Ninety-nine times out of one hundred, the lesson learned in Las Vegas is…well…to avoid going to Las Vegas.
But I won’t be talking about belligerence, debauchery, or anything of the sort, here.
(Hey, what happens in Vegas stays there, right?)
All kidding aside, today’s podcast is about the ways in which my approach to gambling in Las Vegas parallels my approach to running a company.
Before we dig into the actual content of this episode, though, I want to make clear one important difference between gambling in a casino and investing in your business:
When gambling, even if you have a solid strategy and approach, the house always has an edge. But, in the world of business, it’s this solid strategy and approach that gives you the edge – and opens the door to infinite potential for your company.
What I Learned Gambling In Las Vegas 💵
In today’s podcast, I’ll bring you through my latest experience playing my favorite casino game of choice: Blackjack.
But I don’t just sit down with the intention of nickel and diming my way through the night. Rather, I set my sights on a specific goal (that is, a specific dollar amount), and strive to reach this goal as quickly as possible.
To make this happen, it’s essential that I approach the table deliberately. While I explain how I do this in greater detail in the podcast, the main things to know are that I:
- Take immediate control of the action at the table
- Make my move immediately when the optimal opportunity arises
- Use only my winnings once they grow to a sufficient amount
Take a look at those points one more time. Aside from the reference to a card table and “playing” with “winnings,” I could say the exact same thing about how I run a company:
- I always place myself in a position that gives me control over my entrepreneurial destiny
- As soon as an opportunity arises, I capitalize on it without hesitation
- I never risk everything just to take a step or two forward
This last point is extremely important:
Whether I’m sitting down at the blackjack table at the Bellagio or aiming to scale my business, my number one priority is always to preserve my initial capital investment. Once I’m 100% confident that I won’t lose a dime of my own money, only then will I begin thinking about how I can make that initial investment grow.
Oh, and as for how I actually made out on my gambling excursion…well, you’ll just have to listen to the podcast 😉
- How To Generate $1M+ To Fund Your Startup’s First 2 Years Of Growth: An article I published on Medium about bootstrapping and playing the long game when founding a startup
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