Brad Fried’s journey is a testament to the power of risk-taking and the courage to step out of one’s comfort zone. As a young accountant in Cape Town, he made a bold decision to call Jim Wolfensohn, a renowned figure in the financial world. This audacious move set the stage for a career filled with remarkable achievements, including leading Investec Bank in London and serving on the board of the Bank of England.

Throughout the episode, Brad emphasises the importance of silence in decision-making. He believes that asking the right questions and guiding discussions can lead to more effective outcomes than simply making statements. This approach fosters a culture of collaboration and cognitive diversity, allowing different perspectives to shape the decision-making process.

One of the key takeaways from the episode is the significance of understanding the counterfactual – considering what might happen if a decision is not made. Brad shares that the greatest risk often lies in not taking any risk at all. This mindset encourages leaders to embrace uncertainty and view mistakes as opportunities for growth and learning.

The episode also highlights the art of collective decision-making. Brad explains how he navigates complex discussions, ensuring that all voices are heard and valued. He believes that the most challenging individuals in an organisation often bring the most valuable insights, preventing groupthink and fostering innovation.

The discussion reminds us that no one has all the answers, and the journey of decision-making is an ongoing process of introspection and adaptation. Even someone as accomplished as Brad Fried considers himself a work in progress, continually seeking to fill gaps in his knowledge and broaden his perspective.