Taking risk shouldn’t scare you Risk is any situation that involves exposure to danger. There are different kinds of risks such as life risk, investment risk etc.
Do you know life is all about risk. Some risks are natural, you can’t do without them. For instance, stepping out of your house is a risk because others step out and never returned. Taking your bath is a risk because someone died while taking his bath….these are things that most people don’t even recognize as risk.
But, the type of risk we are concerned about in this post is investment risk. Ben Carson said in his book, Take a reasonable risk.
Is your risk reasonable?. Who do you take investment advice from?. How successful is the person?
Would you be proud to tell your pastor, parents, spouse, good friends, boss etc about the risk you have taken?
You must do proper risk analysis before you venture into it. Check out the dangers involved, the benefits, the probability of you getting the desired outcome, the antecedents, available data on the present situation, history of people who took such risk before, their success and failure, what made them fail or succeed? What tools, systems, ideas, capacity, skills, etc do you need to successfully take the risk?
What is your risk management system? What will be the worst thing that will happen to you if you failed and what will be the best thing that will happen to you if you succeed? Consider the worst and best-case scenarios in your risk-taking.
Without mincing words, some risk you are taking doesn’t worth it, it is not an investment rather you are gambling or a victim of scamming scheme.
Don’t Involve in things that promise you 50% and 100% investment without reasonable work within hours or a few days.
This is not a reasonable risk…run away from getting rich quick opportunities flying everywhere now.
Even the Holy Book says “faith without work is death”. Every genuine wealthy person, you see today has paid his dues with reasonable work.
Learn from them, follow their principles about making money. It may take a long time but you will win.
Do not join the yahoo boys gang to kill and defraud innocent members of the public to make quick money that you will spay in the public. This public show of money we see in society today is against our norms.
Be careful, others may do and get away with it but yours the story may be different. Don’t do it and never be a victim. Take a reasonable risk that you will be proud to tell someone.