Business Risk Quotes

Persistence. Perfection. Patience. Power. Prioritize your passion. It keeps you sane.

Don't blow off another's candle for it won't make yours shine brighter.

Don't set your goals by what other people deem important.

If you're waiting until you feel talented enough to make it, you'll never make it.

If you're offered a seat on a rocket ship, don't ask what seat! Just get on.

When a population becomes distracted by trivia, when cultural life is redefined as a perpetual round of entertainments, when serious public conversation becomes a form of baby-talk, when, in short, a people become an audience, and their public business a vaudeville act, then a nation finds itself at risk; culture-death is a clear possibility.

Besides we are men, and after all it is our business to risk our lives.

There are always risks in battle. It's a dangerous business. The trick is to take the right ones.' [said Halt]. 'How do you know which are the right ones?' Shigeru asked. Halt glanced at his two younger companions. They grinned and answered in chorus, 'You wait and see if you win.

Be a King. Dare to be Different, dare to manifest your greatness.

Men love women who are courageous for it means they can go all the way with him in his pursuit of his good dreams and intentions.

A confident woman wears a smile and has this air of comfortability and pleasantness about her.

Effective risk management and compliance are essential for protecting the company's assets and reputation.

Don't die without fulfilling your purpose.

Why would he appear to be so freaking concerned about me to my fake boyfriend anyway? she thought. He needs to mind his own business and keep out of mine. Shallow, arrogant bastard!

It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money - that's all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot - it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.

Dare to be different. Represent your maker well and you will forever abide in the beautiful embrace of his loving arms.

It is only by being bold that you get anywhere. If you are a risk-taker, then the art is to protect the downside.

We risk missing out on joy when we get too busy chasing down the extraordinary.

God is never tired of bringing the sun out every morning, taking it in the evenings and bringing out the moon.

An average man is egoistic, proud and has strong self esteem. They always require partners who massage their ego not those who will drag their ego to the mud.

When technology takes over every aspect of our lives, we won’t care anymore about the data but poems, songs, paintings and other creative arts.

The art of a successful business lies in identifying and mitigating the risk. Not overlooking and avoiding the risk.

Your words are powerful so what you say goes a long way to either establish or destroy you; this is why you should say things that God has said concerning you, not things that situations or circumstances say.

Be prepared to take the risks. Even when you see others playing safe, you shouldn’t.

If you don’t take more risks with time, your business will become stagnant and can start its downfall.

An intelligent woman is a goldmine! She has the ability to learn, reason and understand things better and faster than her contemporaries. She is competent, alert and can reason out stuffs easily.

Risks and opportunities are different sides of the same coin.

Don't call yourself discouraged anymore;it's no longer your name.

You can cross a river by swimming but it’s good to learn how to swim before you jump in the river.

You need to be a risk-taker, but you have to also make sure that you are a calculated risk-taker.

Not having a contingency plan or never performing risk analysis and mitigation activities is like not having an insurance plan for yourself.

Don't let any situation intimidate you anymore, don't accept defeat anymore.

Don't just float through life; don't just agree to anything and everything, have a course you are known for at all times.

You can change any status quo, stand out, walk by faith and not by sight and things will definitely go well with you.

Edward had used work and accomplishments throughout his life to keep the misery at bay. He’d endured so much heartache in the first eighteen years of life that he’d chosen to run from any further possibility of that happening again. Work was the way he accomplished that.

To be honest, I'm not sure about this whole scared of commitment business. I think it's become too handy, a useful phrase that men can bandy about whenever they feel like being assholes. And sure, I do believe there are some men who are genuinely terrified of commitment, but there aren't that many, and for the most part I think it's that they haven't met the right woman yet. Because if a man, no matter how scared he professed to be, met the woman of his dreams, he wouldn't want to let her go, would he? And sure, he might not want to actually get married, but if he were madly in love and risked losing her, he'd do it, wouldn't he? That's what I think, anyway.

If the company is going to thrive financially, then the board must inquire about the effectiveness of financial controls and risk management practices.

Community engagement and social impact enhance a company's reputation and reduce risk.

A confident woman knows her worth and so doesn’t fret when her man is highly placed or is often found amidst other women in the course of his business or assignment.

Patience is a virtue not a vice.

Starting my own business was the only thing that made life’s other risks—marriage, Vegas, alligator wrestling—seem like sure things. But my hope was that when I failed, if I failed, I’d fail quickly, so I’d have enough time, enough years, to implement all the hard-won lessons. I wasn’t much for setting goals, but this goal kept flashing through my mind every day, until it became my internal chant: Fail fast.

Weigh whatever you are about to say; what will it do to your hearer - encouragement, edification, disappointment or fear? What will it do to your life - glorify, edify, beautify or weigh you down? Speak well and things will go well.

I've missed the rush of power that comes with playing a game like this, of strategy and cunning. I hate to admit it, but I've missed risking my neck. There's no room for regrets when you're busy trying to win. Or at least not to die.

If the company is going to thrive financially, then the board must ensure the company has adequate risk mitigation strategies in place.

Instead of waiting for a leader you can believe in, try this: Become a leader you can believe in.

Dominate in your domain; You can do it.

Don't say negative things about your spouse and children.

The utilization of productive assets is what investing is about.

In business partnerships, it's important to do your due diligence and eliminate as much risk from the deal as possible.

When we are connected to the source, we will not be afraid of any task set before us.

Accept responsibilities for all your actions. Learn from your past and your mistakes.

Diversification across success metrics acts as a hedge against unforeseen risks.

You are not permitted to suffer what others suffer, you are not permitted to fail or die young.

What Huxley teaches is that in the age of advanced technology, spiritual devastation is more likely to come from an enemy with a smiling face than from one whose countenance exudes suspicion and hate. In the Huxleyan prophecy, Big Brother does not watch us, by his choice. We watch him, by ours. There is no need for wardens or gates or Ministries of Truth. When a population becomes distracted by trivia, when cultural life is redefined as a perpetual round of entertainments, when serious public conversation becomes a form of baby-talk, when, in short, a people become an audience and their public business a vaudeville act, then a nation finds itself at risk; a culture-death is a clear possibility.

You can’t sell it outside if you can’t sell it inside.

You recreate your world to your taste with God's Word in your mouth.

When a man finds this kind of woman, he will go all out for her knowing that she will not be a letdown.

These days when you kiss a prince you often run the risk of turning him into a frog. But don't let the ogres in shining armor get you down. There is no need for distress - you don't want to be anyone's damsel anyway. Simply remind yourself that you are busy racking up those 'frequent failure points' that will eventually pay for an all expenses paid trip to Mr Right.

God rewards every act of obedience to His Will.

Management’s job is not to prevent risk but to build the ability to recover.

The more numbers you know through market research, the more you will be able to cut down your business risk.

The best way to improve your decision-making and decrease your business risk is to use data to guide your decisions.

Seven Ways To Get Ahead in Business: 1. Be forward thinking 2. Be inventive, and daring 3. Do the right thing 4. Be honest and straight forward 5. Be willing to change, to learn, to grow 6. Work hard and be yourself 7. Lead by example

The purpose of leadership is to change the world around you in the name of your values, so you can live those values more fully.

Insurance is important in business. It just makes sense that we share risk for low probability high impact events.

Starting a business is risky. But with every risk, there are substantial rewards. Successful entrepreneurs learn to keep their minds focused on the rewards.

Every business should own, at minimum, a general liability insurance policy. The business needs to protect itself and mitigate against risk.

You may not attain the highest height with one leap but my dear; you will reach your destination.

A woman that is patient has the ability to endure provocation, pain, annoyance etc, with much calm and strength.

Want to make waves in the business world? Then you gotta be bold, take risks, and always be ready to pivot.

The anthropologist Richard Leakey has warned that “Homo sapiens might not only be the agent of the sixth extinction, but also risks being one of its victims.” A sign in the Hall of Biodiversity offers a quote from the Stanford ecologist Paul Ehrlich: IN PUSHING OTHER SPECIES TO EXTINCTION, HUMANITY IS BUSY SAWING OFF THE LIMB ON WHICH IT PERCHES.

Shaping the company's future requires strategic foresight to identify opportunities and threats before they become critical.

We need to create a culture that reinforces the value of taking risks and learning from failure and the need for repetition and practice to create mastery.

If she was willing to risk her eyebrows, that was her own business.

Your mouth is not given to you for feeding alone; it is given to you to programme events and circumstance around you.

...[D]ivision of labor, in my mind, is one of the dangers of work-based technology. Modern IT infrastructure allows us to break projects into very small, discrete parts and assign each person to do only one of the many parts. In so doing, companies run the risk of taking away employees' sense of the big picture, purpose, and sense of completion.

For businesses to survive, they will need to build organizational resilience for climate change, cyber, technology, and space as part of a broader existential risk management strategy.

When you’re a manager, you work for your company. When you’re a leader, your company works for you.

Decision making and problem solving are not the same. To solve a problem, one needs to find a solution. To make a decision, one needs to make a choice.

Climate intelligence enables action-oriented, climate-aligned decisions to mitigate risks, build resilient adaptation, and identify emerging opportunities.

The future is unmapped; you can’t rely on modelling uncertainties to deliver certainty.

We need the humility to acknowledge that we may not fully understand the net impacts or timing [of AI].

Desire to give and not always receive.

Drown those degrading thoughts.

Worship is the marriage of two Spirits - the Spirit of God and the Spirit of man.

Your decision not to join the crowd may be what God is waiting for to grant you revelation on how to deliver your family, your country, business, profession or even your church!

A responsible woman is one who sees opportunities of service and responds to them quickly. In her dwells the ability to see and respond to opportunities.

Your status has changed. Your Name is changed! You are a new creation.

It was a great gift which the National Socialist Party had given to the men of the SS, that they could go into battle without physical risk, that they could achieve honor without the contingencies that plagued the whole business of being shot at.

In today's volatile business landscape, characterized by rapid technological advancements, geopolitical uncertainties, and evolving regulatory frameworks, companies must adopt a proactive and holistic approach to risk management and cybersecurity.

The first step to solving any problem is to accept one’s own accountability for creating it.

Work/life balance is not about escaping work. It’s about living exactly the way you want to when you’re at work.

Create your world with God's Word in your mouth just say it and it will be accomplished!

The presence of God is so important in the life of believers. There is abundance of all you need to make your life comfortable in His presence.

Don`t complain, Don`t compromise.

Desire to impact lives! Change destinies and make dreams come true.

Business people need to understand the psychology of risk more than the mathematics of risk.

Business is a money game with few rules and a lot of risk.

All the same, I should like it all plain and clear," said he obstinately, putting on his business manner (usually reserved for people who tried to borrow money off him), and doing his best to appear wise and prudent and professional and live up to Gandalf's recommendation. "Also I should like to know about risks, out-of-pocket expenses, time required and remuneration, and so forth"--by which he meant: "What am I going to get out of it ? and am I going to come back alive?

In business, supply chains risks are not only correlated to the competition or to collaborators or to customers. Supply chain risk is also correlated to all of the companies and industries using the same imputs as your business.

CSIPP™ (Crisis Solution Internal Philosophy and Practice) is a framework I created that is designed to help organizations effectively handle crises. It emphasizes proactive planning, continuous learning, and adaptability, focusing on maximizing the organization's ability to add value throughout the crisis.

CSIPP™ stresses the importance of data in informing risk assessments and crisis response strategies. By utilizing data effectively, organizations can make informed decisions that protect their reputation and stakeholder trust.

Bullish or bearish are terms used by people who do not engage in practicing uncertainty, like the television commentators, or those who have no experience in handling risk. Alas, investors and businesses are not paid in probabilities; they are paid in dollars. Accordingly, it is not how likely an event is to happen that matters, it is how much is made when it happens that should be the consideration.

remember when God has answered you, it no longer matters who has been against you but for Him to answer you and change your story, you have to make up your mind to disobey the wrong order, change the status quo and BE DIFFERENT!

Profitability. Growth. Quality. Exceeding customer expectations. These are not examples of values. These are examples of corporate strategies being sold to you as values.

What first separates a leader from a normal human being? A leader knows who they are as a human being.

True leaders live their values everywhere, not just in the workplace.

So cheer up Beloved; for your God is able, He is the maker of all things.

Avoid conflicts, Embrace cordiality.

A responsible woman sees and accepts only the best in a given situation.

Ladies, get confident about yourselves, build up your self-worth and esteem, love yourself and be proud of your achievements and your man will adore you for life.

Entire industries, including strategic consulting, are built on selling you frameworks for defining, tiering, and quantifying levels of uncertainty, but these calculated bets or residual risks tend to be modeled on assumptions that make them useless, or even dangerous.

When we look at supply chains and distribution in nature, we see that natural systems include an abundance of nodes in a network. Distribution is widely spread - enough to include the maximum nodes feasible yet not enough to add unnecessary time or cost to the path a thing takes from source to destination. This maximizes efficiency, and minimizes the risk of congestion and bottle-necks.

Maybe the existential risk is not machines taking over the world, but rather the opposite, where humans start responding like idle machines - unable to connect the emerging dots of our UN-VICE world.

If we can use an H-bomb--and as you said it's no checker game; it's real, it's war and nobody is fooling around--isn't it sort of ridiculous to go crawling around in the weeds, throwing knives and maybe getting yourself killed . . . and even losing the war . . . when you've got a real weapon you can use to win? What's the point in a whole lot of men risking their lives with obsolete weapons when one professor type can do so much more just by pushing a button?' Zim didn't answer at once, which wasn't like him at all. Then he said softly, 'Are you happy in the Infantry, Hendrick? You can resign, you know.' Hendrick muttered something; Zim said, 'Speak up!' I'm not itching to resign, sir. I'm going to sweat out my term.' I see. Well, the question you asked is one that a sergeant isn't really qualified to answer . . . and one that you shouldn't ask me. You're supposed to know the answer before you join up. Or you should. Did your school have a course in History and Moral Philosophy?' What? Sure--yes, sir.' Then you've heard the answer. But I'll give you my own--unofficial--views on it. If you wanted to teach a baby a lesson, would you cuts its head off?' Why . . . no, sir!' Of course not. You'd paddle it. There can be circumstances when it's just as foolish to hit an enemy with an H-Bomb as it would be to spank a baby with an ax. War is not violence and killing, pure and simple; war is controlled violence, for a purpose. The purpose of war is to support your government's decisions by force. The purpose is never to kill the enemy just to be killing him . . . but to make him do what you want him to do. Not killing . . . but controlled and purposeful violence. But it's not your business or mine to decide the purpose of the control. It's never a soldier's business to decide when or where or how--or why--he fights; that belongs to the statesmen and the generals. The statesmen decide why and how much; the generals take it from there and tell us where and when and how. We supply the violence; other people--"older and wiser heads," as they say--supply the control. Which is as it should be. That's the best answer I can give you. If it doesn't satisfy you, I'll get you a chit to go talk to the regimental commander. If he can't convince you--then go home and be a civilian! Because in that case you will certainly never make a soldier.

Don't be in the business of playing it safe. Be in the business of creating possibilities of greatness

Two things happen when your objectives are too broad—you don’t achieve the right results and you lose a lot of your resources. You want to avoid both of those.

If your objectives are too broad, they can dilute your project.

Discovering a cure for a disease is one thing, but making that cure available to everyone so it can actually be used to eradicate the problem is another thing.

A well-planned budget will save you from any kind of unexpected surprises.

Your current marketing plan, strategy, and research objective are also going to play an important role in defining your sample size.

When you want to learn something in detail, you do descriptive research.

Quantitative market research deals with collecting and analyzing numerical data to describe or predict the variables of your interest.

Qualitative research is about collecting and understanding non-numerical data. It’s about how humans think, perceive, or give meaning to a thing based on various stimuli.

Exploratory market research is generally preferred in the early stages of a project when you are more interested in exploring a subject.

Decide your objectives and make somebody responsible to implement the results for the growth of the business.

Maybe in your personal life you can go on an unplanned trip and rejoice later for it being the best trip of all time but it might not prove the same for your business.

It can also be analyzed that even an unplanned trip has a lot of planning hidden in it.

Build up your faith while starving the fears.

When a company bets on future sales to pay off existing debts, it's in a risky situation. That's a gamble that often results in bankruptcy.

Regulatory compliance is critical to managing risk.

The presence of the Lord destroys a life of struggle. You will struggle until you encounter His presence.

You are not permitted to live and die as a non-entity because you have encountered the greatness that is associated with Christ.

He is the only option for better living.

Man is like a bride unto God. God is jealous when man veers away from Him.

Another way of remaining in intimacy with God is by remaining in His presence.

Courage is the ability to execute tasks and assignments without fear or intimidation.

Ride higher in life unto the higher life.

The giver is the blessed! The receiver stands still.

Sow the right words! Think the good thought.

Life is beautiful if you take the best option.

Light is life and always wins.

Opportunity comes to everyone it depends on you whether you take it or leave it. Learn to take risks and play hard because at the end you'd be thankful for your struggle.

CSIPP™ directly helps organizations address reputational risk and crisis management from a corporate governance perspective.

How can the world find global solutions to systemic challenges like pandemics, climate mitigation and AI regulation? Regional approaches are inadequate for holistic issues.

In life, the question is not if you will have problems, but how you are going to deal with your problems. If the possibility of failure were erased, what would you attempt to achieve? The essence of man is imperfection. Know that you're going to make mistakes. The fellow who never makes a mistake takes his orders from one who does. Wake up and realize this: Failure is simply a price we pay to achieve success. Achievers are given multiple reasons to believe they are failures. But in spite of that, they persevere. The average for entrepreneurs is 3.8 failures before they finally make it in business. When achievers fail, they see it as a momentary event, not a lifelong epidemic. Procrastination is too high a price to pay for fear of failure. To conquer fear, you have to feel the fear and take action anyway. Forget motivation. Just do it. Act your way into feeling, not wait for positive emotions to carry you forward. Recognize that you will spend much of your life making mistakes. If you can take action and keep making mistakes, you gain experience. Life is playing a poor hand well. The greatest battle you wage against failure occurs on the inside, not the outside. Why worry about things you can't control when you can keep yourself busy controlling the things that depend on you? Handicaps can only disable us if we let them. If you are continually experiencing trouble or facing obstacles, then you should check to make sure that you are not the problem. Be more concerned with what you can give rather than what you can get because giving truly is the highest level of living. Embrace adversity and make failure a regular part of your life. If you're not failing, you're probably not really moving forward. Everything in life brings risk. It's true that you risk failure if you try something bold because you might miss it. But you also risk failure if you stand still and don't try anything new. The less you venture out, the greater your risk of failure. Ironically the more you risk failure — and actually fail — the greater your chances of success. If you are succeeding in everything you do, then you're probably not pushing yourself hard enough. And that means you're not taking enough risks. You risk because you have something of value you want to achieve. The more you do, the more you fail. The more you fail, the more you learn. The more you learn, the better you get. Determining what went wrong in a situation has value. But taking that analysis another step and figuring out how to use it to your benefit is the real difference maker when it comes to failing forward. Don't let your learning lead to knowledge; let your learning lead to action. The last time you failed, did you stop trying because you failed, or did you fail because you stopped trying? Commitment makes you capable of failing forward until you reach your goals. Cutting corners is really a sign of impatience and poor self-discipline. Successful people have learned to do what does not come naturally. Nothing worth achieving comes easily. The only way to fail forward and achieve your dreams is to cultivate tenacity and persistence. Never say die. Never be satisfied. Be stubborn. Be persistent. Integrity is a must. Anything worth having is worth striving for with all your might. If we look long enough for what we want in life we are almost sure to find it. Success is in the journey, the continual process. And no matter how hard you work, you will not create the perfect plan or execute it without error. You will never get to the point that you no longer make mistakes, that you no longer fail. The next time you find yourself envying what successful people have achieved, recognize that they have probably gone through many negative experiences that you cannot see on the surface. Fail early, fail often, but always fail forward.

Ethical governance fosters a culture of integrity and accountability within the organization. This can lead to improved employee engagement, reduced misconduct, and enhanced risk management.

And, indeed, this is the odd thing that is continually happening: there are continually turning up in life moral and rational persons, sages and lovers of humanity who make it their object to live all their lives as morally and rationally as possible, to be, so to speak, a light to their neighbours simply in order to show them that it is possible to live morally and rationally in this world. And yet we all know that those very people sooner or later have been false to themselves, playing some queer trick, often a most unseemly one. Now I ask you: what can be expected of man since he is a being endowed with strange qualities? Shower upon him every earthly blessing, drown him in a sea of happiness, so that nothing but bubbles of bliss can be seen on the surface; give him economic prosperity, such that he should have nothing else to do but sleep, eat cakes and busy himself with the continuation of his species, and even then out of sheer ingratitude, sheer spite, man would play you some nasty trick. He would even risk his cakes and would deliberately desire the most fatal rubbish, the most uneconomical absurdity, simply to introduce into all this positive good sense his fatal fantastic element. It is just his fantastic dreams, his vulgar folly that he will desire to retain, simply in order to prove to himself--as though that were so necessary-- that men still are men and not the keys of a piano, which the laws of nature threaten to control so completely that soon one will be able to desire nothing but by the calendar. And that is not all: even if man really were nothing but a piano-key, even if this were proved to him by natural science and mathematics, even then he would not become reasonable, but would purposely do something perverse out of simple ingratitude, simply to gain his point. And if he does not find means he will contrive destruction and chaos, will contrive sufferings of all sorts, only to gain his point!

Joy comes to us in moments—ordinary moments. We risk missing out on joy when we get too busy chasing down the extraordinary. Scarcity culture may keep us afraid of living small, ordinary lives, but when you talk to people who have survived great losses, it is clear that joy is not a constant.

In today's interconnected business landscape, risks are rarely confined to a single department or function. Instead, they often ripple across the organization, impacting multiple areas simultaneously.

When rewards come from an external source instead of an internal source, they’re unreliable, which means they’re dangerous if you grow to depend on them.

Fight your fear, your laziness, your ignorance before you worry about fighting the competition.

The first step out of the gate has to be knowing where you want to end up. What do you really want from your company?

Anyaele Sam Chiyson Leadership Law of Reproduction: Distinguished leaders impress, inspire and invest in other leaders.

Anyaele Sam Chiyson Leadership Law of Influence: It takes an influential leader to excellently raise up leaders of influence.

If every day at work feels like a Friday, then you are doing what you were meant to do.

Deep knowledge of the company's industry is essential for understanding the competitive landscape, regulatory environment, and emerging trends. Board members with industry experience can provide valuable insights and guidance on strategic decision-making, risk management, and growth opportunities.

AI won’t replace humans, but people who can use it will.” This sounds reassuring, but it oversimplifies the complex future of work and AI integration. Experts predict a surge in opportunities, but the intricate interplay between cognification, mass automation, and how we work remains uncharted. The net effect of AI on employment is unknown - we have no data on the future.

If the research is done for brand awareness and the results don't show any rosy picture, then maybe you want to share those results with your marketing head who can include more brand awareness strategies in her marketing plan.

CSIPP™ emphasizes continuous risk evaluation and the development of targeted mitigation strategies. This proactive approach helps organizations identify and address potential reputational risks before they escalate into crises.

In theory, the risk of business failure can be reduced to a number, the probability of failure multiplied by the cost of failure. Sure, this turns out to be a subjective analysis, but in the process your own attitudes toward financial risk and reward are revealed. By contrast, personal risk usually defies quantification. It's a matter of values and priorities, an expression of who you are. "Playing it safe" may simply mean you do not weigh heavily the compromises inherent in the status quo. The financial rewards of the moment may fully compensate you for the loss of time and fulfillment. Or maybe you just don't think about it. On the other hand, if time and satisfaction are precious, truly priceless, you will find the cost of business failure, so long as it does not put in peril the well-being of you or your family, pales in comparison with the personal risks of no trying to live the life you want today. Considering personal risk forces us to define personal success. We may well discover that the business failure we avoid and the business success we strive for do not lead us to personal success at all. Most of us have inherited notions of "success" from someone else or have arrived at these notions by facing a seemingly endless line of hurdles extending from grade school through college and into our careers. We constantly judge ourselves against criteria that others have set and rank ourselves against others in their game. Personal goals, on the other hand, leave us on our own, without this habit of useless measurement and comparison. Only the Whole Life Plan leads to personal success. It has the greatest chance of providing satisfaction and contentment that one can take to the grave, tomorrow. In the Deferred Life Plan there will always be another prize to covet, another distraction, a new hunger to sate. You will forever come up short.

People everywhere, including the United States, are still prone to accept stereotypes, eager to believe what we want to believe (for example, on global warming) and anxious to await while others take the lead--seeking in vain to avoid both responsibility and risk. When trouble arises among faraway people, we remain tempted to hide behind the principle of national sovereignty, to "mind our own business" when it is convenient, and to think of democracy as a suit to be worn in fine weather but left in the closet when clouds threaten.

In essence, a blitz play in football is a microcosm of corporate governance principles. It showcases the importance of coordination in mind body and spirit, clear roles, strategic planning, risk management, and performance evaluation – all critical elements in ensuring a company's success and sustainability.

The difference between being mediocre and magical is often the difference between letting people take creative risk and holding them too tightly accountable. Accountability is important, but it’s not the only thing that’s important.

If you’re not filing patents, but your competitors are, all you have is risk. You’re taking a huge chance that no one else will enter your space and kick you out. That’s the benefit of patents; you don’t have to let everybody in. You can let just a few major players in because you want what they have, or you don’t want to worry about them. Remember, you’re not at the big boys’ lunch table. But if you partner with their competitor, they’ll be worried. Then they’ll want to see if your patent protection is strong or if they can exploit a weakness.

The decisions we make in our lives—in business, saving and spending, health and lifestyle choices, raising our children, and relationships—easily fit von Neumann’s definition of “real games.” They involve uncertainty, risk, and occasional deception, prominent elements in poker. Trouble follows when we treat life decisions as if they were chess decisions.

A woman can tolerate delays knowing they are not denials; she is diligent, and composed. She is not easily irritated like love; she endures all things, beans all things and can be stretched to any limit.

Brene Brown writes: "Joy comes to us in moments - ordinary moments. We risk missing out on joy when we get too busy chasing down the extraordinary." I had been trying to chase dewn the extraordinary when actually I already had everything I would ever need.

The only way for the leader of a team to create a safe environment for his team members to be vulnerable is by stepping up and doing something that feels unsafe and uncomfortable first. By getting naked before anyone else, by taking the risk of making himself vulnerable with no guarantee that other members of the team will respond in kind, a leader demonstrates an extraordinary level of selflessness and dedication to the team. And that gives him the right, and the confidence, to ask others to do the same.

When He was challenged by Jesus to accept a life of voluntary poverty, the rich young man knew he was faced with the simple alternative of obedience or disobedience. When Levi was called from the receipt of custom and Peter from his nets, there was no doubt that Jesus meant business. Both of them were to leave everything and follow. Again, when Peter was called to walk on the rolling sea, he had to get up and risk his life. Only one thing was required in each case-to rely on Christ's word, and cling to it as offering greater security than all the securities in the world.

For businesses, it is vital to embed ethical checkpoints in workflows, allowing models to be stopped if unacceptable risks emerge. The apparent ease of building capable LLMs with existing foundations can mask serious robustness gaps. However unrealistic the scenario may seem under pressure, responsible LLM work requires pragmatic commitments to stop if red lines are crossed during risk assessment.

Throughout my business life I have always tried to keep on top of costs and protect the downside risk as much possible. The Virgin Group has survived only because we have always kept tight control of our cash. But, likewise, I also know that sometimes it is essential to break these rules and spend lavishly.

When people invest with Mayflower-Plymouth they are contributing to and benefiting from a multiplicative value effect. They’re getting financial ROI, they’re getting social ROI, they’re getting minimized risk. But they’re also getting the assurance that they’re capital is at work doing good in the marketplace.

There is no great happiness without great taboos. Even in business, to pursue one’s advantage at all costs is to risk getting nowhere. Keeping within one’s limits is the secret of all phenomena, of power, happiness, faith, and the key to the task of maintaining oneself as a tiny human creature within the universe.

company leaders need to provide their company with a self-organizing and semi-autonomous immune system. Effective risk management isn't about a siloed approach focusing on isolated threats. We have to think more broadly. Effective risk management requires a holistic approach that transcends a siloed focus on isolated threats. In today's interconnected business landscape, risks are rarely confined to a single department or function. Instead, they often ripple across the organization, impacting multiple areas simultaneously.

Reduce risk, lower your required capital, and focus on what you’re really good at—and hire others for what you are not.) This is something you should think about in any business: don’t try to do everything. You aren’t the best at everything. Find out where you have an advantage and stick to that.

Even the richest person, provided the riches comes from mutually beneficial exchange, does not need to give anything "back" to the community, because this person took nothing out of the community. Indeed, the reverse is true: Enterprises give to the community. Their owners take huge risks, and front the money for investment, precisely with the goal of serving others. Their riches are signs that they have achieved their aims.

Let the workers in these plants get the same wages -- all the workers, all presidents, all executives, all directors, all managers, all bankers -- yes, and all generals and all admirals and all officers and all politicians and all government office holders -- everyone in the nation be restricted to a total monthly income not to exceed that paid to the soldier in the trenches!   Let all these kings and tycoons and masters of business and all those workers in industry and all our senators and governors and majors pay half of their monthly $30 wage to their families and pay war risk insurance and buy Liberty Bonds.   Why shouldn't they?   They aren't running any risk of being killed or of having their bodies mangled or their minds shattered. They aren't sleeping in muddy trenches. They aren't hungry. The soldiers are!   Give capital and industry and labor thirty days to think it over and you will find, by that time, there will be no war. That will smash the war racket -- that and nothing else.   Maybe

Tristan’s Mom: What are these? Tristan: Your granddaughters. Tristan’s Dad: Don’t worry honey, you don’t look old enough to be a mother let alone a grandmother. Tristan’s Mom: Again with the flattery, thank you dear. Where did they come from? Tristan: Camie gave birth last night. Jeff: I didn’t know she was pregnant. Tristan: She wasn’t. It was a miracle. Tristan’s Mom: Do they have names? Tristan: Phineas and Ferb. Jeff: From the cartoon? Tristan’s Dad: That figures, he named the dog Scooby. Tristan’s Mom: They sound like boy names. Tristan: Mom! Shhh, you’ll give them a complex. Jeff: If that Ferb one climbs my legs again I’m drop kicking it. Tristan: That’s child abuse and I’ll press charges. Besides, they just miss their mom. Jeff: I’m calling CPS (cat protective services)… Tristan: What for? Jeff: Because you’re making your kids live in a broken home unnecessarily. Tristan: I’m not talking to you anymore. Jeff: Fine, as long as you to talk to her. Tristan: Back off. Jeff: Nope, not gonna do it. Tristan: I’m warning you man. Jeff: You miss her too. Tristan: Yeah, so? Jeff: So do something about it. Tristan: Happy? Last night was miserable and I think it’s too late. Jeff: You still have a 12 year old ace in the hole. Tristan: Saving it as a last resort. Tristan’s Dad: Honey, do you have a clue as to what they’re talking about? Tristan’s Mom: No and I don’t want one. Jeff: I’m just helping my nieces get their parents back together. Dude, it’s time. Make the call. Tristan: Alright, I did it. But I get the feeling I’m about to do business with the mob. I hope I don’t wake up with the head of my horse in bed with me tonight. Jeff: Well, a good father will do anything he can to protect his family, even if that means he runs the risk of sleeping with the fishes. Tristan: Okay girls, your aunt helped Daddy come up with a plan and if it works you should get to see Mommy today. Cross your paws, or claws, or whatever…just cross something for luck.

Humility is an essential component of servant leadership. Servant leaders recognize that they are not infallible and that they have much to learn from others. They are open to feedback, willing to admit their mistakes, and quick to give credit to others. This humility creates a culture of psychological safety, where individuals feel comfortable sharing ideas, expressing concerns, and taking risks without fear of judgment or reprisal.

In ancient Rome, when a victorious general paraded through the streets, legend has it that he was sometimes trailed by a servant whose job it was to repeat to him, " Memento Mori": Remember you will die. A reminder of mortality would help the hero keep things in perspective, instill some humility. Job's memento mori had been delivered by his doctors, but it did not instill humility. Instead he roared back after his recovery with even more passion. The illness reminded him that he had nothing to lose, so he should forge ahead full speed. " He came back on a mission," said Cook. " Even though he was now running a large company, he kept making bold moves that I don't think anybody else would have done.

Jean-Claude’s eyes widened just a bit. ‘Ma petite, you have had a busy night, I see.’ His French accent was as thick as I’d heard it in a while, which meant he was feeling strong emotions that he couldn’t quite hide, but he was trying. I appreciated the effort, because the accent alone meant that what he wanted to say was his version of, You are covered in blood and worse, which means you were in horrible danger and probably nearly died … again! How can you keep risking yourself like that when I love you so much?

I saw a moving sight the other morning before breakfast in a little hotel where I slept in the dusty fields. The young man of the house shot a little wolf called coyote in the early morning. The little heroic animal lay on the ground, with his big furry ears, and his clean white teeth, and his little cheerful body, but his little brave life was gone. It made me think how brave all living things are. Here little coyote was, without any clothes or house or books or anything, with nothing to pay his way with, and risking his life so cheerfully — and losing it — just to see if he could pick up a meal near the hotel. He was doing his coyote-business like a hero, and you must do your boy-business, and I my man-business bravely, too, or else we won't be worth as much as a little coyote.

The sooner we associate long hours and multitasking with incompetence and carelessness the better. The next time you hear boasts of executives pulling an all-nighter or holding conference calls in their cars, be sure to offer your condolences; it's grim being stuck in sweatshops run by managers too ignorant to understand productivity and risk. Working people like this is as smart as running your factory without maintenance. In manufacturing and engineering businesses, everyone learns that the top priority is asset integrity: protecting the machinery on which the business depends. In knowledge-based economies, that machinery is the mind.

Now take a look at the cemetery. It is quite difficult to do so because people who fail do not seem to write memoirs, and, if they did, those business publishers I know would not even consider giving them the courtesy of a returned phone call (as to returned e-mail, fuhgedit). Readers would not pay $26.95 for a story of failure, even if you convinced them that it had more useful tricks than a story of success.* The entire notion of biography is grounded in the arbitrary ascription of a causal relation between specified traits and subsequent events. Now consider the cemetery. The graveyard of failed persons will be full of people who shared the following traits: courage, risk taking, optimism, et cetera. Just like the population of millionaires. There may be some differences in skills, but what truly separates the two is for the most part a single factor: luck. Plain luck.

The gangs filled a void in society, and the void was the absence of family life. The gang became a family. For some of those guys in the gang that was the only family they knew, because when their mothers had them they were too busy having children for other men. Some of them never knew their daddies. Their daddies never look back after they got their mothers pregnant, and those guys just grew up and they couldn’t relate to nobody. When they had their problems, who could they have talked to? Nobody would listen, so they gravitated together and form a gang. George Mackey, the former representative for the historic Fox Hill community in The Bahamas.

Work, the gospel of work, the sanctity of work, laborare est orare - all that tripe and nonsense. 'Work!' he once broke out contemptuously against the reasonable expostulations of Philip Quarles, 'work is no more respectable than alcohol, and it serves exactly the same purpose: it just distracts the mind, makes a man forget himself. Work's simply a drug, that's all. It's humiliating that men shouldn't be able to live without drugs, soberly; it's humiliating that they shouldn't have the courage to see the world and themselves as they really are. They must intoxicate themselves with work. It's stupid. The gospel of work's just a gospel of stupidity and funk. Work may be prayer; but it's also hiding one's head in the sand, it's also making such a din and a dust that a man can't hear himself speak or see his own hand before his face. It's hiding yourself from yourself. No wonder the Samuel Smileses and the big business men are such enthusiasts for work. Work gives them the comforting illusion of existing, even of being important. If they stopped working, they'd realize that they simply weren't there at all, most of them. Just holes in the air, that's all. Holes with perhaps a rather nasty smell in them. Most Smilesian souls must smell rather nasty, I should think. No wonder they daren't stop working. They might find out what they really are, or rather aren't. It's a risk they haven't the courage to take.

How often does it occur that information provided you on morning radio or television, or in the morning newspaper, causes you to alter your plans for the day, or to take some action you would not otherwise have taken, or provides insight into some problem you are required to solve? For most of us, news of the weather will sometimes have consequences; for investors, news of the stock market; perhaps an occasional story about crime will do it, if by chance it occurred near where you live or involved someone you know. But most of our daily news is inert, consisting of information that gives us something to talk about but cannot lead to any meaningful action...You may get a sense of what this means by asking yourself another series of questions: What steps do you plan to take to reduce the conflict in the Middle East? Or the rates of inflation, crime and unemployment? What are your plans for preserving the environment or reducing the risk of nuclear war? What do you plan to do about NATO, OPEC, the CIA, affirmative action, and the monstrous treatment of the Baha’is in Iran? I shall take the liberty of answering for you: You plan to do nothing about them. You may, of course, cast a ballot for someone who claims to have some plans, as well as the power to act. But this you can do only once every two or four years by giving one hour of your time, hardly a satisfying means of expressing the broad range of opinions you hold. Voting, we might even say, is the next to last refuge of the politically impotent. The last refuge is, of course, giving your opinion to a pollster, who will get a version of it through a desiccated question, and then will submerge it in a Niagara of similar opinions, and convert them into—what else?—another piece of news. Thus, we have here a great loop of impotence: The news elicits from you a variety of opinions about which you can do nothing except to offer them as more news, about which you can do nothing.

Modernity is the condition a society reaches when life is no longer conceived as cyclical. In a premodern society, where the purpose of life is understood to be the reproduction of the customs and practices of the group, and where people are expected to follow the life path their parents followed, the ends of life are given at the beginning of life. People know what their life's task is, and they know when it has been completed. In modern societies, the reproduction of the custom is no longer understood to be one of the chief purposes of existence, and the ends of life are not thought to be given; they are thought to be discovered or created. Individuals are not expected to follow the life path of their parents, and the future of the society is not thought to be dictated entirely by its past. Modern societies do not simply repeat and extend themselves; they change in unforeseeable directions, and the individual's contributions to these changes is unspecifiable in advance. To devote oneself to the business of preserving and reproducing the culture of one's group is to risk one of the most terrible fates in modern societies, obsolescence.

Now I ask you: what can be expected of man since he is a being endowed with strange qualities? Shower upon him every earthly blessing, drown him in a sea of happiness, so that nothing but bubbles of bliss can be seen on the surface; give him economic prosperity, such that he should have nothing else to do but sleep, eat cakes and busy himself with the continuation of his species, and even then out of sheer ingratitude, sheer spite, man would play you some nasty trick. He would even risk his cakes and would deliberately desire the most fatal rubbish, the most uneconomical absurdity, simply to introduce into all this positive good sense his fatal fantastic element. It is just his fantastic dreams, his vulgar folly that he will desire to retain, simply in order to prove to himself—as though that were so necessary—that men still are men and not the keys of a piano, which the laws of nature threaten to control so completely that soon one will be able to desire nothing but by the calendar. And that is not all: even if man really were nothing but a piano-key, even if this were proved to him by natural science and mathematics, even then he would not become reasonable, but would purposely do something perverse out of simple ingratitude, simply to gain his point. And if he does not find means he will contrive destruction and chaos, will contrive sufferings of all sorts, only to gain his point! He will launch a curse upon the world, and as only man can curse (it is his privilege, the primary distinction between him and other animals), may be by his curse alone he will attain his object—that is, convince himself that he is a man and not a piano-key! If you say that all this, too, can be calculated and tabulated—chaos and darkness and curses, so that the mere possibility of calculating it all beforehand would stop it all, and reason would reassert itself, then man would purposely go mad in order to be rid of reason and gain his point! I believe in it, I answer for it, for the whole work of man really seems to consist in nothing but proving to himself every minute that he is a man and not a piano-key! It may be at the cost of his skin, it may be by cannibalism! And this being so, can one help being tempted to rejoice that it has not yet come off, and that desire still depends on something we don’t know?

Finally, when young people who “want to help mankind” come to me asking, “What should I do? I want to reduce poverty, save the world,” and similar noble aspirations at the macro-level, my suggestion is: 1) Never engage in virtue signaling; 2) Never engage in rent-seeking; 3) You must start a business. Put yourself on the line, start a business. Yes, take risk, and if you get rich (which is optional), spend your money generously on others. We need people to take (bounded) risks. The entire idea is to move the descendants of Homo sapiens away from the macro, away from abstract universal aims, away from the kind of social engineering that brings tail risks to society. Doing business will always help (because it brings about economic activity without large-scale risky changes in the economy); institutions (like the aid industry) may help, but they are equally likely to harm (I am being optimistic; I am certain that except for a few most do end up harming). Courage (risk taking) is the highest virtue. We need entrepreneurs.

Fitbit is a company that knows the value of Shadow Testing. Founded by Eric Friedman and James Park in September 2008, Fitbit makes a small clip-on exercise and sleep data-gathering device. The Fitbit device tracks your activity levels throughout the day and night, then automatically uploads your data to the Web, where it analyzes your health, fitness, and sleep patterns. It’s a neat concept, but creating new hardware is time-consuming, expensive, and fraught with risk, so here’s what Friedman and Park did. The same day they announced the Fitbit idea to the world, they started allowing customers to preorder a Fitbit on their Web site, based on little more than a description of what the device would do and a few renderings of what the product would look like. The billing system collected names, addresses, and verified credit card numbers, but no charges were actually processed until the product was ready to ship, which gave the company an out in case their plans fell through. Orders started rolling in, and one month later, investors had the confidence to pony up $2 million dollars to make the Fitbit a reality. A year later, the first real Fitbit was shipped to customers. That’s the power of Shadow Testing.

Optimists Optimism is normal, but some fortunate people are more optimistic than the rest of us. If you are genetically endowed with an optimistic bias, you hardly need to be told that you are a lucky person—you already feel fortunate. An optimistic attitude is largely inherited, and it is part of a general disposition for well-being, which may also include a preference for seeing the bright side of everything. If you were allowed one wish for your child, seriously consider wishing him or her optimism. Optimists are normally cheerful and happy, and therefore popular; they are resilient in adapting to failures and hardships, their chances of clinical depression are reduced, their immune system is stronger, they take better care of their health, they feel healthier than others and are in fact likely to live longer. A study of people who exaggerate their expected life span beyond actuarial predictions showed that they work longer hours, are more optimistic about their future income, are more likely to remarry after divorce (the classic “triumph of hope over experience”), and are more prone to bet on individual stocks. Of course, the blessings of optimism are offered only to individuals who are only mildly biased and who are able to “accentuate the positive” without losing track of reality. Optimistic individuals play a disproportionate role in shaping our lives. Their decisions make a difference; they are the inventors, the entrepreneurs, the political and military leaders—not average people. They got to where they are by seeking challenges and taking risks. They are talented and they have been lucky, almost certainly luckier than they acknowledge. They are probably optimistic by temperament; a survey of founders of small businesses concluded that entrepreneurs are more sanguine than midlevel managers about life in general. Their experiences of success have confirmed their faith in their judgment and in their ability to control events. Their self-confidence is reinforced by the admiration of others. This reasoning leads to a hypothesis: the people who have the greatest influence on the lives of others are likely to be optimistic and overconfident, and to take more risks than they realize.

[Author's note:] When I decided to write this book, I worried that my privilege would make me blind to certain truths, that I would get things wrong, as I may well have. I worried that, as a non-immigrant and non-Mexican, I had no business writing a book set almost entirely in Mexico, set entirely among migrants. I wished someone slightly browner than me would write it. But then I thought, 'If you're a person who has the capacity to be a bridge, why not be a bridge?' So I began. In the early days of my research, before I'd fully convinced myself that I should undertake the telling of this story, I was interviewing a very generous scholar, a remarkable woman who was chair of the Chicana and Chicano studies Department at San Diego State University. Her name is Norma Iglesias Prieto, and I mentioned my doubts to her. I told her I felt compelled, but unqualified, to write this book. She said, "Jeanine. We need as many voices as we can get, telling this story." Her encouragement sustained me for the next four years. I was careful and deliberate in my research. I traveled extensively on both sides of the border and learned as much as I could about Mexico and migrants, about people living throughout the borderlands. The statistics in this book are all true, and though I changed some names, most of the places are real, too. But the characters, while representative of the folks I met during my travels, are fictional.

My concern with democracy is highly specific. It begins in observing the remarkable fact that, while democracy means a government accountable to the electorate, our rulers now make us accountable to them. Most Western governments hate me smoking, or eating the wrong kind of food, or hunting foxes, or drinking too much, and these are merely the surface disapprovals, the ones that provoke legislation or public campaigns. We also borrow too much money for our personal pleasures, and many of us are very bad parents. Ministers of state have been known to instruct us in elementary matters, such as the importance of reading stories to our children. Again, many of us have unsound views about people of other races, cultures, or religions, and the distribution of our friends does not always correspond, as governments think that it ought, to the cultural diversity of our society. We must face up to the grim fact that the rulers we elect are losing patience with us. No philosopher can contemplate this interesting situation without beginning to reflect on what it can mean. The gap between political realities and their public face is so great that the term “paradox” tends to crop up from sentence to sentence. Our rulers are theoretically “our” representatives, but they are busy turning us into the instruments of the projects they keep dreaming up. The business of governments, one might think, is to supply the framework of law within which we may pursue happiness on our own account. Instead, we are constantly being summoned to reform ourselves. Debt, intemperance, and incompetence in rearing our children are no doubt regrettable, but they are vices, and left alone, they will soon lead to the pain that corrects. Life is a better teacher of virtue than politicians, and most sensible governments in the past left moral faults to the churches. But democratic citizenship in the twenty-first century means receiving a stream of improving “messages” from politicians. Some may forgive these intrusions because they are so well intentioned. Who would defend prejudice, debt, or excessive drinking? The point, however, is that our rulers have no business telling us how to live. They are tiresome enough in their exercise of authority—they are intolerable when they mount the pulpit. Nor should we be in any doubt that nationalizing the moral life is the first step towards totalitarianism. We might perhaps be more tolerant of rulers turning preachers if they were moral giants. But what citizen looks at the government today thinking how wise and virtuous it is? Public respect for politicians has long been declining, even as the population at large has been seduced into demanding political solutions to social problems. To demand help from officials we rather despise argues for a notable lack of logic in the demos. The statesmen of eras past have been replaced by a set of barely competent social workers eager to take over the risks of our everyday life. The electorates of earlier times would have responded to politicians seeking to bribe us with such promises with derision. Today, the demos votes for them.

Physiological stress, then, is the link between personality traits and disease. Certain traits — otherwise known as coping styles — magnify the risk for illness by increasing the likelihood of chronic stress. Common to them all is a diminished capacity for emotional communication. Emotional experiences are translated into potentially damaging biological events when human beings are prevented from learning how to express their feelings effectively. That learning occurs — or fails to occur — during childhood. The way people grow up shapes their relationship with their own bodies and psyches. The emotional contexts of childhood interact with inborn temperament to give rise to personality traits. Much of what we call personality is not a fixed set of traits, only coping mechanisms a person acquired in childhood. There is an important distinction between an inherent characteristic, rooted in an individual without regard to his environment, and a response to the environment, a pattern of behaviours developed to ensure survival. What we see as indelible traits may be no more than habitual defensive techniques, unconsciously adopted. People often identify with these habituated patterns, believing them to be an indispensable part of the self. They may even harbour self-loathing for certain traits — for example, when a person describes herself as “a control freak.” In reality, there is no innate human inclination to be controlling. What there is in a “controlling” personality is deep anxiety. The infant and child who perceives that his needs are unmet may develop an obsessive coping style, anxious about each detail. When such a person fears that he is unable to control events, he experiences great stress. Unconsciously he believes that only by controlling every aspect of his life and environment will he be able to ensure the satisfaction of his needs. As he grows older, others will resent him and he will come to dislike himself for what was originally a desperate response to emotional deprivation. The drive to control is not an innate trait but a coping style. Emotional repression is also a coping style rather than a personality trait set in stone. Not one of the many adults interviewed for this book could answer in the affirmative when asked the following: When, as a child, you felt sad, upset or angry, was there anyone you could talk to — even when he or she was the one who had triggered your negative emotions? In a quarter century of clinical practice, including a decade of palliative work, I have never heard anyone with cancer or with any chronic illness or condition say yes to that question. Many children are conditioned in this manner not because of any intended harm or abuse, but because the parents themselves are too threatened by the anxiety, anger or sadness they sense in their child — or are simply too busy or too harassed themselves to pay attention. “My mother or father needed me to be happy” is the simple formula that trained many a child — later a stressed and depressed or physically ill adult — into lifelong patterns of repression.

While making money was good, having meaningful work and meaningful relationships was far better. To me, meaningful work is being on a mission I become engrossed in, and meaningful relationships are those I have with people I care deeply about and who care deeply about me. Think about it: It’s senseless to have making money as your goal as money has no intrinsic value—its value comes from what it can buy, and it can’t buy everything. It’s smarter to start with what you really want, which are your real goals, and then work back to what you need to attain them. Money will be one of the things you need, but it’s not the only one and certainly not the most important one once you get past having the amount you need to get what you really want. When thinking about the things you really want, it pays to think of their relative values so you weigh them properly. In my case, I wanted meaningful work and meaningful relationships equally, and I valued money less—as long as I had enough to take care of my basic needs. In thinking about the relative importance of great relationships and money, it was clear that relationships were more important because there is no amount of money I would take in exchange for a meaningful relationship, because there is nothing I could buy with that money that would be more valuable. So, for me, meaningful work and meaningful relationships were and still are my primary goals and everything I did was for them. Making money was an incidental consequence of that. In the late 1970s, I began sending my observations about the markets to clients via telex. The genesis of these Daily Observations (“ Grains and Oilseeds,” “Livestock and Meats,” “Economy and Financial Markets”) was pretty simple: While our primary business was in managing risk exposures, our clients also called to pick my brain about the markets. Taking those calls became time-consuming, so I decided it would be more efficient to write down my thoughts every day so others could understand my logic and help improve it. It was a good discipline since it forced me to research and reflect every day. It also became a key channel of communication for our business. Today, almost forty years and ten thousand publications later, our Daily Observations are read, reflected on, and argued about by clients and policymakers around the world. I’m still writing them, along with others at Bridgewater, and expect to continue to write them until people don’t care to read them or I die.

For instance, have you ever been going about your business, enjoying your life, when all of sudden you made a stupid choice or series of small choices that ultimately sabotaged your hard work and momentum, all for no apparent reason? You didn’t intend to sabotage yourself, but by not thinking about your decisions—weighing the risks and potential outcomes—you found yourself facing unintended consequences. Nobody intends to become obese, go through bankruptcy, or get a divorce, but often (if not always) those consequences are the result of a series of small, poor choices. Elephants Don’t Bite Have you ever been bitten by an elephant? How about a mosquito? It’s the little things in life that will bite you. Occasionally, we see big mistakes threaten to destroy a career or reputation in an instant—the famous comedian who rants racial slurs during a stand-up routine, the drunken anti-Semitic antics of a once-celebrated humanitarian, the anti-gay-rights senator caught soliciting gay sex in a restroom, the admired female tennis player who uncharacteristically threatens an official with a tirade of expletives. Clearly, these types of poor choices have major repercussions. But even if you’ve pulled such a whopper in your past, it’s not extraordinary massive steps backward or the tragic single moments that we’re concerned with here. For most of us, it’s the frequent, small, and seemingly inconsequential choices that are of grave concern. I’m talking about the decisions you think don’t make any difference at all. It’s the little things that inevitably and predictably derail your success. Whether they’re bone-headed maneuvers, no-biggie behaviors, or are disguised as positive choices (those are especially insidious), these seemingly insignificant decisions can completely throw you off course because you’re not mindful of them. You get overwhelmed, space out, and are unaware of the little actions that take you way off course. The Compound Effect works, all right. It always works, remember? But in this case it works against you because you’re doing… you’re sleepwalking.

Entrepreneurs who kept their day jobs had 33 percent lower odds of failure than those who quit. If you’re risk averse and have some doubts about the feasibility of your ideas, it’s likely that your business will be built to last. If you’re a freewheeling gambler, your startup is far more fragile. Like the Warby Parker crew, the entrepreneurs whose companies topped Fast Company’s recent most innovative lists typically stayed in their day jobs even after they launched. Former track star Phil Knight started selling running shoes out of the trunk of his car in 1964, yet kept working as an accountant until 1969. After inventing the original Apple I computer, Steve Wozniak started the company with Steve Jobs in 1976 but continued working full time in his engineering job at Hewlett-Packard until 1977. And although Google founders Larry Page and Sergey Brin figured out how to dramatically improve internet searches in 1996, they didn’t go on leave from their graduate studies at Stanford until 1998. “We almost didn’t start Google,” Page says, because we “were too worried about dropping out of our Ph.D. program.” In 1997, concerned that their fledgling search engine was distracting them from their research, they tried to sell Google for less than $2 million in cash and stock. Luckily for them, the potential buyer rejected the offer. This habit of keeping one’s day job isn’t limited to successful entrepreneurs. Many influential creative minds have stayed in full-time employment or education even after earning income from major projects. Selma director Ava DuVernay made her first three films while working in her day job as a publicist, only pursuing filmmaking full time after working at it for four years and winning multiple awards. Brian May was in the middle of doctoral studies in astrophysics when he started playing guitar in a new band, but he didn’t drop out until several years later to go all in with Queen. Soon thereafter he wrote “We Will Rock You.” Grammy winner John Legend released his first album in 2000 but kept working as a management consultant until 2002, preparing PowerPoint presentations by day while performing at night. Thriller master Stephen King worked as a teacher, janitor, and gas station attendant for seven years after writing his first story, only quitting a year after his first novel, Carrie, was published. Dilbert author Scott Adams worked at Pacific Bell for seven years after his first comic strip hit newspapers. Why did all these originals play it safe instead of risking it all?

1. Recruit the smallest group of people who can accomplish what must be done quickly and with high quality. Comparative Advantage means that some people will be better than others at accomplishing certain tasks, so it pays to invest time and resources in recruiting the best team for the job. Don’t make that team too large, however—Communication Overhead makes each additional team member beyond a core of three to eight people a drag on performance. Small, elite teams are best. 2. Clearly communicate the desired End Result, who is responsible for what, and the current status. Everyone on the team must know the Commander’s Intent of the project, the Reason Why it’s important, and must clearly know the specific parts of the project they’re individually responsible for completing—otherwise, you’re risking Bystander Apathy. 3. Treat people with respect. Consistently using the Golden Trifecta—appreciation, courtesy, and respect—is the best way to make the individuals on your team feel Important and is also the best way to ensure that they respect you as a leader and manager. The more your team works together under mutually supportive conditions, the more Clanning will naturally occur, and the more cohesive the team will become. 4. Create an Environment where everyone can be as productive as possible, then let people do their work. The best working Environment takes full advantage of Guiding Structure—provide the best equipment and tools possible and ensure that the Environment reinforces the work the team is doing. To avoid having energy sapped by the Cognitive Switching Penalty, shield your team from as many distractions as possible, which includes nonessential bureaucracy and meetings. 5. Refrain from having unrealistic expectations regarding certainty and prediction. Create an aggressive plan to complete the project, but be aware in advance that Uncertainty and the Planning Fallacy mean your initial plan will almost certainly be incomplete or inaccurate in a few important respects. Update your plan as you go along, using what you learn along the way, and continually reapply Parkinson’s Law to find the shortest feasible path to completion that works, given the necessary Trade-offs required by the work. 6. Measure to see if what you’re doing is working—if not, try another approach. One of the primary fallacies of effective Management is that it makes learning unnecessary. This mind-set assumes your initial plan should be 100 percent perfect and followed to the letter. The exact opposite is true: effective Management means planning for learning, which requires constant adjustments along the way. Constantly Measure your performance across a small set of Key Performance Indicators (discussed later)—if what you’re doing doesn’t appear to be working, Experiment with another approach.