"It is better to fail spectacularly than to achieve mediocrity." - Randy Pausch

Fear and anxiety is something I struggle with on a daily basis. It's just the way I am. I'm a "worse-case-scenario-thinker" which means that I imagine the absolute worse thing that could possibly happen has a high likelihood of occurring. This is not all bad, since it means I am well prepared for critical jobs and can often anticipate problems before they become catastrophes. However, this mindset gets in the way when strapped into a harness and preparing to cruise on a zip line 100 feet over the Mexican jungle; or when making life-changing decisions.

Perceived Risk vs. Actual Risk

As a worse-case-scenario-thinker, I am focused on the perceived risk instead of the actual risk. In the case of zip lining, the perceived risk is that the line would break and I would plummet 100 feet into caiman-infested waters below. The actual risk is negligible. There were two cords on the zip line, both of which were capable of holding more than three times my weight each. The greater risk was that my fear of heights would prevent me from having such a freeing and exhilarating experience.

When applying this concept to daily life, learning the difference between perceived risk and actual risk puts into perspective what I have to potentially loose or gain when making life-changing decisions.

I was terrified when I left my day job back in January 2008 to pursue a freelance videography career. I didn't know if I would be able to make enough money to live on. I didn't know if I'd be able to eat, pay rent or even afford the additional camera equipment needed to get professional work. The risk felt huge and the potential negative outcome (starvation and bankruptcy) was equally looming. Putting my dream off and staying put in a day job that interfered with my ability to focus on my career aspirations was making me miserable and becoming less of an option.

In order to move forward, I decided to name my nightmare by writing down the worse-case-scenario that might result from leaving my job. Then I worked out what my plan would be to get back on my feet should the worse case happen. What I realized is that the risk was a lot smaller than I had thought when put into perspective. I was just as likely to be successful, probably more so than I was to fail. And even if I did fail, there would be other day jobs and ways to make money to survive. In short, I could quickly get myself back to where I was. Furthermore, I realized the actual risk of staying at my day job was higher than the perceived risk of leaving my day job. By staying put, I was risking NOT having passion and happiness in my life. I was risking NOT doing what I loved for a living and having the freedom to be creative and be myself. The actual risk of leaving my job to follow my dream was negligible - temporary financial difficulty. Nine months in, I have taken a couple temp jobs here and there, but I have maintained my standard of living, increased the amount of time I have to work on what I am passionate about and have been able to replace my salary with freelance videography work. I feel happier and healthier than I did when I was making a steady paycheck.

So, what are you afraid of changing in your life? What perceived risk is holding you back from living the life you want?

Step 1 - Name Your Nightmare: Write down your worse-case-scenario. This is the worse possible outcome of your decision to start a business, change your career, go back to school, etc.

Step 2 - Name Your Vision: Write down the best-case-scenario. This is what would happen if success was guaranteed no matter what.

Step 3 - Plan Your Rebound: Now that you are thinking more positively, return to your worse-case-scenario and write down all the ways you could return to your current situation financially, etc... There are always options. What jobs could you get? Could you return to your old job or company? What are other talents you could capitalize on to make money and supplement your income? What items around the house could you sell if you needed extra cash? Could you rent out a spare bedroom, park your car and carpool/take public transportation for a couple months? How difficult would it REALLY be to get back on your feet? This is a brainstorm session, so do not spend too much time worrying about the detailed logistics of your rebound ideas. Just make a list and do not rule anything out.

Step 4 - Determine The Actual Risk: What would you gain or loose by pursuing your dreams if you were successful (a higher income, more time with family, a sense of purpose and fulfillment)? What would you gain or loose by playing it safe and staying put?

PS - Here's another fear I faced recently. This was all peer pressure, though...

Labels: Lifestyle Design