When To Take A Risk [Todd]

I am a huge fan of the management guru and researcher Jim Collins, the cat who wrote Good To Great and Built To Last.

One of my most cherished possessions is a copy of the former book personally autographed by Jim (we friends of Jim call him "Jim"). He signed it for me the day I made him cry. But that's another story for another blog post.

He has a new book out called How The Mighty Fall, which you can Amazon here.

As with everything he writes, it is worth reading. I especially like the three questions he poses for deciding whether or not to take a risk:

1. What is the upside, if events go well?
2. What is the downside, if events go really badly?
3. Can I live with that downside, really?

The questions are brilliant, because they are simultaneously simple and profound. Next time you face a risk, personally or professionally, run them through this filter. I know that I am, even now.