A Great Start!
On Monday I started Fall classes at BYU-Idaho. I decided recently to return to school to earn a degree in Business Management. I have never before taken a single business class, so I was extremely nervous Sunday evening. I wondered if I would completely fail or end up bored out of my mind. Neither of these has happened and my anxiety has been replaced with excitement. I have barely scratched the surface and have already gained a bit of confidence and learned valuable lessons.
I read part of a book titled, The Start-Up of You, by Reid Hoffman and learned a principle I can apply to a challenge I have faced. I took these notes:
Understanding risk this way has completely opened up new possibilities for my family. My husband, Jason, and I have wanted to buy rental properties in our area. However, I have held us back from purchasing property because I was overestimating the risk we would be taking. I let my worries control my decisions and basically dismissed every property we considered.
Realizing uncertainty is not the same as risk was a huge paradigm shift for me. I had thought they were one and the same. There will always be uncertainty and I cannot control that, but through careful planning, I can control how much risk I am willing to take. Uncertainty is much less scary when I separate it from risk.
Moving forward, it makes perfect sense to evaluate the "worst case scenario". This is one of the most important steps I can take because I am a worrier. Usually my worries are not in proportion to actual risk, my worries are always much worse. Thinking through actual worst case scenarios will hopefully help me separate actual risk from my over-the-top worries. I look forward to trying this out and will report later how it has worked out.
Lastly, I love the idea of becoming risk resilient by taking small risks first. This is one thing I will continue to think about and discuss with Jason. I could see it being very helpful to start small. I'm going to look for opportunities where I can take a small, calculated risk and see how it goes. I'm excited to try this out!
Interesting books I discovered this week: The Start-Up of you by Reid Hoffman, The $100 Startup by Chris Guillebeau
Jennifer Hales
I read part of a book titled, The Start-Up of You, by Reid Hoffman and learned a principle I can apply to a challenge I have faced. I took these notes:
Risk:
- We tend to overestimate it
- Uncertainty is not the same as risk
- I can become risk resilient
- Evaluate the worst-case scenario when deciding if a risk is worth taking
Understanding risk this way has completely opened up new possibilities for my family. My husband, Jason, and I have wanted to buy rental properties in our area. However, I have held us back from purchasing property because I was overestimating the risk we would be taking. I let my worries control my decisions and basically dismissed every property we considered.
Realizing uncertainty is not the same as risk was a huge paradigm shift for me. I had thought they were one and the same. There will always be uncertainty and I cannot control that, but through careful planning, I can control how much risk I am willing to take. Uncertainty is much less scary when I separate it from risk.
Moving forward, it makes perfect sense to evaluate the "worst case scenario". This is one of the most important steps I can take because I am a worrier. Usually my worries are not in proportion to actual risk, my worries are always much worse. Thinking through actual worst case scenarios will hopefully help me separate actual risk from my over-the-top worries. I look forward to trying this out and will report later how it has worked out.
Lastly, I love the idea of becoming risk resilient by taking small risks first. This is one thing I will continue to think about and discuss with Jason. I could see it being very helpful to start small. I'm going to look for opportunities where I can take a small, calculated risk and see how it goes. I'm excited to try this out!
Interesting books I discovered this week: The Start-Up of you by Reid Hoffman, The $100 Startup by Chris Guillebeau
Jennifer Hales
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