Want a successful outcome? Build margins of safety.
Last updated
Last updated
Want to guarantee a successful outcome? Build in margins of safety.
Ever wondered why bridges rarely crumble? π
No, it's not just about luck. It's strategic design and forward-thinking.
π Engineers incorporate a 'margin of safety' into bridges. This ensures they can withstand more than the average load, accounting for those unexpected times when demands exceed the usual.
So, how does this apply in our lives?
π When we infuse safety margins into our strategiesβlike allowing a few additional days for a project, keeping backup resources, or setting aside extra budgetβit's our way of armoring up against uncertainties. It's our shield against the unpredictable.
But it isn't always possible to build in a margin of safety. There's a tradeoff: every cushion of safety has its price. It might translate to increased costs or a longer wait.
When planning ahead, ask yourself: Have I got a safety net, or can I create one? π€
Reflecting on this might just guide you to a smarter strategy.