The bad outcome principle
Summary
- The bad outcome principle is to imagine all the things that could go wrong, then make contingency plans for how to resolve it.
Details
- Bad things will happen, its just a question of time.
References
Quotes
"The bad outcome principle: Don’t just imagine the ideal future outcome. Imagine the things that could go wrong and how you’ll overcome them if they do.
When bad things happen, there is no two-minute warning where you get
a commercial break to prepare. You have to deal with it as it happens. The best decision-makers know that bad things happen, and that they’re not immune. They don’t just wing it and react. They anticipate and make contingency plans. And because they’re ready, their confidence doesn’t crack. The venture capitalist Josh Wolfe likes to say, “Failure comes from a failure to imagine failure"