Becoming Comfortable in the Unknown

Hi Friends, 

I’ve learned to become more comfortable in the unknown in recent years. This has not been without its emotional challenges (it’s a rollercoaster!), but I am encouraged by how things work out for people who seek to succeed while following their passions and ‘calling’ in life. While this discussion post isn’t motivated by a particular work project, I hope to encourage someone to step into a place of the unknown in favour of a better life. 

For me, this happened a year and a half ago when I quit my Director of Finance position to join my husband on an exciting work-cation to Australia. Leaving a good salary for a completely unknown start to small business consulting. Scary. Even scarier, we didn’t really know whether his job offer was a scam. With nothing but a prayer, a plane ticket and a suitcase full of clothes, we headed off. 

This experience revolutionized a life full of risk and has resulted in a life full of adventure. Until then, we’d always taken the safe path, which hadn’t amounted to much because we always wanted more. Now, we’re both fully self-employed and have become people who tend to confidently say' yes' even when things are scary, and especially when the opportunity involves travelling somewhere new (definitely not for everyone, but we love it!). 

That said, we still evaluate and try to reduce risk in everything we do. Taking risks is good. But there is a difference between well-calculated and thoughtful risk, and blind risk. So, whenever we consider a new opportunity, we run through the following steps: 

1. The first thing we do in a new situation to limit risk is run a financial analysis. How much did we need to make to break even? Can we afford to do X, Y, and Z? 

2. We prioritized financial freedom. We paid off our debt. We developed a spreadsheet that calculates our net income and net worth down to the penny. We know exactly how much we spend in a month, so we know the bare minimum we have to make. Everything else goes to a venture that will build our businesses OR towards our personal net worth growth. (Unknown bonus—I now sell this spreadsheet to others because it works!)

3. We talk about the worst-case scenario. Are we willing to live with the worst possible consequences? 

4. We talk about the best-case scenario. Does it change our lives in an amazing way, or is it mediocre? We’re learning to take excellent opportunities and leave behind mediocrity. 

5. We align our thoughts and opinions. For us, there is no room for tension in risk. If one of us isn’t onboard, we work through that or turn it down. If we turn it down, we commit to no resentment by refocusing and looking for the next thing. (it usually works out better!)

6. We evaluate our passion. Oftentimes, we take opportunities to prioritize living life over money. These usually end up being the best opportunities! 

7. We save for our retirement. We have it worked out so that even if we fail, we will still be millionaires into retirement. This gives us confidence. - And it really doesn’t take much if you start young!!

The biggest thing I’ve learnt through stepping into the unknown is that personal financial freedom is the first step to success—especially for us less risk-loving executor-types! If we were leveraged to the rate of the average Canadian, we would’ve been stuck in a mediocrity mindset or without the financial means to take the opportunities that come. 

What other steps do you take to reduce uncertainty in your personal life? 

I'm rooting for you all!

Sam