Have you ever taken a huge risk that didn’t work out?

Our reader poll today asks: Have you ever taken a huge risk that didn’t work out?

– Yes, I’ve made a huge bet and it was a big disaster: 70%

– No, whenever I’ve taken such risks, they’ve always worked out: 17%

– No, I’ve never made a big bet: 13%

Can you handle the fallout? A very large proportion of you have taken a large and disastrous risk. The issue isn’t the risk itself, but the consequences. If things ended up being disastrous, was it because you weren’t prepared for the fallout from the decision? Before embarking on a major risky venture, spend time constructing the truly worst-case scenario. Too many times I see people construct “worst” scenarios that are only minor setbacks. You have to plan for everything going wrong. Assess that perfect storm of bad outcomes and assume everything goes wrong. Ask yourself if you can handle the negative outcome of that perfect storm. If the answer is “no,” then reconsider taking the risk in the first place.

Do you agree with these poll results? Let us know in the comments below!

– Mike Figliuolo at thoughtLEADERS, LLC

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These results were originally a SmartPulse poll in SmartBrief on Leadership which tracks feedback from more than 210,000 business leaders. Get smarter on leadership and sign up for the SmartBrief on Leadership e-newsletter.