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Welcome to another episode of the Cured Collective Podcast. Today, Joe discusses an alternative way of approaching risks in life. For many individuals, risks initially create a sense of unease and this unease drives complete aversion. However, this avoidance isn’t necessarily conducive with a life well-lived. There is a way to calculate risks before deciding what type of action needs to be taken. Unfortunately, the calculations that help with making these types of decisions aren’t widely taught; Joe shares what has helped him learn how to reframe (and even embrace) risks in life, business, and beyond.
Joe also explains the concept of “relative risk vs. absolute risk,” and gives the example of entrepreneurship and growing a business. Data shows that 20% of new businesses fail in their first year. Yet, this percentage doesn’t deter most entrepreneurs from still giving their new idea a shot at success. This suggests an inherent ability to confront risk, consider what is at stake, and move forward anyways. In other words, there are times when it is far more advantageous to be risk-aware than risk-averse. Starting and growing a business is one such example.
“Increasing your capacity for risk requires exposing yourself to difficult times and proving to yourself that you can make it through.” – Joseph Sheehey
Key Highlights
Episode Resources
By Joseph SheeheyWelcome to another episode of the Cured Collective Podcast. Today, Joe discusses an alternative way of approaching risks in life. For many individuals, risks initially create a sense of unease and this unease drives complete aversion. However, this avoidance isn’t necessarily conducive with a life well-lived. There is a way to calculate risks before deciding what type of action needs to be taken. Unfortunately, the calculations that help with making these types of decisions aren’t widely taught; Joe shares what has helped him learn how to reframe (and even embrace) risks in life, business, and beyond.
Joe also explains the concept of “relative risk vs. absolute risk,” and gives the example of entrepreneurship and growing a business. Data shows that 20% of new businesses fail in their first year. Yet, this percentage doesn’t deter most entrepreneurs from still giving their new idea a shot at success. This suggests an inherent ability to confront risk, consider what is at stake, and move forward anyways. In other words, there are times when it is far more advantageous to be risk-aware than risk-averse. Starting and growing a business is one such example.
“Increasing your capacity for risk requires exposing yourself to difficult times and proving to yourself that you can make it through.” – Joseph Sheehey
Key Highlights
Episode Resources