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When failure is inevitable, politicians, policy-makers, executives, and leaders of organizations try to belittle their efforts so as not to appear a failure. That what they have done is a soft launch, an experiment, pilot, a test-case, so on and so forth.
This happens in so many situations where the first few efforts are being calibrated based on a possibility of failure, not of success. De-risking becomes the favorite word these days.
But in the broader sense, de-risking is the other side of courageous work.
If you hedge against failure, you will instinctively become protective of what you have, therefore you will play not to lose.
But if you play to win, derisking increases its value to you and what you're trying to accomplish. It creates more success conditions because you're aware of the possible traps and pitfalls but yet, moving forward with greater resolve.
Derisking shouldn't be used if trying is not even an option.
If you want to derisk, why not just hide under the covers and wait for a better day, which is in my book, you may have to wait for a long time.
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A few weeks ago another cryptocurrency disaster made a shocking headline.
$1.4 Trillion dollar value was lost out of the Sam Bankman-Fried's FTX and its overall effect on the crypto-world. Why charities are banking on the crypto potential for giving until now is such a childish response? The volatility of this sector is such that you can trust your dog to go home after a day's out more than your crypto dollars to work for you. You can't trust a system when you know that there are no guarantees, no protections, no legitimacies, and no governance that underpin any modern system, whether it's the financial, political, social, and economic in nature.
Philanthropy, charity and giving must veer away from high-stakes, high-loss ventures when ordinary people's monies are at stake. What charity can afford to gamble these hard-earned monies earned from the skyrocketing inflations for the sake of creating a new approach, model, or vehicles?
In the banking world, trust is not just a philosophical value, it's the no. 1 operative word. Crypto is made-up money and before you know it, it's gone without a clue. Charities, check your donors and keep safe from the minefields of volatile approaches.
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Leaders of on-purpose organizations are trying hard to diagnose their own problems. They may get to symptoms but it will be way off from the mark in terms of what's the cause of their miseries or wasting the opportunities they should be claiming. In short, value left on the table.
It's like trying to be a doctor and treating your own illness. Or doing your own surgery for which you're not trained or even qualified to do. They want to get the cheapest doctor or specialist. They think they can do it themselves. They look for commodities as against the right resource for the right kind of value-increasing proposition facing them.
This is not a question of money or the question of time or competency of staff, Board, or executive to undertake. This is about the political will and the right measure for risks.
This represents the overabundance of caution based on a fear-based leadership.
Are you leading based on fear by being afraid to expose your own truths to yourself? Change readiness is the attitude, motivation, and drive to change. It starts with you, now, and not tomorrow.