Every new venture is a gamble. Entrepreneurs all over the world invest their time and money every day and some of them win while others fail. Does it sound familiar? Believe it or not, gamblers and entrepreneurs have so much in common that at the end of this you will feel brave to finally open that small café or that online shop you’ve been dreaming about for years. So, let’s jump right into discussing how these two so different personas could be so closely related!
They Are Both Willing to Risk
Or at least they are not afraid of it as most other people are. In both cases, there are money invested in something and high hopes for a return. Regular people stress over this kind of situations while our two types of personalities here, love it genuinely. Not only are they not afraid of the thrill, they seek for it intentionally. This is their way of feeling alive and they often cannot imagine anything else that is so powerfully charged. I know a lot of gamblers and entrepreneurs and it’s obvious they have a passion for what they do and do it because they really enjoy it at the end of the day. I believe the risk-enticing similarities don’t need any further explanations. It’s clear both parties love it purely and if they were to stop doing it, they wouldn’t be called a gambler or an entrepreneur.
Experience Makes Perfect
The more you play, the better you’ll be at knowing when to hit, bet higher, lower or simply when to leave. It’s the same with business. Every day of gathered experience, triumph or failure is a stepping stone to a better performance next time. You learn the rules just as you learn the laws, research the RTP just as you research your target market, know when it’s better to shut up on a meeting and save yourself the trouble just as when to stand on blackjack and follow the good old, standard strategy. It may not give you the ultimate risk thrill or the much-deserved shouting at your employees but it’s the wisest you can do in the long run.
Managing a Bankroll
In economics rules are simple – credits and debits should be strictly managed on the balance sheet. Acting without this in mind is the first step towards the end of it all. Meanwhile, bets come out of your pocket just as any other business expenditure and not managing your bankroll is also a recipe for disaster. A quick route to leaving the roulette table with disappointment and blaming it all on the faith. The truth is, it’s all up to you and the ability to set limits, and practice discipline without any exceptions. Sometimes even the smallest misstep could put an end to your game or your business.
Now you know that if you love gambling, a business plan may turn out right for you, just as the other way around.