The Three Options Contingency
Both the Vikings and Alexander would burn their ships when attacking an island. Their commitment was clear, and their options were two: Win or die. There was no chance for retreat and no mitigating the risk. Staying focused was not a challenge, and contingency plans literally went up in smoke.
Yet, contingency plans in today’s world help me deal with risks. To be successful in most leadership or executive roles I’ve had, I came up with a way for me to tolerate risks – to acknowledge the risks and be able to act anyway. When I write that, it sounds easy. It is not.
“There is only one big risk you should avoid at all costs, and that is the risk of doing nothing.” – Denis Waitley
Life is risky. Denis always appeared to me as powerful and logical, and I still did not know how to “take risks.”
Contingencies for Risk
I developed a practice I call “Three Options” — here’s how it works:
- My first option is to stay in the role I have.
- I then create a contingency plan just in case my existing role does not work out.
- The contingency plan also may not work, meaning I need to have a backup contingency plan. When I have two contingency plans, I can tolerate the risks required to perform my role to standards I am satisfied with. This is now the line I toss to myself and others when they or I hesitate to take a risk.
Want to learn more tips for improving your leadership skills and taking risks? Enroll in an upcoming MacklinConnection Workshop.