Building confidence to take risks

I’m an advocate for people following their dreams.

But I’m against following dreams blindly.

It’s important to do whatever it takes to de-risk to maximise your chances of success. If things don’t work out, you can avoid coming out worse than before.

For example, I’ve always wanted to own and grow my own business, but I took several steps to de-risk before jumping into it:

• Built up my savings to give myself as long a runway as possible

• Waited for my wife to have a steady job

• Spent two years at an early-stage startup to learn first-hand as much as I can about growth, P&L, runway and sales

• Grew my network

• Developed products on the side to reduce the runway to launch

Put together, these steps give me the best chance possible to be successful. Even if it doesn’t work out, I would come out having learnt a lot, but without any financial difficulties.

Today’s prompts are around de-risking.

Today’s Prompts

1 - Risk

What is a big risk I’ve been considering? What holds me back from taking it? What steps can I take to de-risk?

2 - Mentor

Who in my life has successfully taken a risk, and what can I learn from their approach?

3 - Quote of the day

“The biggest risk is not taking any risk... In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” - Mark Zuckerberg

4 - The 'If you don’t have time’ Prompt

What are 3 ways I can de-risk a goal I are working towards?

Get the most out of your journalling:

• Choose one prompt: Focus on just one prompt each day to avoid feeling overwhelmed.

• Be brutally honest: Reflect openly and honestly. This is your safe space to explore your thoughts and feelings.

• Take your time: Sometimes it takes a few days to clarify your thinking. Here’s permission for you to take your time to unravel a prompt and not take on any new ones during that time.

• Journal your way: Whether you prefer writing, audio recording, or video, choose the method that suits you best.

• Don't stress about streaks: If you miss a day, don't worry. You can always revisit a previous prompt.

I’d love your feedback

What was your favourite prompt of the day? Is there any specific challenge you want prompts for? How can I improve the content of the newsletter? Reply this mail and let me know!