Fri, Mar 08, 2013

The Principle of Affordable Loss

We’ve talked about the “Bird in your Hand”. And yet you’re still not doing it. That’s okay. Starting something new is scary. The vast ocean of the unknown is daunting.

Here’s another way to think about this: The Principle of Affordable Loss.

The principle states: Don’t be guided by thoughts of how wonderful the rewards might be if you were spectacularly successful at any given next step. Instead ask how big the loss would be if you failed. So long as it would be tolerable, that’s all you need to know. Take that next step, and see what happens.

Start something this weekend. There is beauty and power in creating something new. Lean into it. You won’t regret it.

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