1 Thing I Had To Learn About Risk
A few years ago, I asked my parents if they would allow me to build my own business. Of course, they did not, as you might have guessed. I moved to China and had never to be seen again until I came one year later back to my home. My parents still did not believe that I could make it. Nevertheless, I was pretty sure I was ready for it. I asked my aunt whether she could help me with founding my business. She tried but the obstacles were still pretty big.
I had to do it on my own. Figuring out how to build a business in Germany (which has one of the most complex bureaucracies on earth) is the most difficult thing you could ever imagine.
I read a newspaper and opened the page which reported about current events in business in my hometown Berlin. To my frustration, it said 99% of all startups fail within 5 years of existence. Sh**! I hoped none of my relatives read that paper.
Somehow I made it and started selling my products. After another few months of being in business, I realized on thing: RISK DOESNT APPLY TO THE INDIVIDUAL. Just because I seemed to be heading toward becoming the 1%, it didn’t mean that still the likelihood was 99:100.
Risk doesn’t apply to the individual because the individual can change the outcome by putting in work, time, and effort. At this moment, I understood that my 0wn success only depends on my own willingness to work hard.
Statstics don’t win games, and especially don’t build businesses!
Never forget that!