A Note From Jim
Taking Risks In Business = Rewards
Most people think in terms of “risk vs. reward.”
In business school, one of the first things they teach you is to run a “cost benefit analysis” – which is a fancy way of talking about risk vs. reward.
The thought process is simple: if I do something, do the potential risks outweigh the potential rewards?
For entrepreneurs it often translates into “Can I get rich before I go broke!”
I say that last part with a little tongue in cheek, but it actually hits close to the mark.
The bottom line with this school of thought is that life is a zero-sum game. There is only success OR failure. And when we talk about writing huge checks or spending large amounts of time on something, the risks of loss can be quite real and you should evaluate them diligently.
(Note to self: be careful about leaving a six-figure job to join an MLM. You might end up bankrupt and living in a trailer for 7 years.)
But I like to think of things a little bit differently.
I like to set things up so I can either win, or win big. Succeed or succeed wildly.
I like to set things up so I can lose. What do I mean?
When I’m going to try something new, I look at the minimum benefit of doing something.
What is the least best thing that can happen?
- Will I learn something?
- Will I discover something?
- Will I prove / disprove an idea or hypothesis?
- Will I reinforce knowledge I already have?
Yes, life and business carry risk. And yes, you should weigh the risk vs. the reward, especially when it involves cash and / or time.
But often there are unrecognized or hidden rewards that, if you open your eyes and look, can turn a potential “failure” or risky proposition into one of the most successful ventures of your life.
So next time you’re weighing risk vs. reward, make sure you’re looking at it from all angles.
The hidden rewards might just make the difference!
Speaking of rewards, one of the most rewarding things you can do is to write your own book. We all have a message to share and when you literally “write the book on it” it can change your life and business forever!
I can show you how to write AND publish your own book in a week… I’ve been helping people do it for 20+ years. Get all the details here: https://7dayebook.com/
Featured Article
Have you ever heard the phrase “dance with the one who brung you”? Do you know what this
colloquial phrase means?
If you’re familiar with the American culture, you may have heard this!
It means:
You need to be loyal to the people who’ve been with you since the beginning.
This is also important in your business relationships as well.
Why loyalty in business is a big deal?
7 Day Ebook V3.0
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Letting The Chickens Out with Jim
Every week Jim goes live on Facebook and posts his morning tips while letting the chickens out.
The Word Of The Day Is: Credibility
What’s the risk of NOT doing something?
Risk vs. Reward? Flip the script…
Is today YOUR Independence Day?
Sales Copywriting & Content Marketing Hacks Podcast Recap
We help entrepreneurs sell more with less effort and less stress… no matter what you sell! We cover topics on sales copy, content marketing, advertising, website sales letters, email marketing, headlines, ad writing and more.
WARNING: we are not here to teach copywriters the finer points of copywriting… we’re here to make it easy for normal people to use words and pictures to make more sales and get results. And, we have a lot of fun doing it!
Turning Visions into Reality in Business – SCCMH [Podcast 122]
The Podcasting Podcast – Do You Need One for Business or Fun? – SCCMH [Podcast 121]
How to Price Your Value on Products and Services – SCCMH [Podcast 120]
Business Marketing Inspiration – SCCMH [Podcast 119]
Business in Social Media – The New Email List? – SCCMH [Podcast 118]
To watch more episodes Click Here!
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