Risk of quitting a 20 year legal career to be an online marketer

May 7, 2019

Let me show you methodically why from a risk management perspective it made sense for me to quit my 20 year corporate law career to learn to market online.

 

One of the questions I get asked a lot is this…

 

Why would I risk my 20 year legal career to become an online marketer?

 

Well, for 20 years I dealt in risk – primarily the transferring of legal risk via contracts between contracting parties.

 

This is how I learnt to look at risk.

 

Risk has 2 components – the probability of a risk occurring and the impact of a risk occurring.  How risky something is, is a function of the 2.

 

So, for example, the risk of flying in plane is the function of, (1) the probability of the plane crashing, and (2) the impact of the plane crashing.

 

Statistically, the probability of a plane crash is extremely low.  However, the impact of that would be extremely high, as most would lose their lives.

 

On the other extreme, let’s look at the risk of an untrained juggler, trying to juggle glasses.  The probability of breaking a glass is high, but the impact of breaking a glass is low.

 

At the risk (no pun intended) of oversimplifying this, the risk of flying is low, because the probability of a crash is low.  Similarly, in the case of the juggler, the risk is also low, because while the probability that he might break a glass is high, the impact of breaking a glass is low.

 

Those risks can be further lowered, or mitigated, by the juggler or pilot being well trained.

 

With all that in mind, let’s turn back to me deciding whether to leave my legal career.

 

In deciding that, I took a hard look at my life.

 

I was missing family moments and all the important things of life.  If I did nothing about it, the probability of me continuing to miss all of those was extremely high.  The impact of that would also be extremely high.

 

Given that both probability and impact were extremely high, that’s an extremely high risk.

 

Therefore, staying in that career would be extremely high risk to my family relationships.  That was therefore no longer an option.

 

Of course learning something completely new would be risky.  But like that juggler, the risk of me failing at it could be mitigated by me being trained.

 

And if I persisted, and mastered the skills, then I would significantly lower the probability of the risk, and hence the risk.

 

I’m glad to report that within 6 months of me starting my online business training, I had replaced my salary, something which would not have been possible, if I had not received the training that I did.

 

Oh, and as final note…

 

Don’t look at me as inspiration, but as evidence that if I can do this, you can too.

 

 

 


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