Afraid of Being Wrong and Reputation Risk
Loyalty to risky thinking often leads to significant problems
We know well that some people don’t concern themselves with making poor decisions. That’s just part of the human race that will always be present. Yet there are others that allow risk or fear to overwhelm them in decision making to the point where they settle for what isn’t correct. That’s a problem too.
Ed Latimore (photo above) just wrote about it and it may stimulate your mind.
Let’s take a look first at what he briefly wrote and then briefly discuss it:
Ego and emotional investment.
“If you're afraid of being wrong, you will never have the opportunity to be right.
“When you learn something new, it typically involves either correcting a previous misconception or replacing ignorance with knowledge. Both situations require acknowledging that you were wrong or lacking knowledge in the first place.
“One of the strongest barriers to accepting a good idea is loyalty to a bad one. When an idea has survived without feedback or criticism, the time invested in it can create an irrational attachment. This loyalty to an idea, despite evidence or better alternatives, hinders progress and openness to new and improved concepts.
“Admitting and embracing the possibility of being wrong is crucial for personal growth, intellectual development, and fostering a mindset of continuous learning. It allows for the correction of misconceptions, the acquisition of new knowledge, and the ability to evaluate ideas objectively.”
Here are some takeaways I gained. I’d be interested in yours if you care to share them.
“If you're afraid of being wrong, you will never have the opportunity to be right.”
Uncertainty and accepting risk about what could go wrong is powerful emotion. While caution is wise, an overabundance of it can prevent moving into more positive direction, bypassing mitigating damage and losing the opportunity to avoid trouble all together.
“When you learn something new, it typically involves either correcting a previous misconception or replacing ignorance with knowledge. Both situations require acknowledging that you were wrong or lacking knowledge in the first place.”
Getting comfortable releasing previous misconceptions and ignorance can be difficult on the brain, emotions and psychology. Some people won’t do it or can’t do it. “Danger Zone.” Yet being able to do so is a sign of emotional and cognitive flexibility and that’s an admirable, valuable strength.
“One of the strongest barriers to accepting a good idea is loyalty to a bad one. When an idea has survived without feedback or criticism, the time invested in it can create an irrational attachment. This loyalty to an idea, despite evidence or better alternatives, hinders progress and openness to new and improved concepts.”
Loyalty to a bad (decision) is very common and it’s coupled often with arrogance. Not always, but often and that’s the quickest way to elevated risk.
And if we’re interacting with people who are sharing information that can better illuminate a situation and stay committed to what is clearly or likely a poor decision, we’re going to lose trust, credibility, influence and the ability to persuade as well as have had previously. And guess what else? Reputation and relationships of any kind could eventually, if not soon, end up on the rocks.
“Admitting and embracing the possibility of being wrong is crucial for personal growth, intellectual development, and fostering a mindset of continuous learning. It allows for the correction of misconceptions, the acquisition of new knowledge, and the ability to evaluate ideas objectively.”
Ignorance is not some sort of sin. Believing one is infallible however is a clear sign of weakness. We get ourselves into a lot of difficulty and put our names and well-being on the line when we think, decide and act in this type of manner.
The smartest are those who commit themselves to continuous learning, not only technically in whatever they do but in decision analysis, humility and decision making in all parts of their life.
“Admitting and embracing the possibility of being wrong is crucial for personal growth, intellectual development, and fostering a mindset of continuous learning. It allows for the correction of misconceptions, the acquisition of new knowledge, and the ability to evaluate ideas objectively.”
Notice, “the possibility” and “crucial for” and “allows for the correction…the acquisition…evaluate…objectively.” All these may not be top of mind as being important in our professions, personal lives and in public but they are extremely important in navigating situations, challenges, interactions, tasks and hardships.
Managing risk in all parts of our lives requires the willingness and commitment to examine, test and change our current conclusions and being receptive to learning what is important, different and helpful to become more informed, educated and smarter in making decisions.
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Michael Toebe writes “Reputation Notes” and is the founder and specialist at Reputation Quality, a practice that serves and assists successful people and organizations in further building reputation as an asset and responsibly, ethically protecting, restoring or reconstructing it.
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