Many people don’t understand the difference between taking risks and gambling. Here is the definition of gambling:
| Gambling | v. 1. To take risky action with the hope of a desired result despite very little chance of success. 2. The risking of money or other items of material value on an event, with an uncertain outcome with the primary intent of winning additional money and or goods of material value. |
For us, we don’t gamble. However, we do take a lot of risks. The difference is that when gambling, you have a high chance of losing, whereas with a calculated risk, you have a high chance of winning!
A calculated risk is where you give thoughtful consideration to the risk and for that which the potential costs and potential benefits have been weighed and considered.
Add to the mix one’s level of trust… we take risks and we trust. Many people gamble and have no trust… go figure!
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Leadership Advocate and Co-Founder of the Goldzone Group. I help leaders to master the new rules of leadership for the new economy. Over the past 30 years, I have visited more than 500 cities in 54 countries to explore, learn from, and help many of the world’s leading companies, leaders, and luminaries in science, technology, health, finance, and entrepreneurship.