⚠️ Is Your Fear of Money Holding You Back? (Read This)

We often talk about risk as if it’s a bad thing. But all forward motion involves risk. You can’t find a risk-free way to accomplish much of anything. I am sure most of you understand this and are actively taking risks to become better.

Here's the one thing that skyrocketed my risk-taking ability (and can work wonders for you): reducing your attachment to money.

This is where most risk-takers (myself included) stop or at least slow down.

Leaving your current job to build a product/business, buying inventory, and marketing all cost money. We try to minimize this risk by doing everything ourselves, avoiding marketing investments, and hoping for organic growth. All this to save a couple of thousand when there is someone who could have done it better. A few thousand or a couple of lakhs you are trying to save now won’t matter in a few years, but this lost time would!

Remember, time is finite, money isn't. Detach yourself from money. You can always make it back.

There's a marketing saying: "Overspend, and you lose just the extra budget. Underspend, and you might lose the entire campaign."

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How You Can Make This Decision Easier

Pre-allocate a specific amount for each experiment/risk you want to take. Think of it as your learning budget. Even if the experiment fails, the knowledge gained will be invaluable. You can set this budget at any amount you feel comfortable with.

The idea is that you don’t dwell on it twice once you have decided to move forward with an idea.

Once you grasp this concept, you can take incremental risks, and your risk-taking capital (and ability) will only grow with time.

Bonus: Seek advice from calculated risk-takers. You likely know people who overcame fear to pursue something scary – starting a business, making friends in a new city. Talk to them, learn how they challenged their risk tolerance, and discover smart ways to embrace risk.