Understanding Courage: Values, Meaning, and Leadership

“The singular trait of a leader is courage.” - Naval Ravikant

But why is courage so crucial? The answer lies in the nature of decision-making. Decisions require leaders to lift the responsibility for the outcomes, especially when there are no clear answers or directions. A courageous leader is willing to take bold decisions and persevere through them, even when the risk of failure is high.

As Daniel Kahneman notes, decision-makers tend to be risk-averse when outcomes are favourable, preferring the sure thing over a gamble. However, when both outcomes are negative, they may become risk-seeking, rejecting the sure thing in favour of the gamble. This behaviour highlights the complexity of decision-making and the role of courage in navigating uncertainty.

A hero is not defined by always winning but by fighting against adversity and things far greater than their capacity, risking failure for something meaningful. Courage is the defining trait of a hero. Fear, whether of failure, adversity, criticism, or loss, often holds us back. Courage, on the other hand, enables action. Taking risks means risking failure and falling down, but it also means fighting uncertainty and adversity.

So, what is courage? Is it the ability to suffer pain, or is it something more? Courage is about taking action despite the unpleasant consequences it may bring. It involves being willing to take a loss, with the bigger the potential loss, the more courage required.

Consider Kahneman’s thought experiment: Would you accept a bet on the toss of a coin where you win $130 if the coin shows heads and lose $100 if it shows tails? Courage can be subjective, as the price means different things to different people. What are you willing to bet for what? The higher the meaning and value of what you seek, the greater the courage required. Courage stems from meaning and purpose, from doing things that are meaningful. It is about what you are willing to risk your life for.

In this light, we are all courageous, but not in every situation. Our courage is proportional to the value we place on the things we aim for. No one is more courageous than a mother protecting her child.

What is it that you are willing to bet your life for? Courage is also linked to passion and perseverance, both of which are driven by meaning. The line between courage and recklessness can be blurry. When we take risks for something meaningful, we are considered courageous; when we do it for trivial things, we are considered reckless.

To truly understand courage, we must ask ourselves why. Find your meaning and decide what is valuable to you. Be clear on your values and the meaning in your life. You discover your true meaning and values by seeking understanding and finding your own truth.

Stay curious, seek understanding, and embrace adaptability. These qualities will help you navigate the complexities of life and cultivate the courage to pursue what truly matters.