Episode Transcript

Hey what’s up? What’s up? What’s up, everybody? Welcome back to THE a.m guys. Welcome back to five minute rants. I’m your host, Michael Abernathy. And welcome to the show predicated on the journey of life and business. Hey, guys real quick, would you do me a favor and partner with me to help spread the word and changing lives? If there’s somebody that you know, that would benefit from listening to this, that this would maybe inspire them to get out and do things or begin moving in the direction that they want ahead in life? Would you share this with them? I appreciate it, guys, and I appreciate the partnership.

Well, today, I wanted to talk about risk. And I actually want to have a conversation about risk. And Here’s why. There’s a saying, and I’ve heard this a lot in business, I’ve heard this a lot in a lot of things. no risk, no reward. Right. And I don’t know if you’ve ever heard that saying, but I really want to break it down, and I want to talk about it. First. First two things, if you’re uneducated, your risk factor in whatever you’re doing greatly increases uneducated decisions concerning risks are the most risky decisions you can make. And I’m not just talking about investment, I’m talking about deciding where you want to go and What you want to do in life, right. And so when I hear this saying, This is What this is how, What the saying means, to me, this is how I break it down. Life only flows two ways, positive or negative, there’s no middle. Hell is the hallway, and I’ve got to get on one side or the other. And this is how it applies to risk. I’m either risking something of my own accord in my own volition, to win something that I want out of life, or I’m risking everything I currently have that I want to hold on to, to being taken away by doing nothing.

And this is why the positive and negative matter. Newton’s second law, not Newton’s second law, but the second law of thermodynamics states this everything goes from order to chaos. In other words, everything that I currently have slowly degrades over time. Thus, I don’t actually have What I thought I had, because nothing sustains in perfect condition. Cool. I’ve built a business if I don’t maintain that, I don’t continue to grow that and there’s not positive growth. It’s slowly but surely degrading and falling away. It’s the same thing. It’s why massive companies that have been too big to fail, they’re not around anymore, or they aren’t like look at how the car industry changed over the years. Look at technology. Did you know Google was not the only search engine, it was way later to the game. And it actually took out a lot of big players in the search engine industry. Like think about that. Why? risk. Did you know that blockbuster never thought about Netflix, think about that. They said Netflix isn’t even on our radar, why they did not want to look at What What the risk was of staying the course on What they had, versus the risk of investing in Netflix or buying Netflix because Netflix offered itself to be bought by blockbuster, and then risking and taking a risk to see where the industry was going to go.

And Here’s the thing is, anytime you don’t take a risk, you always lose. There’s no way to win without risking. If you want to win anything in life, you must risk it. In other words, if you want to ask your crush out, guess What you have to do, you have to risk the rejection. And Here’s the thing, when you don’t take risk, you always lose. And Here’s a few things that you lose the possibilities of the future, different opportunities that may open along the way. So you have opportunity cost, real opportunity cost, and then that version of the future, based upon winning. And if you know that you have to do something that you feel uncomfortable doing, you know that you have to take risk in one shape, way form or fashion. The way you do this is get educated if it involves money or other things, versus you already have the education. Step two is Alright write down all the pros and cons. What do I gain If I do this? What are the possibilities of What I will gain? And then What is worst case scenario, if I lose at doing this, for instance, if you go into entrepreneurship, you open your own business, you and you go into an industry running your own business. And even if you fail after your first five years, guess What you have? You have a phenomenal resume to pretty much go get any job you want.

How risky was it to really open up your business? Well, it depends on money. It depends if you’re taking out loans, it depends on What type of industry you are. But if you’re just learning the skill set, applying that and becoming your own business and entity and moving forward to try and build something man and there’s no overhead. That’s no risk at all. As long as it can replace your current income and you’re not being kicked out on the street which is minor. So I’m talking about like replacing incomes minor and small and anyways guys, just think about that think about risk is important to know how risk adverse you are and how willing you are to take risk and how quickly you say no to risk without actually analyzing What you’re saying no to.

So that’s it guys. I’ll catch you later. Peace