A catch phrase in the business world is “What is your risk appetite?” It means: how much are you willing to risk for “this”? “This” being a project, a decision, or an investment. However not only can this clever anecdote be used in many industries, including healthcare, I believe it can be applied to decisions that you make in your everyday life. Recently I personally asked myself, “Is this iPad really worth it? Am I going to use it? Or is it just another gadget and a fad?” I ended up buying an iPad and I love it. It was worth it. I do use it all the time. It is another gadget, but NOT just another fad.
However sometimes I also find myself wondering whether other people, such as friends or colleagues, take the time to ask themselves such questions before they make BIG decisions. (Usually I think this after they’ve made a poor decision that I don’t agree with.) Maybe I just over think things, but I do think a cost-benefit analysis is necessary for important decisions. I mean this decisions could end up effecting your relationships with others, your future career, or your bank statement. I am definitely a PROs v. CONs list kind of girl. I’m not saying that my decisions are always right. They are DEFINITELY not always right and I am no where near PERFECT. But I do try weigh all my options out first. I would never do something that would jeopardize my relationship with a close friend/loved-one or do something that would put them in a bad position. I’m not going to tell you about the dilemma I’m in that has inspired me to write this post. But let this serve as a reminder: Think before you Act because talk is cheap. Run a cost-benefit analysis in your head first. Because as Ralph Waldo Emerson said, “What you do speaks so loudly, I cannot hear what you say.”
Here are some more thoughts that are important and are also applicable. Enjoy!