This is Stephen Robbins.

Welcome to the Get It Done guys quick and dirty tips to work less and do more.

Are you taking enough risks?

Today's episode on decision making under uncertainty may be the most important episode I've ever written.

It gets a bit technical, but it's worth taking the time to understand this.

Master this technique, and it can change the course of your life for the better, forever.

One of my favorite classes in business school was entrepreneurship. The professor asked us on the last day of class, are you taking enough risks? Playing it too safe is a guaranteed way to get nowhere in life. I've thought about that question a lot

during my career, and my answer is pretty much always no. But I've never known which risks to take,

and which risks would be, well, a bit too risky. I can pinpoint four decisions in my life that were

the wrong decision, the very, very wrong decisions. And yet,

no matter how many times I've reviewed them, given the information that available at the time,

I would do the same thing. Luck played a big factor in the actual outcome, and there was no obvious

way to account for that in the decision-making process. Or no obvious way, until now.

Recently, Billy Murphy of Foreverjobless.com and the Forever Jobless podcast came into my life.

A 29-year-old former professional poker player turned entrepreneur, Billy wrote an article that

gave me the missing piece. In one reading, he changed how I think about

decision-making forever. I've recorded an interview with Billy that you can listen to at

get-itdungai.com slash Billy Murphy. The tool that he presents is something that I learned in my

first semester in business school in the module on decision-making under uncertainty,

way back before I made those sucky uncertain decisions.

But business school never taught me when and how to use the tool.

They just presented it as an isolated technique.

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