Tip 22 - How to Avoid the Winner's Curse
‘Be careful what you ask for, because you may get it.’ This is the Winner's Curse: getting what you want and then discovering it is not what you really wanted. ‘Let the winner beware’ is a way of warning against it.
The winner’s curse occurs mainly because of poorly formed goals or outcomes, and overestimating the value of what we are trying to get.
There is a process that helps prevent and protect against the winner’s curse.
It’s ... <click here> to read the full version.
Contents
Welcome
Quote of the week
Tools & Tips
Humour
Crisp Coaching & Consultancy Ltd,
143 Waltwood Park Drive, Llanmartin, Newport, NP18 2HF Tel: 0870 042 3720
Company Registration Number 05379946
info@ccandc.co.uk www.ccandc.co.uk
Quote of the week:
“It is good to have an end to journey towards,
but it is the journey that matters, in the end.”
- Ursula K LeGuin
There once was a moth that fell in love with a star.
All his friends and relatives mocked him, told him he was being unrealistic, and urged him to focus his efforts on some local, possible, attainable goal: a streetlight, a porch-light, a candle or a lantern. Even traffic lights, if he must.
But our moth was in love with his star and he would not give up.
So while all his pals, parents, sisters, brothers, cousins and
aunts soon burned themselves out - around the local, ready-made luminaries, winding up as charred bits of ash on the pavement, the porches, the floors, streets and tables of the town - our moth (although sometimes out of breath from soaring to great altitudes) enjoyed a long, happy and healthy life in endless pursuit of his limitless star.
Moral of the story: to 'reach for the stars' by having an ambitious goal, can actually keep you safe, sane and healthy.
Humour: The Moth Who Fell in Love with a Star
