Fortunes are made in down markets and collected in up markets, here is how to manage risk

Markets at all time HIGHs, most people: I want to BUY stocks. 

Markets are crashing: I want to SELL. 

However, as you know, the right answer is counterintuitive. It pays handsomely to be a net buyer in crashing markets and a net seller in frothy market bubbles. 

The principle applies to careers as well.

Most people: I want a safe job. 

Less than 5% of people: I want to work on risky projects even though I might make mistakes and there is a high chance of failure. 

The risk of making mistakes is considered bad. But that’s where learning happens. That is where growth happens. Always be in Day 1 mode.

Not taking risks, not learning, and not growing are the biggest risks to your career because these lead to stagnancy aka Day 2 problem.

As Bezos said in his 2016 shareholder letter “Day 2 is stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death. And that is why it is always Day 1.”

What are your thoughts about taking risks in your career?

#growth #learning #careeradvice #leadership

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