In the last few pages of this Ben Carson’s book TAKE THE RISK, Dr. Ben in seeking to address societal inequality and money problems advocated for the use of electronic money and the abolition of currency. He said it would be better if we all had implants in our hand and all our financial transactions are done through that chip implant. He argued that this would make life easy and the government would be able to really identify those in need and help them through social programs, health care, tax exemption etc. and these thoughts were placed in the last few pages of his book so that if you aren’t a careful reader you’d skip them.
Now up until this part of the book I enjoyed this book so much. I take a lot of risk – personal risks, business risks, mental risk (by exposing my mind to different types of knowledge and ideas). So when I saw this book on risk I was like ‘yeah, I would love to push myself even further and take more risk’ so I bought it back in October 2020.
Let me just summarize the book for you NOW. Ben Carson came up with a system for analyzing risk. He said that this risk analysis principle can be applied to any kind of decision you want to take and any kind of dilemma you are faced with. Its actually a simple risk analysis system that everyone can use everyday. So simple. He called it the Best Worst Analysis (B/WA) Formula. This formula comprises of 4 question you should ask yourself when you are about to take a seemingly risky decision.
1. What’s the best thing that can happen if I do this?
2. What’s the worst this that can happen if I do this?
3. What’s the best this that can happen if I don’t do this?
4. What’s the worst thing that can happen if I don’t do this?
This Best Worst Analysis (B/WA) is easy to memorize and use on a day to day basis.
In the first few chapters Dr. Carson tried to establish that there is risk everywhere and everyday we face risk. He gave different American based statistics ranging from your chances of getting an illness, your chances of dying in a bathtub, your chances of being struck by lighting etc. But he pointed out that your risk is dying is 1 to 1 which mean it is certain. You will die one day, the mode irrespective. Like we say in Nigeria; All die na die – meaning death is death, irrespective of how.
Risk is unavoidable. When you go out, when you use public transport vs when you use your own car. When you eat there’s risk in the food, there’s risk in the air we breath in every industrial city. Even if we decide not to go out and stay in bed all day to avoid risk, even then we face some health risks associated with lying down for too long.
Let me not even come to our country Nigeria. Nigeria alone is a risk, the country is causing risk, the country is at risk, the citizen are at risk of all sorts of bad things. Being a Nigerian living abroad is a BIG RISK. In short we eat, sleep, bath and drink risk in this country.
Everybody needs to understand this B/WA formula. Government officials, teachers, doctors, business owners etc.
You as an individual might not be able to use this best worst analysis to mitigate the risk of the entire country but you can use it in your own sphere to analyze the risk and decisions you take everyday.
Imagine if everyone ask themselves these B/WA questions before they take decisions. Politicians and government officials asking themselves the best worst analysis questions. School teachers and university lecturers asking themselves what’s the best if I do, what’s the worst if I do, what’s the best if I don’t and what’s the worst if I don’t? I mean it would change a lot in our country.
As someone that is beginning to build businesses, I have started applying this best worst analysis to the business decisions I make. You see, the B/WA analysis can’t remove risk totally, what it does is to give you a clearer picture of the situation at hand. And when you understand a situation better, you can make a better decision. So at its best, the best worst analysis formula reducing your chances of making a bad decision.
This is just a summary of what the book is about at its core. The book contains much more information and I advice you go pick of a copy and read for yourself.