Manage the downside

Seasoned risk takers manage the downside. When they fail, it’s never a knock out blow.

It’s like landing a plane on fumes, even if the final path to landing is a slow glide down to a makeshift runway. They pick the bailout area along the way, and if things don’t go to plan then they divert, land, refuel and regroup.

Increase your risk profile, but also increase the hedge against absolute failure. What’s your contingency plan, how do you mitigate loses? Don’t close your eyes, hit, and hope. That kind move only works in the movies.

Success is about persistence and repetition, but you can’t compete if you’ve crashed and burned along the way.

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