How to take risks in life | Sayak Boral | Skillshare

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

9 Lessons (1h 34m)
    • 1. How to take Risks in Life - an Introduction

      5:07
    • 2. The Nature of Risk

      12:42
    • 3. Leaving the Comfort Zone

      15:05
    • 4. Blind Risks vs Calculated Risks

      10:25
    • 5. Step 1 - First Raise the Stakes

      9:23
    • 6. Step 2 - Brace for Impact: Protect yourself in the event of a Crash

      10:10
    • 7. Step 3 - Go for the Finish

      8:30
    • 8. How to Manage Financial Risks

      11:43
    • 9. How to Convince Others to take a Risk on You

      10:44
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About This Class

I am a marketer for technology firms and a personal development coach.  

In this course, I’ll walk you down through a unique step by step journey where you will be able to groom yourself for better risk-taking. All things being equal, the ability to take calculated risks in each and every endeavor of life, eventually spells the difference between winners and losers, doers and talkers, the haves and the have-nots! 

Some of the learning outcomes to be gained from this course include: 1) Developing an entrepreneurial mindset 2) Growing out of your comfort zone in order to explore your bravest ideas 3) Getting rid of your inherent fears and the habit of second guessing 4) Stopping procrastination, once and for all.

There are no strict categorizations, per se, but the flow of the lessons progress from Beginner's to Intermediate and Advanced levels. It would be real helpful to follow the tutorials sequentially to gain maximum benefit out of this course. Also, there are a few simple exercises for you in the Project section to apply the lessons learned.

BEGINNERS TUTORIALS

L1 - An introduction to risk-taking: This lesson gives a brief overview of what this entire course is all about. The Universe loves risk-takers. So, when you listen to your gut instincts and take bold steps forward, you successfully align yourself with the flow of the Universe. 

L2 - The nature of risk: This lesson goes into the heart of the matter: what risks are all about. It starts with a simple discussion on self-confidence and how deeply is it connected to important risks. Most of us agree that growing our self-confidence is necessary but all the negative self-talk we have been accumulating in our brains due to primal fears, stands as a stubborn obstacle. I will teach you a very simple analogy so that you can destroy those primal fears for good. 

L3 - Leaving the Comfort Zone: There is no doubt in anyone's mind that staying in the comfort zone is the biggest enemy of risk-takers. This tutorial will help you erase any lethargy that prevents you from making efforts in the right direction. The Reptilian brain (described simply as the "dinosaur" in the tutorial) traps you in the comfort zone by creating unnecessary fears which have no basis in reality. It's time your adult (human) brain took over the reins. Analysis paralysis is the last thing you need. 

L4 - Blind Risks vs. Calculated Risks: The very word "risk" can have negative connotations as many people associate the term with a mad dash attempt at glory, devoid of practical consequences. Nothing could be further from the truth. In this tutorial, you will learn the exact technique to separate calculated risks from blind risks, and take informed decisions based on facts and new visions. 

INTERMEDIATE TUTORIALS

L5 - Step 1: First, Raise the Stakes: This tutorial is the first step in helping you build a conquering mindset which attracts positive vibes and start creating circumstances which are conducive to risk-taking. By the end of this tutorial, you will be able to apply a healthy amount of risk in everything that you do.

L6 - Step 2: Brace for Impact: Protect yourself in the event of a crash: Failures are  the stepping stones to success. It's not very comforting though when your pursuits lead to a dead-end. How do you keep yourself positive when you've hit the rock-bottom? Or is there even a concept like that? Rock-bottom is really a state of mind. By preparing for unsavory situations, you will bounce back as quickly.

L7 - Step 3: Go for the Finish:

This is the last step that helps you develop a Winner's mindset so essential to risk-takers. Executing the risks you undertook methodically requires a steely determination and a positive vibe. By the end of this tutorial, you will essentially learn where to look for inspiration in order to whet your appetite for success.

ADVANCED TUTORIALS 

L8 - How to manage Financial Risks: Money matters. In this advanced tutorial, you will learn how to apply the previous lessons to the financial domain. The aim is to help you create a mindset with some successful strategies borne out of personal stories. You will never look at money the same way again! 

L9 - How to convince others to take a risk on you: We're all surrounded by naysayer's and doubters. Unfortunately, they may also be your partners, friends and family members. People whose involvement you need in your plans. So, they aren't really convinced? This tutorial will help you bring them on-board with your risk-taking enterprise. 

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FAQs

Q1. What is the whole purpose of this course?

Ans: This course is a brazen yet sincere attempt at quantifying the exact techniques you need to succeed with any worthwhile risks in your personal and professional lives.

Q2. Who is the intended audience?

Ans: As mentioned in Lesson-1, I originally wanted to create a course on risk-taking for business executives i.e. sales and marketing professionals. They are the audience I’m mostly familiar with. Having prudently observed their work dynamic all these years, I came to the defining conclusion that most failed deal closures could be eventually traced back to someone’s risk aversion. Think about it. All those weeks and months of hard work in vain just because the fear of uncertainty suddenly started outweighing the potential positive outcomes. I was motivated to create a course to help business executives take the next leap forward in crucial moments, by getting in tune with their inner risk-taking ability.

As I started creating the course materials, I came to the realization that the contents would equally benefit almost anyone with an open mind and a deep sense of introspection. Even if you’re a scientist, engineer, educator or student, you have to tackle risks and uncertainties in your own ways. That is why I have broadened the scope of this course to cover people of all ages and backgrounds.

Q3. What risks have you personally taken in your life to qualify you as an authority on this subject?

Ans: This is the whole point of this course. You don’t really have to be a skydiver (although I’d genuinely love to learn that skill one day because I have a tremendous fascination with heights) or a Marvel comics superhero to qualify as a risk-taker. I’m referring to basic risk-taking abilities which are innate in all human beings. More on this in Lesson 2.

I do enjoy the thrill, high’s and lows of a risky enterprise and have directly taken a lot of risks myself. Some paid off really well. Some didn’t. I have been diagnosed as an “adventurous personality type” in the Myers-Briggs test. I do enjoy travelling abroad, and have a strong aversion to conformity. But, really, my personality type is irrelevant to the discussion.

What I have extensively argued in this course is that risk-taking is not the exclusive domain of certain “personality types”. For some people, the very definition of risk carries negative connotations associated with gamblers, hustlers and stuntmen. This is not what we’re aiming at. Our individual experiences and requirements shape our essential need for risks that can be applicable to our everyday lives. As I just said, not all of us desire to be skydivers.

Q4. What external sources you referred to design this course?

Ans: Though not directly mentioned in this course, Aristotle’s Nicomachean Ethics has been a strong influence in Lesson-4 where I clearly delineate the boundaries between calculated and blind risks. In his famous classic, Aristotle has provided guidance on tackling any decision in life by referring to what is known as the Golden mean, an abstract idea that helps you understand the fine differences between the excessive and the inadequate.

Applied to our course, the Golden mean would suggest that a person who tends to avoid any risks, would greatly benefit by expanding their comfort zone. At the same time, someone who takes way too many risks, perhaps, needs to slow down a bit and wait for a clearer perspective to emerge.

I also had to study Sigmund Freud who in his psychoanalytic theories, covered a lot of ground on death drive, a self-destructive instinct common in human beings. This mainly refers to a personality type which is obsessed and consumed with risky acts of daredevilry. Throughout my course, I have attempted to clearly separate our discussions from such ideas.

Q5. What makes you so sure that your methods on risk-taking will work for me?

Ans: I truly believe that all human beings have seemingly infinite capabilities in taking measured risks to better their lives. This is something deeply embedded in the human DNA, a point that has been settled from an evolutionary perspective. See Lesson-3.

This course has a personal touch and will resonate deeply with all learners. I have weaved in a number of allegories and code words to drive home the central message. For instance, marshmallows in Lesson-1, dinosaurs in Lesson-3, fighter pilots in Lesson-6, and examples of great risk-takers from history such as Don Quixote in Lesson-4 (that’s fictitious, and for comical effect in this course!) and Alexander the Great. Wherever applicable, I have brought in real life anecdotes and my own personal stories.

Q6. I am risk-averse, and always like to play it safe. Is this course really for me?

Ans: What could be wrong is your definition of risk. I’m here to challenge your thinking. The simple fact that you learned to crawl, walk, jump and speak words as a toddler means you took risks at some point of time in your life. You’re more risk capable than you like to give yourself credit for.

It’s time to shatter a few myths you hold about yourself.

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Meet Your Teacher

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Sayak Boral

Your mentor on risk-taking.

Teacher

Hello. I am Sayak Boral. My first name means "Arrow" in Sanskrit symbolizing direction, force, movement, power and direction of travel.

I am a media communications professional and avid traveller having been to many countries.

I have a course on managing risks in life. Taking risks is deeply encoded into the human DNA. My vision is helping people get in touch with their inner Mojo and pursue excellence in whatever brings them happiness.

 

See full profile

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Transcripts

1. How to take Risks in Life - an Introduction: the ancient dives to the morning eating wrists in life has separated the duo's from the top of the Venice from the losers. I'm gonna take your down fascinating step by step judge. Very you love have wet your appetite for risk. No other parts on this subject. Risk is the only way you're able to seize the biggest opportunities in your life. Maximize your chances of winning. And we feel your true potential business the only way you can be one of the universe because universe loves speak on decisive. I'm sorry for your major and guide in this journey on self discovery. What I'm arguing is that risk is inherent in human nature, deeply encoded in the human brain passed down to us across hundreds of millions of years of evolution. I draw extensively from my own personal experience in life in risk taking. How many benefits can you think of this as a little bit of warning? Though this is a personal development course not intended to serve as a risk management advice. If you're looking for some advice on how to manage risks in your finances, job career or even your personal life, then you need to see the appropriate counselor. Although I have touched quite a bit on managing your financial risks, you must definitely check out those sections. It would be really helpful to go through all the tutorials one by one. Grab it in tomorrow. There are also some practice tutorials for you to apply the lessons and risk taking into your own life. The idea is to reinforce the message. So who is this course made for? To be fair, I had initially designed this course for sales and marketing people taking risks and bringing business is for trying. That was the original thing. As I started doing my research, I came to the realization that this course can benefit almost anyone with an open mind. All you need is an open mind and a deep sense off introspection. It will serve as a tool off self reflection because I would be kind off holding a mirror to you. The first few lessons, Dean, that philosophy off risk the very nature of this which is inherent in all human beings. No matter how this Evers you think you are taking risks is fundamental to human nature. Taking risks is what has helped in the evolution off more human beings as infants, we learned how to crawl out, walk out, run all of those things. Game with a little amount of risk. We were dealing with the unknown and answered as Edward King. Most of us lost touch with their inner child that true potential inherent in all of us. But believe me, it's like drops over 24 karat gold. You just need to dust it up and you will be a new person game. Take risks in life and fulfill your true potential. Take risks in life, and then whatever your heart desires, you have unlimited protection. Universe loves it when you cease that potential by taking some serious risks in that blind risks and got Blake interests a world of difference between the two. Taking this baby based on informed decision is absolutely essential. The let's come down to the definition of risk as applied with scores. It is I don't mean a mad dash at glory. No, By risk, I mean a calculated, informed decision making process which could make a really tangible and meaningful impact in your life. Redick. Examples of some more seasoned business grows, no matter what your profession is, taking a little amount of risk and spell the difference between success and failure to satisfy your curiosity and stoke your risk taking appetite further. Let's move on. 2. The Nature of Risk: to stop and talk to you about nature from his speaking. And how does something deeply embedded into the human braids as human beings, we all have a seemingly unstoppable ability. Take risks in life and fill it with enormous potential. What I'm going to you is that risk taking is so in age to us. It is such a second nature that we cannot do a limit it any more than we can doing Breathing. Jack French, the famous ex CEO of General Electric, is not the first name that comes to my mind when I think of the full list in 1999 which was named manager of the century. There are so many reasons why French WAAS really respected by friends and foes alike, even those who didn't agree with his methods jack single handedly transition General Electric from an innovation company, one of the largest corporate entities in the world. But 400,000 price to encounter. That's an impressive figure, one of the major reasons behind G's phenomenal success under the stewardship off Jack Village. Well, something goes six Sigma quality Program of change in Houston, focusing on raising the box in terms of quality and bringing across the board accountability and team work. Six. Sigma Model was a runaway success for the company and played a major role in its growth across the years. Somebody, the G was perhaps the first organizations in the world to revolt. This sticking behaviour, instead of being the standard incorporate direction, was seen as a key instrument to success at the time for implementation. Jack, with 60 month quality around what's seen as a major risk for your position. But it did pay off in the long run. The reason I brought up Jackie well, just because one of his personal thoughts on listing in GP resonates it's autobiographical book. Strengthen that which credits his mother with instilling the risk taking behavior in him from the child. It's the court, perhaps the greatest single gift. She gave me more self confidence. It's when I looked for and trying to build in every Executive West ever worked with confidence, gives you courage and extends your reach. It lets you take greater risks in life in a chief Farmall than you ever thought possible. I'm cold. If you look at examples of successful people anywhere, there is a direct correlation, being self confidence and risk taking ability. What I mean, other gods and think off seven, Steen said. What I said it because he do this do require a certain amount of such confidence in life to succeed. Most people would rather staying the one comfort zones and refused to admit that the true potential is vast, like the ocean. Isn't it really sad that by avoiding risks, most people are? I would rather submit to their innate fear off rejection, potential embarrassment or failure. Then being challenges head on and do something meaningful. Taking risks leads toe a great amount of internal self. It's about, says development evidence and risk taking go hand in hand. There's no denying how vital it is to our future success. Confidence is a state of mind. It can fax or green, depending on How are your feelings about your life isn't born. You need to feed positive and optimistic at all times by writing here is that all the self confidence you need in life is right here in you. You can never drain this vast, endless ocean. You can draw on it as much as you want. Self confidence is really another word for word. The world is your oyster. You can never empty from the well of self confidence. No matter how much you draw from and you visualize yourself confidence, you should try to visualize it as a symbol for over abundance for my But I have taken go a sweet tooth. So I really like to visualize self confidence as a blade full of marsh mills. Now that's a beautiful top fury. That's my posting symbol for what? Abundance. There is no scarcity, all mine for the taking. Whenever I don't very well, how much? Ever as you can see the problem Really nice. That set what you did your subconscious mind. So if you keep telling yourself these negative self girls like, oh, should I approach the client or No, should I wait for the permission off my supervisor? Maybe I shouldn't raise complain about the shoddy service I received at this Compare. I think it's better that I keep quiet thing. It's OK if they overcharge this time. I would be more careful next time. I didn't want to be seen as an offensive person. Mr. Spencer is busy. He doesn't want to see you, but it can wait. He's a far busier a person. You are out. I often wonder when we learn all this negative self talk in this devotion to risk taking, it's somehow sounds very pre programmed, something that is on auto pilot, and we just can't help it. The other day I had an intellectually stimulating discussion with a friend of mine who has an advanced degree in giant psychology. He told me something which deeply resonated, and I think it is meaningful to our for the discussion. Some of its ideas made a lot of sense in terms. All why we, as human beings have such a risk versus attendance, we really have to work hard to come out off our comfort zones. As expected, the root of the problem goes back to our respective child's physical and emotional challenges We face as jobless has shaped the really brooch videos risks in our lives. Let me get it as dauntless. We all have been very avid risk fingers. The fear of the unknown or the uncertain was not a big B for us back then, as it is now, we used to try it best in the glory off risk and learn new things. That's how we learn how to crawl to four run as small Children were explored the world around us in our own little base. It wasn't this stage that you really learn to put yourself out there doing whatever it took Kroll to go toe run, you needed to learn it. And that is what you did was beyond our reach. Human brains don't really stop growing, so I have suddenly developed this aversion to risk. So don't give me that. I've never taken risks in my life because I know by as an L you deserve all the success in your life. By taking the right amount of risk, you must take risks more off whatever you want in life, money, Better job someone especially in your life. Everything is up there for the taking. Believe it's really all out there. It's your job to go and get it. After taking a little amount of risk again, I think this this you just basically I have no choice. I have no choice. So if you have any remaining lingering doubts that do you have in a ability to take risks is risk taking second nature to you, I would suggest looking to your own soul for an answer because right from the very inception you have, do you think this is an example? It was for all of your time when you fought like 400 million sperm cells you raised ahead of them. Go on and become the conqueror, become the person that you are to stay. And now you want to be a chicken. Your life is supposed to be filled with glory. And George, you are off your own destiny. You could not understand what it takes to crawl for around as an incident did not mean that you did not be a risk at that point of time to learn those very skills. Similarly, as there's nothing beyond your reach, there's nothing that you cannot apply yourself into. There's nothing new that I can't repeat it enough. Taking risks is deeply encoded in human DNA. It has something to do with a portion off brain, which is known as neocortex. It takes year off crystal thinking it's new part ICS, which weighs trade offs and risks. Our human brain is capable off pulling us out uncertain situations by using the factual learning it has bean storing all these years. It is very much more than we give it credit for. Imagine being apparent whose skill is trapped in a building which is under fire. Not a very pleasant saw. But it's this man what you wouldn't do to rest you, that child. I mean, you would be willing to pay a lot of risk. Our human society. There are huge payoffs to taking risks in life, and not just in the case off life and death situations. There are so many benefits to taking risks in life sample just a few of them. Getting your mind ready for risk enables you to seize theater. Fortunate. Even it strikes as calling Fadel would have said in the movie and examine, which happens to be one of my favorites. Fortune. Fearless, bold making the right impression. Taking risks helps you develop a proper free off mind, which helps you impress the right people when they come to your life. Think of any dynamic individual that you personally know what it's about really cracks. Is it The magnetism is a domain speak? Is it the way they behave? No. Is something dangerous out there? that really is appealing reason for their huge success in whatever they do is their willingness to put themselves out there in those Stevie situations out comforts reason they're successful, so successful is because, fortunately, gain striking they were ready for. It's not a zero sum game, but having a competitive mindset is very natural to us. A few things, if you ask. Putting all the religious dogma aside, the biggest purpose we have as human beings in life is to win. Reading is second nature to all of us. I would say something ready, Deep rooted hot. Bring here my closing remarks. You cannot really achieve the life of your dreams by playing it safe all the time. I cannot imagine living a life without risk, can you? 3. Leaving the Comfort Zone: I can't even begin to tell you how much you must dislike these two words. How you define your comfort to me. It is anything which makes you claim to your past habits which makes you feel safe, reassure and really comfortable. Do you go for table for your own good? Deep down your brain really hates it when you feed it the same comforting instructions over and over again. Someone So it goes in the violent mood every time a similar situation like this presents itself. I don't really enjoy. After all, I'm an Inter would not like the other people out there. Everyone is gonna be nasty do I don't want to raise my voice at the meeting. Let someone else do it is really making me now was count me out to drive the message I got beat it Comfort zone and cool things in life are a pair of disjointed sense that no elements and going here. If you really want to get out of their comfort, you must be really declared for made a resolution that I have recognized the comfort zone as any me it really is, and I'm going to do everything I can to get out. Visualize the comfort zone, bitch. This an average going law, the holes that states that if you find yourself in a ditch, the least thing you can do is not big any further, because that will pull you inside the bitch. So comfort zone is really something that is pulling your deep inside and need to stop giving any further. You must know, make a stand and growing out of this ditch right now department to find your mentality in this indecision, as if your life depended on it. Instead, off the comfort zone. Start falling in love with the unfamiliar and uncertain. Discussed how as a child, I used to know a list for what ISS mentally stimulating. That's how you learned how to Pearl fault, right? No challenge was too big for him. Yet something happened in between. It's got Adam. Is that phase in which made you repudiate your sense of self. It's somehow convinced you that you really don't have what it takes to get to comfort. Seek risks on thrills. Mark my words. It just points down to some conflicting emotions. It's like draw us over. Would you just need to dust it off and started. Desire to get yourself freed from the comfort zone is very donating. Still, the same person you always used to be. I hope by now we have been able to establish that if you really want greater fulfillment in life off risk, then you need to get out of the dreaded. It's not a question why it's a listen off win and how so. We're gonna discuss how right now, in order amounts of how we really need to understand how the human brain interprets risk. To understand this, we need to get a little into the actual structure of the brain from in evolution standpoint , the human bring as three chambers the base on a European bring, which is everything below the neck, primarily dealing with your basic senses. Hunger, thirst, smell and all the primal fears about it is a 1,000,000 brain 1,000,000 brain is responsible for reproductive functions and higher level feelings and emotions. Fine, that is the human brain, the human brain on the neocortex. This is a section of the brain which deals abstract sorts and critical reason. The human brain is the highest contrast the human brain with reptilian creature, which is everything to do with fear. While fear is absolutely essential when you're dealing with a life threatening situation, the problem in the activity in brain is that interprets all situations, all uncertain situations. In a matter of how my day may seem to you as a life threatening situation, listening to the reptilian brain can be a disaster for this papers. My package isn't right. Maybe someone stole it. This restaurant so expensive, I can't afford it. Let me get out of here. She hasn't called back. Maybe she doesn't want to talk to me anymore. The morning listen to European grain in the morning to convince you to stay in your comfort zone and not expand outfit. That is the nature off your primal fear. Even in situations which do not want those fears, it's certainly agree that getting a cold, unwelcoming reception at a party is a much mild threat compared to something that quick. Your life in jeopardy of the reptilian brain doesn't understand it. After all, that's how it's being hard across hundreds of millions of years. Those primitive, gigantic dinosaurs, really not all that brave things to fear, anything and everything that's exactly what they've passed down to us over the last few 100 millions of years. And you're trying to get out of the comforts. Your worst enemy really? Is this dinosaur inside your green just keeping you this divorce for the dinosaur, everything is a life and death situation In situations like these as a responsible human, you really need to someone your neocortex and tell the dinosaur countdown it so that you can review the decision based on stats and not arbitrary primal fear. Slighting dinner dialogue you can have with your dinosaur. No, I can't do it. It's so difficult. Oh, calm down, Dinos are I'm not listening to you. Go crawl back into whatever hole you came from and let me weigh the pros and guns off the situation. Tell me one dinosaur I'm betting on myself and I'm betting big and let me kill him. I'm going to win, win and win. If you can prevail over the dinosaur signing the ahead. You are half way through getting out of the comfort zone in any situation, every position, they will be based on facts, not those fears. Don't discuss some ways when you get out of comfort zone. Next important question is how state out comfort zone for a good deal of time. It's like uncharted territory. He's which would enable the new cart inside of you. Bring came the dinosaur. I mean reptilian brain, believe me really nice things out there for you once you get out. But staying there is very important. Here are some tips I can personally vouch for in the flow, also known as in psychology, flu is described as a state of mind. They're person is fully immersed in whatever activity he or she is indulging is no room for worrying, procrastination or deles When working creatively on any project, we can all identify violence such a state of mind at some point of time in our lives. We all have lived this experience no, was the foundation of all true genius in this absolutely essential. If you want to get the maximum off any endure once again you want Davis in life, why is it so important to get in the flow? First, it is here that beautiful things will automatically gravitate towards you. I post them. You describe no as a state of mind, which has an abundance rather over abundance of kinetic energy outcome, enjoying every single moment of your life. That's right. Instead of postponing your happiness to a hypothetical tomorrow, remaining in the flow enables you to enjoy a present more. It's important that you start enjoying every single moment of your life. Throw yourself or join a club, go to the nearest pub, enjoy us and ruin a will to battle expanded boundaries. Spend some more because money is going to come with me and you enjoy it. It should not be diamond. Every expense you incurring the process. Don't see it as an expense seed as an investment and investment in your future and investment in your better self, an investment that will grow your risk experience. Every time I wanted to break into the flow or zone state of mind, it took me like two or three weeks max involved for it. Honestly, if you want to do something better for yourself, you've got a boy. Grampian. Pessimistic people always throwing a wrench in your works. Always the next year's always the Doubters. This as if they're pre programmed to suck all your energy. Wishin will. They won't stay that way forever. After all, everyone move the ad in their lives at their own pace. Really, it is important that we start creating space from those people who bring you down. It is absolutely essential for you if you want to grow as a person and also to increase your this. It has a strong and resilient mind which is immune to the influence off those around you. Really, it is more important to cut out those people from your life breaking down concentrate and focus on only those who make you feel positive. Cutting down all the useless noise will fill your head with optimistic positive ideas. Timing is everything. Hold down the fort. Just because you got out of the comfort so doesn't mean you are ready for risk taking enterprise yet. Give it some work because you really need to prepare yourself for misty situations. I realize that you must strike wins for diamond is everything. People be brave. Be adventures. Taking risks in life really means that you need to stretch your rights and submit. You must uplift yourself when things don't go your way. It's important to get the brains some excites if you really want to leave the comfort, so you need to see yourself as a bold, brave adventurers. In my personal experience, travel is a greatly not only broaden your license but also to become a bold, brave and daring individual. Has a little secret. I quit my job two times so far to feed my desire for travel, taking me to far off places feel your roost Negative Self talk isn't going to help if you have been hurt by certain people situations and whatever else, you really need to stop feeding your brain most idle thoughts in order to get out of conference staying there. You really need to brush aside bossed hard feelings in your mind of any past guilt. Shame, fear for your journey to this Seeking being the new strong and resilient You is waiting in the world's trust, throwing yourself a challenge. Getting into the villas mindset. Really, once you have come out of the comfort. So there's an enormous pressure, even side to truly all those months off hot and revert to your bad habits. You really need to watch out for that kind of behavior. Need to constantly think of yourself as a winner. Get through the winners mold as quickly as possible. The more you think like Vita, the more you think yourself as a as an advanced athlete where you mind the morning I'm gonna stay off, manage your set out sick and dizzy. This goes with the territory. The more you doubtless the ammonia doctor admitting the morning jeopardize your sense offset for more you after staying the conference, one of the biggest enemies off risk taking. Is that a human desire to remain in the comfort zone? No, really willing to put ourselves out there in situations we are risk averse, natural. Staying in the comfort zone is the biggest and only really stumbling block to your success . Make no mistake, you really need to challenge yourself every day in order to get out of this comfort zone seeking. 4. Blind Risks vs Calculated Risks: why does the doctor was is about taking risks in life. What I'm not going to advise use throwing caution to the winds. Digging blind, uninformed wrists is not what is in order. Taking blind, uninformed risks can give you some success in the short run, but you cannot be. Go read long down strategy around that. It is very important that we understand weak and strong points in order to take premeditated, calculated risks, which are going to give you long term benefits. Between a mad dash on a calculated move, there is a fine line to walk. One of the inspiring works from Spanish literature is No Don Quixote by me. Well, Saranda is written in the 16th century, around the time of Shakespeare nobles name. See, it's a certain Shiva was changing Don Quixote, who becomes a night in order to seek adventure. One of this pursuits ends up in front off a bunch of windmills. Don Quixote imagines the windmills as an imaginary and made some mad dash, charging that was a comical scene force. I'm sure that incident was based on some real person because it was so widely received even in the English speaking world that the very word quixotic today means a crazy act off dared . There is so much wrong with the picture. I mean, you don't really dating off all your senses to prove a point. Ever put your life in danger as others really image off donkey? Lt. Ring Mills. It's so symbolic. Blindness now compared Donkey. How days and weeks. Another famous person from Spain, A real person. Christopher Columbus All right, technically was daily. But he was in the service of the Spanish crown sitting Spanish vessels to the New World. Normal personally, financially degradation wise. I mean, he started out with a very limited amount of information in the first place. The common consensus wars that the Earth was flat. Fact that it happened to you. Blow was an untested theory which found very few backwards was being one of them. Against the yards, dilemmas took a leap of feet to convince the Spanish Royals to send him out. Animation find out alternate routes to the Indies. I wanted the Spanish in to be a quick with men, arms and provisions for a voyage that would last for very long amount of time. A very expensive proposition they few sailors would decide joining on this adventure, they really have to round up a lot off convicts and all kinds of prisoners. Man most professional sailors but unwilling joined Columbus in his full mission. What Columbus certainly did not do was take a blind risk. He had been studying the course off the easterly trade winds for decades on had considered a lot of scientific evidence, which pointed Arrested route do the Indies. I talked to a lot of renowned experts in the field back there. That's why a student today doing a lot of Google search to come it evidence for his thesis report. I totally admire Dylan was better himself and changed the course of the world, eventually finding a new continent. If you really want to determine if the risk that you're about to undertake is blind or calculated, put yourself in the shoes off these two Spanish gentleman donkey outing and Christopher Columbus okay, love with its typically Italian. Imagine that a symbols off blind and calculated this doing donkey. How are doing the Columbus Me in a methodical speaker is all about getting your inner Columbus out whenever you confront a situation which looks like a blind risk. Ostersund isn't working. You don't really want to be judging. The wing means like a fool. What do you do? How what business review started? Most successful businessmen also happened to be very risk averse. That really goes against the green, doesn't it? I mean, the vagaries and these on top renews are celebrated in the first place is because they those kinds of risks that other people were too afraid to. The only thing that they give you is that taking risks in life is important, but it is not a license to flood with danger on bankruptcy. To give you an example of one of the world's most richest persons is known to be a very risk averse investors. There was a time ready, never invested in stocks that he didn't understand himself, especially the blue chip starts a few rounds above big eggs get around his nation hesitation in technology stocks. So how successful businessman be Simon Dennis know for being so risk averse that the problem lies a choice off. It's not that seasoned veterans don't have an appetite for risk. If they didn't, they would be in the innovation business It's just that there so much up ahead of the curve that they are totally against taking blind risks, that's all. Besides, there is something else we can learn from highly successful business. It's called the promotion. Was this prevention focus? Risky choices often brings great rewards, but the fear off risk often prevents us from seizing on those fortune. This is basically a Preventive Falls course, successful entrepreneurs that Dunn's they have learned dark themselves carefully radi advantages off taking areas, which is called a promotional focus, just cultivated so deep inside, every move they make is strategy. If your ultimate objective is to benefit from the situation at the end of the day, you will be more implying words. The promotional aspect off risk rather than the preventive he shot you will be driven more by the impending profit than any tangible loss. Successful investors and teach you about taking calculated risks and food. Don't put all your eggs in one basket. Diversifying your options is the best treatable. If you want to get the maximum bang out of any of this endure, protect your flag. More fear. Generals are always concerned about not being in such a position where they would be completely surrounded by the enemy. Well, nice to be pick at their weakest point. Before you venture into any risk taking enterprise, it's important for you to know where your Achilles you lies. Do everything you can to protect your flag before you go in on the defensive. Zero in on the unknowns. Spread your information network far, I'm telling you can't know enough about subject before you make your moves. Staking is all about hacking and minimizing uncertainties. Knowing everything that you possibly can is going to be a huge advantage. If I wanted to start cafe in my neighborhood, I would want, Oh, complete research, everything that could affect my business in the future on deters secrets off the trade footfalls. Before I make invest a lot of money, I would like to figure out commercial costs, government taxes, all sorts off overheads. If you want to take risks in life, do not big risks based on here. See, and rumors take stop off your current potential and make backup plans in case things go south. You can still rebound 5. Step 1 - First Raise the Stakes: Now you've decided that you're officially out of the comfort zone. Action and decisiveness is what separates that do us from those who can hope to build castles in the air business. Now some tried and tested methods which will help you get off the mark in any situation to take the risks that matter to you in your own life is all about executing your vision. I want to discuss why you can't afford to just keep on postponing your goals. At museum, you have to take action. The fastest way to do that is by raising the stakes. Every risky endeavor in life can be broken down into an expense off cost time and sometimes even personal reputation. Get better reserves and actually get off the mark. You have to start thinking less like an accountant on more like a player. Unifying the holding is not about making things sound true. It's really about balancing the risk off uncertainty with those reward centers in your brain. After all, what's the point? If you're not having any fun along the way, having fun is what keeps you motivated enough to stay on course and get more off your risky endeavor as any investment back. Having fun and playing hard is what leads to long term satisfaction and timely achievement off redefined goals. When you gan, if I experiences, you're able to see failures in a new life. If you are able to laugh at your in your weaknesses and turmoil, then you are already on the way to witness. It's really to give you a brief idea on what, exactly I mean by the education fixed about achieving a calm state of mind. Therefore, you reserve Stone mattered that much as much as enjoying the game. You know that, concerned with the outcome on the actual ISMs, what you're concerned about is playing fair and square, as every spokesman or spokeswoman would tell you, reading and achieving the final results. It's not exactly as important as how have played the game fairly being humble as a loser. Gracious as we know, the end result really pales in comparison to the statement you're about to make as a sophisticated player. So let me tell you this place, no matter what, is your risky pursuit in life, is it a job? A career isn't moving abroad to a new place. The only things that you need to keep in mind. These unleashed off your mind. Listen to your blood feelings and, at one point of time, raise the stakes off the day. Take up a change. Tell yourself the game has officially began. No sitting on the sidelines, No more sitting on the fence. You need to move on. It's here. It's now. You must get down to business as soon as you were able to come out of your comfort zone. It's really about doing rather than keep on talking about it. Doesn't matter how close you're gonna get to your goals. That's not really important. What is important is that you start playing. It is important that you get into the competitive frame off mine as every video gamer work there, sort for you. The most satisfying thing about gaming is not about winning, but conquering each level by the end of your own smartness. By your own effort, think of it. You're like scoring hundreds and thousands of points in the process. In video games as a real life, you don't spend days and months and yes, very there is no going back. Now You're like a gladiator on the arena. You need to stop all eyes on you. You are center, A trash. The whole crowd is looking at you. Off course You don't want to make files. You want to play by fair rules. This is your moment of glory. Prepare for the second base. Even then, your focus is not on the winnings but playing the game this dating is all about No. We're gonna talk about a water bottle. If you really want to get the best out of this taking enterprise, you must get yourself organized. Something? You just started a new business. Don't just sit around waiting for festivals. Spread the word out. Beautiful love, Skynet energy. I don't know anyone and everyone who could influence results. And while you're doing all of this, build yourself an unstoppable competitive mindset. As I discussed in one of my previous tutorials, human beings are hard wide by competition. We have a competitive edge that we can't do it. The desire to please a lasting legacy. The ancient Greeks that immortalized it in their epic points, the press labors of Hercules. Some position has always seen at the heart off risky endeavors undertaken by human beings who wants success in any mistaking activity. You'll after develop an unstoppable, better frame off. It's like a game of monopoly. And if you want to winning Monopoly, there is no taking prisoners. Okay? Living on the edge with no cold spot. That beauty is really fun. You really feel it in every self, your body. It can be incredibly stressful, but it really boils down to How much are you willing to put yourself out there more? You try to Messam eyes your chances of success the more you'll succeed eventually. Trust your gut. Stop second guessing yourself all the time. Why I say that you need to keep going with your gut feeling. It's something deeply, but it in your subconscious brain. Your gut feelings don't just existing vacuum Isis proof that what we called gut feelings are already deep fired in our system. They have bean passed on to us through millions of years of evolution, and all the experiences that you've had in your life extort somewhere deep inside every trial, every difficulty, every challenge that ever undertook in life has created a reservoir. We just want you that feelings are all about. It's like an infinite resource pool that you can access at any point of time. It's all this for you, using your gut feeling. You get advanced insides that are there in your conscious brain. They are good enough to have kept you alive. All these years. You've been always trust on your gut instincts to take this in life. The game has officially began. It should command your undivided attention, focusing on what is really important. Most importantly, we're comparing yourself to those around. Has never helped in. Won't you agree? I can't run as fastest Carl Lewis. That doesn't make you feel bad. We have different advantages. We are bought born with different qualities. Won't you re just remember this? No one can do the job as soon as you can. Don't procrastinate. Silence. You're in a sick Be aware off your changing emotions. There constant reflection off how heavy you are. My closing remarks would be this. That once you have raised the stakes in the game off this, there is no turning back 6. Step 2 - Brace for Impact: Protect yourself in the event of a Crash: we've already seen getting ahead in life and digging risks. It's all about playing the game and not with me. Progress in meeting forever, in fact, will never get you closer to what you want. Your country spending eternity trying to improve your game Payoff Risk is all about playing the game and raising the stakes. Discuss a completely opposite scenario off. What really happens when things don't go according to your plans when things hit rock bottom minutes stone than this? Nothing that you can understand as the time when you really stay strong and keep gone. Have faith in yourself in a higher power. If you believe in that experience, off crash landing can make you very bitter, but it can also beat you many things. It's all about gaining experience. Getting perspective. The ancient Bush and Perot, which literally translates into you, can avoid a lot of mistakes by your experience, but experience only comes when you make a lot of mistakes. There is always a silver lining in every adversity and failure before you eat this calling advice. But those who have learned to laugh in the face of adversity no, the importance of leaping first really looking in the abyss forever. You have to make the jump at one point of time, and sometimes it can lead to a bad for Spanish. For road buns would have said sleep plans off months and then often go sq. To understand why it's not always useful to stick to your original plan, it's good to take the real example off somebody who's in the throws off wrist. Ask an Air Force fired when a fighter pilot is surrounded by Amy Aircraft. There are a lot of things that don't exactly sick. According to the plan, he has to take a decision on the split name of emergency situations. Fighter violence are really on. These are situations such force them to think on their feet. Think about during a dog, Frank. If there's an incoming beside it, somehow survived. There's always a chance that you could crash into another plane, which is flying. That those of you is very close to you. Your mission is assumed to be more important than your life. So in moments like these, there is no building out without express order your body and never see enough is enough. If you're don't make a decision on the spot. Those G forces are enough to kill. You could even die if something goes wrong with the engine during takeoff. There are so many life threatening situations to do anything too much time strategizing, toe white failure would only get you so far. Violets who have survived have lived to tell tales and know that it's useless to brutal things. They have no control. They know that not everything can automatically fit into the range of expectations and no, the in accordance off now on never decisions, despite the huge probability that the plan will not work out. Yes, they're taking absolute risk because there is no other choice, really interesting to observe how they react under tense conditions. If you've never seen in the armed forces, you would never get experienced. Level off physical danger like these fighter pilots do. If they do so under those dense conditions, there are some important and why lessons on list that you must pay attention to has a personal story that I'd like to share. The closest I've ever seen to a life threatening situation similar to go fight a battle is that I was in middle school. One of my memories and me drifted Father Woods and accidentally you feeling Whitson, the nearest person? Waas two miles that is my start leader in the remaining too far Back. Then they were normal by phones. Of course, I had two choices as a 12 year old kid, A to run back to the scout leader and informed about the great sand situation and be do something on the spot. Whatever I had to do, react really fast, even though it's Scots were all being trained to be with quicksand like situations, at least until at that moment my mind went blank. I could no over, you know, the please off my comrade. On the other hand, I was scared about my own life. Is something gained within? It was like I was the only person in a position to save this life, that the second choice was obviously riskier. In order to save the life of my call me, I have to wait to the quick side waist only I found a stick with which I was able to extend my reach to the other fella way to battle horizontally and swam. Make way. It felt like a superhero that day after saving his life. But it wasn't the usual has thoughts for all about saving my own life batch that I did rights to the occasion. It was a huge risk indeed, jumping into the quicksand believe it was not a blind. And you know that if at some point of time, if I feel to extend my reach beyond the quick sense out, I have to bail out, leaving the poor guy do his own fate, the idea was to fight the quicksand on weed. From the experience that I'd like to share is that when you are in a difficult situation, anyway, it's important rights to education on. Take the challenge, never back away from calculated, especially when the stakes are higher, especially when someone's life is in danger. Billy need to react fast in life threatening situations, but it's really good that we have smartphones in this age today, and this never really far. So what happens when things go wrong in the pursuit off risk? Think about fighting by your scenario game. You've got forever thing you have to bail out at some point of time. It's a sticky situation to be in, but you do react fast and you need to bail out Fastness. What it calls for is proper planning. Need to bail out using a parachute at some point, but holds true for fighter pilots and come back like situations or my own personal example . Saving that boy's life who was stuck in quicksand also holds true for non life threatening situations by trying to drive wholeness that we've too much about what is going to be the outcome off any risk. At first you may use your job. You may feel embarrassed by a certain social situation, but really does that compare with a life threatening situation that fired by your sport themselves in thinking about it? Don't let your obedient brain speak for you. You can all this alive pretension management. It was afford you some money. Your new sleep were. It doesn't matter. At the end of the day, you have a big interest on you were fully aware off the consequences if the risk did pay off. It's like finding pilots. It's your responsibility to brace for potential impact if things don't exactly go according to plan, but in a lot of things, knowing when to be loudest, absolutely crucial. Keep your fingers on the bus. No. When it's the best time, nothing gets started. A business which is not. It starts floundering, and you wonder whether you should keep going on. No, there is a point at which you must quit as every fighter pride voters saw gets thought in physical danger again. Big yourself up, bagging and find the cells aimed for the sky. You will definitely hit the mountaintop. Double down in the face of adversity. Really doubled. Be positive and keep moving for us. Number least, I didn't define your signature strengths, which would act as an insurance store for you in the face off. It's really like a muscle. The more you are on it, the more it will be strength. He is teach you a lot. You never quit. That's the message 7. Step 3 - Go for the Finish: We've already discussed a method of listing, which includes raising the stakes, throwing in a conflict challenge and preparing for a crash landing with things don't exactly don't know the way they should knowledge of boats. In our success with this failure, it's your call to take a risk. Now that you're fully aware of the consequences, you are in a better position to take risks before, in the game of heuristic in knowledge is power. But this knowledge only comes through that experience. But you can read an eternity, begin that kind of knowledge. At some moment you have to make a decision. I'm going to take this are I'm gonna sit down for a while. Timing is everything. When I say when you're mentally ready and you're really willing to go when that gut feeling is calling you out from inside, I'd say that's the time. Then you should go ahead full trouble full term and there is date the plunge sensitivity. Digging a risk. Anyway, I'd say you should go for the finish. Really go for the finish. After weighing the pros and cons of the situation, there comes a time when you have absolutely no choice but to go full steam ahead really must diving into the task at hand. What is important is that you do your absolute best. The happy go lucky I want to win now Go for the finish Throwing that confident I know you know what would be the back consequences if things don't go according to plan. When you found that perfect state of mind that zone that state of float your gut were tell you that your inching ahead and now quick turn into wing reading become habit Now from this point at this stage you have actively distanced yourself from the naysayers, the pessimists, the sourpuss The people forever bring you down. Their words have no longer any influence on you. Nobody is going to bring down the self work from this time onwards. Every risk that your date will be yours. It's at this stage that you must modern yourself after those people who admire so that have been Wait your own appetite for success. You don't take the risk head on. You must embrace change. Supposed to success is never straight in Now there will always be challenges. There will always be obstacles but studying bomb that you don't let them consume your mind yourself in the driver's seat and take the wrists. Now when you plan to go for the finish. When you found your own personal recipe for this big, I would highly recommend that you start reading a lot because it really opens your mind like a bash. I'm referring in history. I draw a lot of my life lessons from historical characters. One of them happens to be famous Macedonian, and it's great, Don't you think he was some kind of a risk taker and someone who really stood up to the best of times? I say, Don't ever shy morning yourself after historical characters who inspired. After all, they also what inspired by somebody for Alexander, one of these role models, please. It's perfectly okay to your fans who you respect and admire, really fills your mind with positive ideas, unleashes bombs energy and makes your mind full of creative parts really want all that energy to be forming on the surface, really swirling all around. You really want to be sort and that kind of positive, uplifting energy you can feel it at some point. Here's why. I would like to say the diamond admirer of any. I would like to point out Alexander's controversial singer, and many people may not like, but the fact that he waas engagement off destruction across the many lands that people made despising for those very reasons. But that doesn't take away from the fact that he waas truly one of the greatest legends of all history. There are a minority historians to who you Alexander as a benevolent and visionary person who was way ahead of its time. Alexander was very red, articulate and taught by the great master at startle himself. I never had a nearly 100% success rate in warfare. In other words, is this execution ability? WAAS 100 Here is an example paid off. I mean, I can't think of a better role model than this one. There was no to be a very, very meticulous plan. We have already discussed the importance off calculated risk in one of our earlier deterrence and exaggerated extraordinary insights about any with sprang from deep appreciation about the coaches that was very important from a strategic point of view. If you understood the enemy up close and personal, you could outmaneuver them, elect from the front and executed on all the risk being brave and strongest on the school. But being articulate, knowledgeable and insightful, like examples is a truly great grist and give for risk. Takers from Alexander would be really learners that speed and decisiveness. Let me repeat that speed and decisiveness our biggest allies. When it comes to taking risks in life, you really have to go for the finish, many mentally ready to take any risk. It is at this judge on the morning. Worry about with this will pay off, sit back and weigh the pros and cons human more the more time that waste the morning over to set yourself up for failure, you really need to act fast and act calculated me. I think this has something to do with the way your brain is hard. Your brain reacts best when it is in exciting and exhilarating situation. Think of a roller coaster right that ended nearly never just goes up in that kind of excited situation. Would you agree you're bringing really needs that kind of every lead to function. Big wrists. Brie really hates the comfort. Thank you. The brain really wants to experiment with new ideas. It doesn't want mistake. Idle brain constantly craves excitement, nervous energy and innovation. Be fast, re decisive about big risks and mentally ready and weighed the pros and cause. And you know that it's a calculated risk. Just lunch ahead. Now you must go. For the Finnish men, it really comes down to the brass tacks. 8. How to Manage Financial Risks: So far, we've learned a bit about risk taking and methodical execution. Now we goes on how to apply the methods off risk taking that I have described in the previous tutorials. In one of the most important Deena's life. I'm talking about money off finances. It doesn't matter if you're a home body, a student paying loans. A carpenter executed a business owner. Money is something that is always on everyone's mind by chance. If you're lucky enough to have other people managing money for you, you can still benefit from the strategies of realistic discuss in this, namely, to begin with. Most of us don't really like to take any risks without hard on money. And I know it takes a lot off sweat a lot off the foot of a lot of time arm something that provides for decent, live like money is a commodity that were very afraid. We're gonna lose back if we don't treat it with respect before starting. Mr. Perry, I did a random online survey of some off my Facebook and LinkedIn franks on how exactly they spend their hard earned money. Most of them in the survey said that they like to buy their money somewhere safe, like bank accounts, fixed deposits, properties or some other assets like gold. Less than one out of 10 like big, some kind of real risk with money, like investing quick. That is because the financial markets are exposed to maximum amount of risk, whether a political economic on changing investor priorities. Cleo Not everyone is excited to write the money Tiger to his full attention in the point that I want to drive home is that you don't have to be, ah, high roller in a casino or a stock investor with diversified portfolios to be able to take financial risks in your life. No matter how secure you want to be with your finances, we simply cannot, officially, the element off risk, which is inherent. The nature of money, after all, so deeply intriguing financial emergencies can strike anytime and take of a old avail. You stashing these years in just a few moments. That's the nature of money. Do it. How should you be taking the financial state? It again boils down to nature. Did you lose money? How do you view money goes a long way in deciding how much off it you will be able to attract. Most of us tend to view money for the tangible asset. It is in hard times, indeed, never discount the idea off putting something away for a rainy day. But if you really thought it would safety be all your money into something back account and get away with very little spending and came to be, I would really say good luck if you can save money and live frugally for a very long time. Money Commodity, which keeps losing evaluation over time. Just look at the value off British pound currency that used to be really strong and student . It has fallen more than 15 to 20% in the last 3 to 4 months. Who would have thought that's 15 to 20% off your well, that's just Iraq operated. Money is a commodity which do this valuation in the long term because of the government's hair. Bring ideas manager Terry Insulation and other external factors beyond our control. Really, there are so many different ways off looking at this situation, but I'm off the farm opinion that unless you have a trust fund lying around somewhere, eating a lot of interest. You should pay attention to the fact that money, which is just lying dormant somewhere not yielding anything, is actually a Knauss for you, not a profit. In any case, there's a fundamental difference in the attitude towards money that Rich wasn't has combat to reporters. I mean, you can find out more about the famous book. My robot. You're rich, Dad. Poor dad. It's fantastic. I really recommend that you changed out. If you want to change your attitude and outlook towards money on my part, I would recommend it for really help. If you stop viewing money in Extreme lease, for example, debt. Oh my God, get is an instrument of oppression. Fair enough, I would say. But I would like to add that little amount of debt is not really bad thing. Indeed, if you have never taken alone in your life in your entire life, it affects a lot of things like your credit score, which goes down to, like, zero. You really need to have constant cash flow in your life in order to prepare for emergencies and financial problems that can come any time. You decide how much off your network are you willing to convert to get comforted again. This is not an investment advice. Please note. I'm not responsible if you heed my advice and fall victim to some kind off. 419 scam. I use all your money in the process. All I'm trying to say here is that you must not fear. Get three. It's just one off the tools for the average risk takers. It's an instrument playing with it, wise on a sagacious, always creep money with respect, never say never considered money as a means to get rich quickly without any heart. That's not going to work. To summarize. My attitude was many. I would say yes, save something for the rainy, but at the end well creates well. You cannot wish away financial risks, really. So it is more important toe play wisely with money, no matter what you're planning to do with your heart. With that, it is buying a house whether it is playing in the stock market, whether it just taking any other such financial risks. At the end of the day, money is an instrument that will make you more risk work. If you're planning on taking risks with your money anyway, There is important for you to make an assessment on when exactly your expenses stop giving you the The point at which your money stops Eating returns is called a break even point. It's not an exact calculation, but it's something that we all assess in our spending criteria. For instance, if you're running a business and analysis off, break even point would give you the criteria how capable you are, how capable you really are in running that sort of business. Living example of personal personally, you he used on seven figure suddenly working for a Fortune 100 company in the marketing dish. He was 40 years old. He decided to start his own marketing consultant with his job, opened a new office hireling 10 employees. He also had several blind references. So everything was looking hunky Doory. I mean, what else do you need? All of a sudden? Reality hit him very hard. All the clients that personally knew for several years refused to back him in his efforts. All the prospects he had vanished vanished into thin air. In the end, nobody gave in business. He had to downsize is started from paid employees to only five. Really, it was a very dismal situation to be in off course. At this point, the cost of business kept escalating and there was no ways was going to see any profits. His body started eventually had to be forwarded up. So let me ask you something. Moving this person really overestimated his own capabilities in starting something off is all. Perhaps. But let me add, I would still consider him very smart. Why? Because he knew how to bail out. He took a huge risk in starting Rachel's own, which didn't give him the expected returns. But he didn't let his ego coming between. He knew that he had to brace for an emergency landing. You can check out one of my previous video tutorials on how, exactly you must prepare yourself for crash landings in your life. What this guy was basically able to achieve was a very methodical assessment off his breaking point start with a very positive frame of mind. But he knew very well that if it's business, his fledgling business didn't bring any customers in the next two months, then it's a call for him to quit. I would argue that Perhaps he should have pumped more funds in and started again. Perhaps he quit too early. That's not really important. What is important is that he was able to minimize his lost, minimized his exposure. Who? Debt Instruments Model story. If you're going to be taking financial interests, it's very important for you to make an assessment off your break even point the point at which your business should start leading tangible returns. If it doesn't, there's something wrong with your strategy, and you must revisit your traditional plan. Remember, if you somehow crash in your attempt at risk, you always know how to pick yourself back up and big financial risks again. 9. How to Convince Others to take a Risk on You: so you're mentally ready to take the biggest risk of your life. But here's the H. You have enough backers. I cannot emphasize this point enough. This and evil go hand in hand. Often the biggest challenge we face is winning the support off our friends, colleagues and family members I ordered discussed before. Most people, by their nature, discovers anything about bringing others on board with your This based enterprise requires work. The thing is, most people are just not going to be too interested in your next big idea. Sometimes it feels as if you hit a brick wall. Are you convinced these friends citizens to joining in your risky enterprise? Let's take a closer look. People good on that. At the end of the day, we cannot really choose the people close to us. They are who they're they're not going to change. You must accept this fact. That's just the way things are going to stay. It doesn't matter if it's your spouse, your parents, your friends or any other family. Members there build in a certain way that is different from you. At the very outset, you need to treat them with respect. You need to respect the difference that separates you from them. There is a fundamental world of difference between you and others. You need to appreciate and respect this distance. It's not that they don't want the best for you. It's just that they see the world in entirely different race on. They may have reservations about the way you want to do things. You need to respect them. For that. That's a good beginning. If you are able to respect the individuality off other people around you, especially those between going to collaborate, you need to start with respect. That's the fundamental begin. I know plenty of people, Let me tell you just don't like to listen to their nearest and dearest ones. People are naturally stubborn, as if once they made up their mind, no one, not even the most closest people can influence them in any way. People contend that that's wrong. I you must always listen to the naysayers and Doubters among your close associates, especially the ones with whom you're going to collaborate. Now you want to say that one of my previous video tutorials, I said that you must avoid unhappy and the unlucky Well, I still stand by that statement. I was referring to strangers on people that could be just described as mere acquaintances that have no part in your plan. I wasn't referring to people who choose to go collaborate, but then you got to be more transparent, more forthcoming, more trusting, more respectful. That's how you will win their support right now. I'm referring to people who really matter in your life. They need not even be a blood relation. It could as well be a bank that was about to give you a good amount of personal long. I mean, that person is like your soul mate at the moment. Believe me, a banker has sold me. That's a big rich, shall we say, Want to try to drive. Here is a little bit of respect goes a long way in establishing long trust. You need to respect the opinion of the people except on, and humility which makes will treat you with a lot of respect. This eventually your tone and humility, which would make people did you seriously. If people have a stake in your plan on, they want O make an influence and impact, please treat them with respect. I can't emphasize this coin enough. Although we're discussing your plan with your collaborators is very essential. If you want to get rid off your doubts and second guessing problem, think about it. Troll. In any risk enterprise, we're going to run into some practical difficulties ahead. But if you've bean transparent with your, it really would help mitigate the risk. By great, you don't have to share all the information booth. I always feel free to keep self your best ideas to yourself. But seeking a second opinion doesn't really hurt. If you have dude always take the women in your life very sees. For some reason, I would say I have a deep sense of infusion, some kind of four boarding. If things are going to go around, I can say that. I mean, guys have institution to, but women stays in. Duchin is something that it's probably worth doing some research on. It's as if women's brains are programmed to sense some kind of a looming disaster. I don't want this, but there might be some truth to it. Do it again, Creek Living in your life, all the descriptive when you read that basic Prum eyes is that we must never ignore the gut feedings and instincts off other people close to us. People that would reduce to collaborate will go a long way in helping this many my service in an uncertain world. Just now that we're done with all the respect and nice tease, it's time to take a closer look on how to get others to take a risk on you. Any risk that other person takes on you is directly proportional to amount of effort, time and money that the person has to invest sometimes that it would be simply lifting a finger, for example, providing a credible reference to higher authority. Finding good restaurants is is absolutely essential if you want to make inroads in the right genesis. That is where a person is going to take a risk on when he gives you his backing and support in such situations, the person who is taking a risk on you to provide her friends, they will have to be convinced that you are someone was reliable, genuine and trustworthy. What this basically means is that if you want someone to pay a risk running, especially if it is something to do with their recommendation, and they have to see you as a person off integrity and honor. You really need to cultivate that kind of that kind of positives image with that person. And, of course, appearances do matter. You can't just go toe job interview or me. Bank manager dressed in flip flops and a casual T shirt. Making a great first impression is absolutely dissension. The lasting impression you make on the person would go on normally determining whether or not they big risk on you. The secondly, to bring someone on board with your plan is to articulate very, very clear what's in it for them. It cannot be a simple statement like hairball. It must some money in my enterprise I 60% commission on every sale that we made. It might be a really close friend, but the instinctive human reaction to every situation like this is, I don't know. Maybe I need a dime on that. More time can take forever. A better way to articulate your plan to someone will be so frank is we invest $5000. It would be a bunch of left sides advertisements and go leafletting around the neighborhood . I do nothing. Just invest 50% of the now and you will get a commission directly in case things don't work out Well, I'm giving you a blank check right now so you don't lose any money. Technically, everything that you enlist, you get it back right here. You can trust my work. I can also walk you through a detailed plan if you're interested. Further, I say don't make a position right now. Take some more time. But I'm really trusting you to back on me. You won't be disappointed. I think that's a much better pitch with Do. Re articulating in a nice way means a lot of the other person. It could raise your sincerity covered in finding point. I want to raise in. Convincing others to take a risk on you is to be a man who never goes back on his word. It goes hand in hand with the integrity and honor concept. Treating other people as a cash cow is a sure way to attract