Uncertainty is not the same thing as risk

Uncertainty is not the same thing as risk

10 Feb , 2015

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By Seth Godin (He blogs at – http://sethgodin.typepad.com/)

Often, the most important work we do doesn’t bring a guaranteed, specific result. Usually, the result of any given action on our part is unknown.

Uncertainty implies a range of possible outcomes.

But a range of results, all uncertain, does not mean you are exposing yourself to risk. It merely means you’re exposing yourself to an outcome you didn’t have a chance to fall in love with in advance.

A simple example: the typical high school student applying to a range of colleges has very little risk of getting in nowhere. Apply to enough schools that match what you have to offer, and the odds are high indeed you’ll get in somewhere. Low risk but a very high uncertainty about which college or colleges will say yes.

That’s not risky. That’s uncertain. It takes fortitude to live with a future that’s not clearly imagined, but it’s no reason not to apply.

Another example: If you speak to 100 people, it’s uncertain which 40 people will be impacted by what you say. But the risk that you will resonate with no one is small indeed.

The question to ask every organization, manager, artist or yourself is, “are you hesitating because you’re not sure the future will match your specific vision, or is there truly a project-endangering risk here?”

A portfolio of uncertain outcomes is very different from a large risk.

(http://sethgodin.typepad.com/seths_blog/2015/01/uncertainty-risk.html)

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