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On Risk and Failure
A lot of us are afraid of “failure”— and many of us are “risk averse.”
But what does that really mean? And what is the worst-case scenario?
CONQUER YOUR FEARS AND MEET NEW PEERS >
Feedback, not failure
Failure: I think we should get rid of this word from our vocabulary.
Rather, the word we should replace with failure is ‘feedback’.
Feedback: information that teaches, educates, and informs you.
For example, let’s say you have a goal, and you are not able to reach it. You didn’t fail—you just got feedback.
Risk
What is risk?
Risk: to have ‘skin in the game’— to have the chance of failure, or some negative conscience.
For example if you start your own business, you have a risk of going broke. But generally in life,
The higher the risk, the higher the (potential) reward.
Take more risks in photography and life
For example, in street photography, the more bold the risks you take, the higher your chance of making a really good picture.
In business, you might make a very risky investment. If you fail, you might go broke. But if you succeed, your return on your investment will be massive.
Failure doesn’t exist
So for me, this is how I see life:
Take more risks in life, because failure doesn’t exist.
Honestly, the worst case scenario most of us fail in modern society is bankruptcy. But my mom filed bankruptcy, and it isn’t that bad.
We also fear failure because we’re afraid of the social stigma of failure. For example, let’s say you start a risky business and you fail, you are afraid of being called an idiot, a loser, or “failure” by your peers or family.
What are you really afraid of?
So friend, what do fear more in life? Do you fear the negative consequences of failure like going broke and homeless, or do you fear the negative social repercussions?
For me, I really have no fear of failure.
Why?
- I’ve reduced my basic needs (food, shelter) to a bare minimum. So I don’t fear going broke. I can sleep on the hard floor with a sleeping bag, and subsist off eggs and coffee.
- I don’t fear people talking shit about me — because I don’t care about the opinions others have of me (whether positive or negative).
How to conquer your fears
The first part is a stoic technique: imagining the worst-case scenario, and preparing yourself mentally for it. It is considering the mental bias of ‘loss aversion’ (we fear loss, more so then we are excited about gains). For example at a casino, losing $100 is twice as painful as winning $100 (this is why I don’t gamble).
The second part is building up your self-esteem and ego. Modern society tells us it is bad to have an ‘ego’. I disagree —we need a healthy and strong ego, to not care about what others think of us. I think the stronger your ego, the stronger your self-confidence.
LIVE AN EPIC LIFE!
Friend — you have your entire life ahead of you.
Do you prefer to life a safe, and normal life —or do you want to live a grand and epic life?
The choice is up to you. But for myself, I would rather take massive risks, and have the (small) chance of winning big.
BE BOLD,
ERIC