Forums: Discussions for entrepreneurs and small business.

is taking a chance based on a feeling one has, or is it based on facts, or is it a little of both. just wondering

People take chances on analysis, feelings, and intuition. The underlying basis is either faith (will), belief, or conviction (principles).

To take a chance on feelings, I would suggest you get the feeling then let it sit for 72 hours (not less if you can help it). After 3 days, the chemistry in your system will have swept through. If you still have the same feeling, then it might be worth examining.

Risk-assessment uses analysis, more often a better way to take chances. However, we each are more or less "risk averse." As far as we know, our tolerance to risk is initially genetic, but then includes a lot of environmental training as children.

Intuition is different from "feelings." It`s based on subconscious analysis, which is based on actual experience, knowledge, and observation. Telling the difference between a "feeling" and intuition is a skill and can be developed.

It`s a little of both, I believe.