synchronized this just wink at me yeah
why why is that haha ah Jesus Christ
this way I works weird good morning
believe nation today’s message is
minimize risk over to you Manish pobre
people think that entrepreneurs take
risk and they get rewarded because they
take risk in reality entrepreneurs do
everything they can to minimize risk
they are not interested in taking risk
they want free lunches and they go after
free lunches and so if you study on any
number of entrepreneurs from Ray Kroc to
you know herb shorts at starbucks and to
even even Buffett and Munger and so on
what you’ll find is that they have
repeatedly made beds which are low-risk
beds which have high return
possibilities so they’re not going high
risk high return they’re going low risk
high return and even with Bill Gates for
example the total amount of capital that
ever went into Microsoft was less than
50,000 between the time it started and
today that’s the total amount of capital
that went into the company so Microsoft
you cannot say was a high-risk venture
because there was no capital deployed
but it had high uncertainty Bill Gates
could have gone bankrupt or Bill Gates
could have ended up the wealthiest
person on the Forbes 400 and he ended up
at the extreme end of the bell curve and
that’s fine but he did not take risk to
get there he was comfortable with
uncertainty so entrepreneurs are great
at dealing with uncertainty and also
very good at minimizing risk that’s the
classic great entrepreneur so what do
you think I think that it’s interesting
the way he defines minimize risk he
defines as they it was a low risk high
return kind of thing I think the way
that I see risk personally is of any
kind of uncertainty is
specially when all the people around you
think it’s not a good idea so I think
that as entrepreneur is someone who
wants to go out there open a restaurant
start a clothing line even if you have
all the investment the risk is you’re
taking a chance you can be you know
usually you’re going out of your comfort
zone sometimes you’re going out of your
profession profession leaving your
full-time job to risk something even if
you have the capital that financially
you will be secure for the next little
while the risk is that out of the
comfort zone and trying something new
for me I preach this a lot on the
channel I don’t believe you should
invest your money into the stuff I don’t
want to see invest your hustle your
energy you know I hate I hate so much
seen entrepreneurs mortgage their house
cash in their retirement savings to go
all in on this business idea that they
have because I’m going to sell alligator
t-shirts and they’re going to be amazing
right and then and then it doesn’t work
right that sucks right and so I would
say that to minimize your risk you’re
not putting your dollars in but you’re
investing your time your energy your
hustle to try to make something work
right like you it may take you a little
bit longer to get to where you go but
your chance of success go up
dramatically because you only get one
shot if you’re going to cash in your
life savings and you can never be sure
that this is going to be the one to go
to the other way that I talked about it
too is I don’t think you should quit
your job and go full time on your
business I’m a big believer in certain
the business part time started on the
side ideally you have a job where you’re
learning and getting paid to make
mistakes you’re getting mentored go work
for a company where you feel like you’re
going to learn not just for a paycheck
but you’re you’re developing and growing
yourself and then start your business on
the side and when your side business is
making enough moneys for you to survive
not not like go buy Lamborghinis but
survived like I compared the internet
and I can pay my food bills right and I
can you know Alex in by his protein
shakes and right survive then you can
quit your job and go all in on your
business because too many people quit
their job too soon and then three months
later they realize I’m out of money I
got to go back and get a job and so I
think for me what I take from it is the
financial ristic I will invest insane
amounts of love and energy in the up
till
four in the morning working on something
trying to get some project off the
ground it may never ever get there but
I’m not investing my dollars into
anything until I’ve shown that I can
earn so I proved yourself you can make
money before you start spending it so
the question today today is how do you
define risk interesting leaving the
comments below will join the discussion
thank you so much for watching have an
amazing day continue to believe and
we’ll see you again tomorrow morning for
another shot of espresso okay
why why is that haha ah Jesus Christ
this way I works weird good morning
believe nation today’s message is
minimize risk over to you Manish pobre
people think that entrepreneurs take
risk and they get rewarded because they
take risk in reality entrepreneurs do
everything they can to minimize risk
they are not interested in taking risk
they want free lunches and they go after
free lunches and so if you study on any
number of entrepreneurs from Ray Kroc to
you know herb shorts at starbucks and to
even even Buffett and Munger and so on
what you’ll find is that they have
repeatedly made beds which are low-risk
beds which have high return
possibilities so they’re not going high
risk high return they’re going low risk
high return and even with Bill Gates for
example the total amount of capital that
ever went into Microsoft was less than
50,000 between the time it started and
today that’s the total amount of capital
that went into the company so Microsoft
you cannot say was a high-risk venture
because there was no capital deployed
but it had high uncertainty Bill Gates
could have gone bankrupt or Bill Gates
could have ended up the wealthiest
person on the Forbes 400 and he ended up
at the extreme end of the bell curve and
that’s fine but he did not take risk to
get there he was comfortable with
uncertainty so entrepreneurs are great
at dealing with uncertainty and also
very good at minimizing risk that’s the
classic great entrepreneur so what do
you think I think that it’s interesting
the way he defines minimize risk he
defines as they it was a low risk high
return kind of thing I think the way
that I see risk personally is of any
kind of uncertainty is
specially when all the people around you
think it’s not a good idea so I think
that as entrepreneur is someone who
wants to go out there open a restaurant
start a clothing line even if you have
all the investment the risk is you’re
taking a chance you can be you know
usually you’re going out of your comfort
zone sometimes you’re going out of your
profession profession leaving your
full-time job to risk something even if
you have the capital that financially
you will be secure for the next little
while the risk is that out of the
comfort zone and trying something new
for me I preach this a lot on the
channel I don’t believe you should
invest your money into the stuff I don’t
want to see invest your hustle your
energy you know I hate I hate so much
seen entrepreneurs mortgage their house
cash in their retirement savings to go
all in on this business idea that they
have because I’m going to sell alligator
t-shirts and they’re going to be amazing
right and then and then it doesn’t work
right that sucks right and so I would
say that to minimize your risk you’re
not putting your dollars in but you’re
investing your time your energy your
hustle to try to make something work
right like you it may take you a little
bit longer to get to where you go but
your chance of success go up
dramatically because you only get one
shot if you’re going to cash in your
life savings and you can never be sure
that this is going to be the one to go
to the other way that I talked about it
too is I don’t think you should quit
your job and go full time on your
business I’m a big believer in certain
the business part time started on the
side ideally you have a job where you’re
learning and getting paid to make
mistakes you’re getting mentored go work
for a company where you feel like you’re
going to learn not just for a paycheck
but you’re you’re developing and growing
yourself and then start your business on
the side and when your side business is
making enough moneys for you to survive
not not like go buy Lamborghinis but
survived like I compared the internet
and I can pay my food bills right and I
can you know Alex in by his protein
shakes and right survive then you can
quit your job and go all in on your
business because too many people quit
their job too soon and then three months
later they realize I’m out of money I
got to go back and get a job and so I
think for me what I take from it is the
financial ristic I will invest insane
amounts of love and energy in the up
till
four in the morning working on something
trying to get some project off the
ground it may never ever get there but
I’m not investing my dollars into
anything until I’ve shown that I can
earn so I proved yourself you can make
money before you start spending it so
the question today today is how do you
define risk interesting leaving the
comments below will join the discussion
thank you so much for watching have an
amazing day continue to believe and
we’ll see you again tomorrow morning for
another shot of espresso okay
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