The process of starting a business is actually a magnificent performance of constantly assessing risks and minimizing them.
I listened to a podcast about "margin" a while ago, and it reminded me of the many dangerous decisions I made in the past, such as quitting my job without a plan, starting a business without thinking, and making unnecessary ostentation for the sake of face. Below I share with you the changes in my mentality over the years of starting a business.
｜Daily Risk Management
The term risk management sounds too professional, and you may think that only major decisions require risk management; but in fact, all attempts in life, big or small, can follow a logic. And this logic is called "whether this decision can bring growth."
If you have a budget of 50,000 yuan today, would you choose to go abroad or pay for a full-year management course? If I were just starting a business, I would sign up for the course because it could bring me an extra 250,000 yuan in benefits per month; but if going abroad could give me a broader perspective and inspiration, or get business cooperation opportunities in that country, or be able to evaluate the market environment, this would be the choice I would make now. But this is the "spare space" I have earned through years of hard work.
So have you noticed? Roughness accumulates over time based on all the decisions you make in life.
｜Psychological Risk Management
Do you often feel regretful? Are there too many things in life that you should have known earlier? Most people will reflect on the decisions they made, but few people will think about the mentality behind the decision.
No one can always make the right decision, but you can observe why you made the wrong decision in the first place and your margin of leeway is getting smaller and smaller. Is it because you don’t have enough confidence in yourself? Or is it because of face? Or is it because you are overconfident and think inconsiderately and misjudge the situation? If every reflection on your mistakes can bring growth, then the chances of you regretting it in the future will be smaller and smaller.
I used to be dissatisfied with the status quo. The more setbacks I encountered, the more I wanted to make a breakthrough in my work. Overconfidence and face-saving made me lose money and run around in my third store. People often think that everything will be fine after making a major decision, but in fact, the next step is the beginning of your responsibility for the decision. So it is not the right choice to make money in the short term. To increase your margin, you need to look at long-term life investment.
｜Always have a record, and a record of the record
I have said so many scary things before, so what should I do? Should I just make no decision? The answer is, even if you want to take a gamble, you should always have a plan and a plan for the plan.
Filing actually means a solution. When I first started my business with debt, I told myself that the worst-case scenario was to go back to work, but with my ability, I could do the work of five people. I would definitely be able to get a high-paying offer somewhere, but the prerequisite is that my growth rate in the past few years must be three to five times faster than that of the average person. It’s not that I’m waiting for failure, but I believe that improving my soft and hard strengths is the way to reduce the risk of failure, and it’s also the way I can get up quickly even if I really fail. So I must make time every day to read, exercise, and study everything related to business. Unknowingly, more than five years have passed. Even though I have encountered so many crises and failures, the company is still growing more and more steadily.
Life is about constantly increasing your surplus, and this surplus comes from the value you can bring.
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