Many people subscribe to the idea that to get a high return you must take a high risk, that low risk leads to low return. I think this keeps people poor, because they either lose a lot or fail to make meaningful returns.
In my experience the rich approach risk quite differently and look for asymmetric risk return; low risk, high return.
If you are looking to expand your business, or your finances, I’d encourage you to look for asymmetric risk return; how can you trial that new idea without sinking a lot of money into it?
It takes a little more thinking, but it’s worth it.
Recently I had an interaction with someone in a business I own.
Recently we were making a major decision in MedRecruit for a very important leadership role in the recruitment team.
If you go to almost any personal development or business seminar, the presenters will share stories of failure leading to triumph.
It’s not a shop, it’s not online, it’s not Amazon or eBay or Trademe.
Survival isn’t necessary.
Is it meeting specification?
“You don’t choose the life of being an entrepreneur, it chooses you,” is something I found myself saying to a young entrepreneur the other day.
Dissatisfaction is a common state for entrepreneurs.
Fear of failure is a common reason many people don’t start things.
Failure is inevitable.