Larry WeidelMentor and Coach Empowering Million Dollar Earners

The Anti-Risk Formula: Test Don't Guess Framework For Business

4 Dec 2024 · 1 min

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Larry Weidel explains how to reduce business risk by testing ideas before committing fully. The core principle: de-risk your position to cut stress and losses, even if it means giving up some upside potential.

Rare things happen and they have disproportionate impact, so I'm very well aware of that. Bernard Burrough was asked how he made so much money, and his answer was I sold too soon. The point is, if you can de risk your position, and de risk is a phrase I never used until I started doing this stuff. But de risking your position is just like putting some money away so that if all things go bad, you're okay, you'll be fine, you might be okay, you might be great. However you want, however much you want to de risk. The more you de risk, the lower your potential upside is. But you have lived a much less stressful life by doing it.