Regret or Failure?
Regret or Failure?
When I was in my corporate career thinking about striking out on my own I wouldn’t even let myself think about the possibility of success. I did an exercise based on the stoic Seneca that was more formalized by Tim Ferriss and his TED Talk to help me get really clear on what the worst possible scenario would be if I quit my job.
Essentially you ask yourself what is the WORST thing that can happen and plan for that.
I know it sounds like an awful exercise, but the experts agree that fear is the most powerful motivator of all. So when I found myself busy with activity and no actual accomplishments I needed to get FEAR involved.
You start by asking yourself a simple question.
WHAT IF I..
In this case I will use the example of What If I Quit My Job.
Next you make a list and DEFINE all of the worst things that can happen if you do this thing. Think of all of them aim for 20, even 30, get them all on paper.
The worst things that could happen if I quit my job:
- I would have no money
- I wouldn't be able to support myself
- I would have to get another 9-5 job
- I would look stupid
- I would fail
- I wouldn't be able to help people
- Everyone would know
- I would look selfish / greedy / stupid
- I would leave my company in a terrible position
- I wouldn't be able to do it on my own
- etc.
Next you make a list of all of the things you could do to PREVENT this 'worst case scenario thing' from happening.
What could I do to prevent these things:
- I would have no money -> Save money before you leave, start working a side hustle to build up income, cash out on investments
- I wouldn't be able to support myself -> See above
- I would have to get another 9-5 job -> What about freelance or part time, side hustle to build up income
- I would look stupid -> I look stupid for staying in a job I hate also I'm going to let the opinions of others stop me?
- I would fail -> Try! Take classes, refine skills
- I wouldn't be able to help people -> Help people for free / paid before I take the leap
- Everyone would know -> and?
- I would look selfish / greedy / stupid -> I'm going to let the opinions of others stop me?
- I would leave my company in a terrible position -> Set up a sustainable system before I leave, don't take on any new projects that I won't be able to complete, help find and train my replacement
- I wouldn't be able to do it on my own -> Hire a mentor, coach, get in a mastermind
- etc.
Next you make a list of all the things you could do to REPAIR this if the worst came to fruition. Actions you could take to fix the situation or people you could ask for help.
So if these things happened here is how I could fix them:
- I would have no money -> Cash out on investments, get a part time job, freelance, house / dog sit, move in with my parents
- I wouldn't be able to support myself -> See above
- I would have to get another 9-5 job -> I could freelance, do part time, or temporary 9-5 while I built up my business
- I would look stupid -> I could share my journey vulnerably and honestly changes the conversation from stupid to courageous.
- I would fail -> Try again, go back to corporate, other employment options
- I wouldn't be able to help people -> Ask those people how I can best serve them, what they need help with and what I could have done differently
- Everyone would know -> and?
- I would look selfish / greedy / stupid -> See bullet above about sharing vulnerably
- I would leave my company in a terrible position -> Offer to give extended notice to assist.
- I wouldn't be able to do it on my own -> Hire a mentor, coach, get in a mastermind
- etc.
Has anyone else in the history of time with less intelligence or privilege been successful with this before? Chances are the answer is HELL YES.
If you did take the leap, what would the benefits of this be?
For me, in this example:
- I would have tried
- I would know I could do it or not
- I could make a difference in other people's lives
- I would be able to travel more
- I would be fulfilled / living my purpose / make an impact
- I would have time/ location/ financial independence
The final step is looking at the COST OF INACTION. This for me is where the real fear set in. If I didn't do anything, I would be left at the age of 65 with a retirement package, a 401k and a life I lived for someone else. I would be filled with regret.
We often consider what shit will go down if we take the leap, but we rarely consider the cost of INACTION. And this fear was an extremely powerful motivator for me.
What would your life look like in 3-6 months if you didn’t do the “What if I" statement?
This gives you the opportunity to make the hard choices from a place of defining your fears rather than defining your goals which is great to do and super inspiring, but doesn't motivate you to action.
If this got you fired up and ready to chase your passion, book a free 30 minute call with me where we will get super clear on the next action you need to take to create the future of your dreams. Grab a time slot here.