Successful wealth managers usually have a consistent discipline about investing, and especially regarding risk. One CEO of an investment advisory firm thinks you should reflect on ANY risk like an investor. This short article may help you reduce the downside of your next initiative.
CEOs everywhere want to be successful and often when feeling under pressure, will overreach in a strategic move by taking on higher risk business initiatives. These moves remind me of when the team is falling behind in a game and upping the risk tolerance (in the hopes of catching up) by throwing a Hail Mary pass. Oh yes, the pass is successful every now and then; yet, more often than not, it goes into the statistics as another incomplete.
A better use of your emotional energy is to be highly disciplined and complete those 8-12 yard passes and the higher completion rate results in stellar win.
Now ask yourself, “Am I a Leader?”