How much will I lose by NOT taking the risk???
Lot of truisms in your post Michael.
"Act as if!!!" A line I thoroughly enjoyed when hollered by Ben Affleck in the movie 'Boiler Room'. Definitely a must see if you're a 'Wall Street', 'Glenngarry Glenn Ross' fan.
Act as if!
Michael, you mention instead of risking $10,000.00 by investment, to only lay out a few hundred dollars. "Enough, so that whether you win or lose money, it will only be about $50."
One thing I have discovered is, it isn't the amount which is risked at the time. It is the amount you are losing by not having it out!
Typically when gaming and especially at Blackjack (21), I play by a set of parameters which I've set for myself. These include WHEN to walk away from a table in a losing situation as well as a winning situation.
Even though I am at a point where I do not desire to risk my winnings. I am thinking about the money which I am NOT winning! The amount I lay out per betting unit is immaterial. It is the risk/reward factor which keeps pulling me back.
By not running a classified ad, how much income would I be losing. By not making that extra few cold calls per day, how much income would I be losing. By not knocking on a few extra doors per week, will I still qualify for that luxury trip to the Bahamas for the top salesperson???
Successful winners, salespeople, investors, and entrepreneurs are not necessarily tied into the amount which they are risking. It is the amount they are losing by not risking.
A difficult concept to fully understand, unless you are afflicted with it.
I have had buddies go gambling with me, and leave the table. All I have to do is mention to them they are not saving their money. They are possibly losing money by not playing! And BANG! they are back in the seat next to mine!
Great concepts.
Success and Regards... Mike
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