot of difference in these perspectives I firmly believe they are opposite sides of a continuum.

Risk minimization is a decision framework based on fear, avoiding something potentially harmful or damaging. Risk management is a decision path that is future focused, where you are intentionally seeking a path forward with the cognitive understanding that something might not happen as you exactly expect. Yet you know you will be equipped to deal with whatever happens because you are willing to think about it now and you aren’t willing to let it stop you or slow you down.

Risk Minimization: A fear-based approach to decision making and action that seeks to minimize any and all risks. The fear of mistakes, and the consequences of those mistakes, will be a driver of your actions, or a lack of action. A risk minimization attitude says “what are all the things that could possibly go wrong, and how do I avoid them?”

Risk Management: A future-based approach to life and decision making that prioritizes action and doing. You choose to make decisions with a clear understanding that not everything will go according to plan. However, with sufficient planning and an appetite for healthy risk, obstacles can and will be overcome. A risk management thinking style says, “what is the worst possible outcome of this decision or action, and how do I prepare for it?”

If you want to live life as a doer, a person that takes action and gets things done, then you must embrace a future-based approach to decision making and action. Risks simply need to be understood and managed, not avoided. Mistakes will happen and should happen. Not everything will go according to plan.

A mistake is nothing more than an opportunity to make a different decision based on better information than you had when you made your last decision. If you aren’t making mistakes then you aren’t trying hard enough and you aren’t creating opportunities for learning and growth. After all, what is the worst that can happen?

Mistakes as investments…

“Mistakes increase your experience and experiences decrease your mistakes. If you learn from your mistakes then others learn from your success.” 

Anonymous

Perhaps we should view mistakes from a debits, credits and investments perspective. For example, you get a $1 for each mistake you make. But if you repeat the mistake you have to pay back $10. However, if you learn from the mistake and turn it into a win you get $20.

I wonder how we might manage our mistake debits/credit and investment account if we thought of mistakes in this way?

Translating mistakes into experiences…


“Experience is simply the name we give our mistakes.”

Oscar Wilde

Did you make mistakes yesterday? I know that I did. I make plenty each and every day, we all do. The thing that I find missing in this quote is “reflection.” Reflection is what allows one to review their mistakes and translate those into experiences that you then learn from. A daily habit of answering three simple questions is the key to ensuring that when you make mistakes, and we all know that we will, that you can learn and grow from them. The questions that I use are:

  • What didn’t go well today?
  • What did I learn from this?
  • How will I adapt my behavior in the future to learn and grow?

There are lots of other questions, find the ones that work for you, but do it regularly so you can translate mistakes into experiences that you can then grow from.

Never waste a mistake…

“When you make a mistake, there are only three things you should ever do about it: admit it, learn from it, and don’t repeat it.”

Paul Bear Bryant

When was the last time you made a really big mistake?  I mean the kind where you knew you had a real mess to clean up?  Was it fun?  Of course not.  If it was a mistake that really mattered there can’t be anything fun about cleaning it up.  But the flip side is that without making some big mistakes you can’t really engage in big learnings.  The kind that shake you to your core and make you really dig into yourself and who you are. 

To learn from these types of mistakes you first have to admit that you have made one.  For some reason that always seems to be the hardest part.  Maybe it is pride, or ego that clouds your judgment.  Maybe a long history of success has created an aura of self-righteousness.  Whatever it is, if you can’t admit a mistake, then you can’t learn.  If you can’t learn you are going to repeat that same mistake.  

While screwing something up and making a mistake is never fun, learning from it and acting to resolve can be.  The joy comes with the doing and growing.  Never let a good mistake go to waste.  There is so much than can be learned…

 

%d bloggers like this: