Vishen Lakhiani describes downside planning: wealthy people stay calm in high-stakes moments by imagining what could go wrong, then creating solutions for each problem. Most people skip step three, which is why they worry.
Chapters
Does worrying always keep you safe? I had the opportunity to interview a number of the wealthiest people on the planet for my book I Can make youe Rich. One of the things that struck me about them was their sense of calm, even in the face of decisions which could make or cost their companies millions of dollars. When I asked them about it, they each shared their own version of a process they use that's known as downside planning, which essentially works like this. Think about an upcoming event or transaction, imagine all the things that could possibly go wrong with that thing, then come up with a solution for each eventuality. What's fascinating is this what most people call worrying is simply interrupting the process, or downside planning after the second step. That is, people imagine all things that could possibly go wrong, but never get around to creating solutions.