Fear Setting

Feel resistance to implement your project? Too many nay-sayers?

Here is what to do

I have implemented this technique a few years ago when dealing with a huge Global project implementation with great success. When I saw it being applied first, I just remained quiet in a room and could absolutely see the difference in the behavior of the ones participating in the discussion. From an angry approach to a conforming one. From reluctant to supportive. And all in a matter of a couple hours only!

Tim Ferris uses this exercise on a monthly or quarterly basis. Most people aim at goals, very few aim at fear. This question allows you to take risks by calculating which mental roadblocks you need to anticipate and figure out how to work around before you encounter them.

Fear-setting tends to be a lot more effective than goal-setting in terms of aiming at something that could change your life.

This exercise happens in three main parts:

Part 1: Definition

• What would I attempt if I could not fail? Take full inventory. Aim for at least 20 items. Circle the top 3 which could have the most impact. Tick the one that is the clear winner.
• What is the absolute worst case scenario that could happen if you did what you are considering? Envision it in painstaking detail. What’s your worst nightmare?
• What are all of the things you could do to minimize the chance of the worst case scenario happening?
• If the worst case scenario happened, what could I do to repair the damage, even just a little bit? Who could I ask for help to get things back on the upswing?

Part 2: Benefits

Now that you have defined the nightmare, what are the probable, expected positive benefits/outcomes? Make a list of the possible benefits if successful or partially successful, whether internal (boost confidence, self-esteem) or external (skills, financial, etc).

What would the impact of these positive outcomes be on a scale of 1 to 10? How likely is it that you could produce a moderately good outcome? Have less intelligent people done this before and pulled it off?

Part 3: Make three lists of the costs of your inaction.

What is it costing me - financially, emotionally, and physically - to postpone action?

If I avoid this action or decision (and actions and decisions like it), what might my life look like 6 months from now? 12 months? 3 years? 

Don’t only evaluate the potential downside of action. It is equally important to measure the atrocious cost of inaction.  

If you telescope out 3 years and know with 100% certainty that it is a path of disappointment and regret, and if we define risk as “the likelihood of an irreversible negative outcome,” inaction is the greatest risk of all.

What are you waiting for? TAKE ACTION and don’t be afraid to dive right in to this fantastic exercise!