This article is inspired by someone who has limited risk for much of their life. To this day and in his early forties, he lives with his parents. I’m not saying it can’t happen to you if you take risks, but it serves as an example of what can happen when you always try to play it safe.
If you want to limit the risks
If you are one of those people who hate taking a lot of risks, you are not alone. I don’t know if it’s 50% of the people but maybe. Not always going all-in is a good thing to protect you. Together, it is good that one of the two is more conservative and less launched to stop the person who would be ready to take too many risks. If you have a business with a partner, the same goes. It’s good that one of the two has a more analytical and less emotional profile to think through decisions when the situation calls for it.
I think limiting the risks is always a good thing if it goes along with moving your butt. Having ambition and not taking too much risk can go hand in hand. You can be successful with this strategy as long as your supposedly safe bet works for you. Wanting to be a civil servant and learning to take the exam, I think, might be a good example. It can be considered as a journey for a person who wishes to limit the risks. Considering the fact that there are only limited places and that passing with a good result is not so easy (from what I have heard) it seems that even this way of limiting the risks could be just the opposite.
If you want to create opportunities
Being a creator of opportunities is not necessarily the reverse profile of limiting risks. It’s just a matter of creating a plan B, C and D. In my case I have many plans and projects in parallel. It’s a way of finding opportunities because I do a lot of things at the same time.
My plan A is to be a consultant where today I can predict that the next 12-18 months I will have more or less certain and recurring income. At the same time, I reinvest a large part in the Amazon business and in the purchase of Pokémon and Lego cards. In addition to that I am developing a tool for Amazon and another to allow investors to put money in Lego and benefit from the possible return on investment once they are no longer available for sale. Another thing that I started is the possible takeover of a company .
If one thing fails, I fall into the next layer. It seems that I take more risks than the average person but in reality I am making sure that something does not work. A lot of people who don’t take risks multiple times don’t understand that the path they take of betting one thing at a time with an all-or-nothing plan in the end is riskier than what I am doing.
This is what happened to the person mentioned at the start of this post. He always bet on one thing at a time and it could be taken for granted. It never went as planned. Now another stage is about to end. I wish him good luck so that this time goes well.