Risk vs. Reward

Risky Business

Risk vs. Reward

by Dave Bocking

For the last few years, I have been able to navigate through life with very little resistance. There are many contributing attitudes and perspectives that help day to day, but in those times of making very difficult decisions, I always weigh the (potential) RISK vs, (potential) REWARD.

I will use a very straight forward situation that almost everyone has encountered:

I drive to a party and have a few drinks. I’m not necessarily drunk, but could potentially blow over the limit should I get pulled over. I think about how much of a pain it would be to pay for a cab, and have to get back to my car in the morning… but by weighing the potential risk versus the potential reward, the decision is obvious.

Potential Risk – Get pulled over, lose licence, or even worse, hurt someone.

Potential Reward – Save $15 on a cab, don’t have to worry about getting my car in the morning.

In this situation the risks outweigh the reward. Sure I might drive home with no problems, but is it WORTH the risk?

This is just one example among millions… you can apply the Risk vs. Reward strategy to just about every decision in life. It’s not always necessary to step outside and analyze which choice is best… but if you come across a “difficult” decision, playing through both potential choices and outcomes can help make it very clear, which route is best.

You may say to me that it is GOOD to take risks… and I would not try to argue with you. It is definitely important to take risks in order to achieve goals in life, but by playing through the potentials of any situation, you also eliminate any chance of feeling REGRET.

If you make a decision after accepting all of the potential outcomes, you can never say you wish you had done something different… and that is powerful!

[author] [author_image timthumb=’on’]http://1000lifelessons.com/wp-content/uploads/2011/08/davebocking-e1312740851321.jpg[/author_image] [author_info]Dave Bocking lives in Guelph, Onterio. He spends most of his time traveling, learning, and experiencing life to its fullest. You can connect with Dave on Facebook by searching David Bocking.[/author_info] [/author]

  • http://jakyastikblogs.blogspot.com Jaky Astik

    Hey Dave, your blog looks new but it feel so soothing. A 1000 life lessons is a great idea! Like, it is going to be a great long blog for inspiring and helping people. Already excited about your project. Good work!

    • Dave

      Hi Jaky, thank you for your message but I am actually not the creator of this fantastic website. Leo (who has posted most of the other “Lessons”) is the creator, I have just contributed a few notes to the cause.

      • http://www.leot.me Leo Tabibzadegan

        lol thanks for clarifying Dave! :)