I’ve come to realize that this is true: every successful person I know took a significant risk at some point in their life. This happens because there’s always some level of uncertainty when chasing new opportunities. Whether you’re aware of it or not, you’re already taking risks in your life. For instance, if you’re stuck in a 9-5 job you dislike and not pursuing your passion, you’re risking the chance to live the life you truly want. On the other hand, if you choose to pursue that passion, you’re risking the stability and security of your current income. So, what’s the bigger risk for you—settling for complacency or facing potential regret?
Although taking chances might be profitable, you should always evaluate your risks and consider hedging your bets.
Survivorship bias would have us believe that big risks are how you receive the big rewards, which is true to a degree, but risks can go wrong leaving you worse off than you were before.
Just keep in mind that you should never bet with money you are not willing to lose.
It’s true that failure may hurt, though. My dad is having financial difficulties and is on the verge of filing for bankruptcy. Even when you follow all the correct procedures, bad things can still happen. When people like him fail, it serves as a sign to those who work a 9–5 job that they are making the proper choice. Some people cannot bear the thought of losing everything and not knowing how they will pay for their daily food.
I’m sorry to hear that:(
Would you please tell us what your father did and what lessons we may learn from it?
If you must pay a high price for your chances, at least venture on something worthwhile!
This is perfectly manifested, but to be more pragmatic, as u/Zealousideal_Tour163 pointed out, 99% of businesses fail, and even fewer manage to turn a profit over an extended period of time.
Although the message is encouraging, playing the lotto and winning is also a fantastic idea. Never invest your life money in it.
Or else you’ll be superior to 90% of those who tried and failed, unlike the person who employed you. Bias towards survivors.
I get what you’re attempting to say. However, not everyone is cut out for entrepreneurship. Some folks can tolerate the danger. In the worst situation, you return in search of employment. For some, the risk is unmanageable and catastrophic because of incapacity or unanticipated financial repercussions. Having saying that, use caution whenever you decide to take a chance.
In actuality, humanity only exists because of this one group of people who moved to a new, unknown region after deciding that the well-known icy land was not a good location to live.
Additionally, each lottery winner purchased a ticket. What if choosing mediocrity above extreme risk in order to achieve unlikely achievement increases the likelihood of a happy life? That would be the greatest regret.