Very often, you’re trying something without knowing if it will succeed. When this happens, it’s helpful to know if you’re attempting a high jump or a long jump.
A “high jump” means that if you don’t succeed, you land where you started. It’s low risk, in other words. And the cost of the attempt itself is low.
A “long jump” is different. Think of jumping over a gorge to a prize on the other side. Making the jump is worth the effort, but only making it halfway is significantly worse than not jumping at all.
There are many things that are worse to do halfway than to not do at all. If your car needs a tune-up, taking apart the engine to fix it is great if you succeed – but much worse if you either don’t finish or mess it up. On the other hand, trying to repair a broken clock is a “high jump” – if you succeed, great, but you can’t really fail worse than “having a broken clock,” since that’s where you are now.
Take your risks accordingly.
The Opportunity Machine 