Mitigating risks and taking Risks are two different aspects.

When it comes to taking risks and pursue your calling, Bill Gates is often cited as an inspiration along with Mark Zuckerberg, Elon Musk, and many others.

Dropping out of Harvard to create Microsoft is a narrative that sticks with the masses. “Dropping out” to pursue your dream then becomes a catchphrase.

What we miss out on is “context”.

In 1973 Gates was accepted at Harvard and he was an exceptional student. He discovers his passion for technology and takes rigorous computer science and maths classes.

What happened in 1975 is crucial for his success. Gates decided to take a leave of absence from Harvard to focus on Microsoft. Harvard students can take leave under circumstances that range from concerns about family matters, opportunities for personal and professional development, or the need to spend time addressing a health concern.

With a proven track record, Gates gets a green signal from Harvard.

In retrospect, this isn’t a risky move. Gates was mitigating risk instead of taking a risk. Given the low success rates of new businesses, this sounds sensible. Had his new venture not gained traction, he could have always continued his studies.

Gates worked hard with his childhood friend, Paul Allen to incorporate Microsoft in 1975. Microsoft gained traction and Gates decided to leave Harvard to focus on his company. The rest is history.

We are not privy to the complete context and reality of the successful people who take risks. We see the outcome but we miss the nuances of mitigating risks.

Dropping out of college and quitting jobs seems like a very courageous move. And by all means it is. But when you take inspiration, don’t forget to factor in the contextual reality of the individual. Smart people always have a safety net to mitigate risk before they take the leap.