I came across an old article I’d saved and thought it would be of great value during these trying times.
Thinking about and understanding risk is important whether you consider yourself a risk-taker or not.
Last year, Bill Buxton, researcher, professor, and author wrote a great column on risk in Business Week.
“Entrepreneurs, like ice climbers, are often said to risk their necks. But there are ways to cut danger to sane levels—and some very good reasons to try.”
People often comment that both groups are, politely speaking, nuts.
After offering up a detailed explanation of ice climbing Buxton says, “…the four considerations employed by …read more

I’ve always thought of life as a corridor with dozens of doors opening, each one representing an opportunity.
You may open one or pass them by—it’s your choice.
Each time you do open one and enter that door closes forever and you move down a new corridor full of doors.
The door you entered is sealed because whatever lay behind it changed you, so you can’t go backwards, only forward.
Some people to through life opening as few doors as possible, changing as little as possible and staying as safe as possible.
Others launch themselves through the most interesting doors with gusto, taking advantage of …read more

Last month I wrote an article linking to a study at Harvard on the dangers of hiring based solely on experience.
On a different, and seemingly unconnected subject, everyone has read and heard the term ‘risk’ and ‘risk assessment’ in conjunction with our current economic hell (sorry, I’m tired of all the euphemisms) and most of us wonder what the drugs of choice were for those who were paid to assess said risk.
Now I’m wondering what the drugs of choice are at the New York Federal Reserve Bank, which apparently took titles and job description as proof of competency and …read more