Blog

Cameron's Coaching and Mentoring programs help smart companies grow and succeed. By enrolling, you'll gain unrivalled access to one of North America's most admired business minds.
« Back

Only Risk What You Can Afford To Lose…

by admin on April 01, 2010

This is a lesson I learned the hard way at only 8 years old.

By 8 I’d already become a certified card addict and had gotten pretty cocky with my cribbage skills.

One day at our cottage a friend of my fathers was talking about cribbage.  And I proudly said ‘I can beat you.’  To which he replied, ‘don’t be so sure, and don’t bet unless you can afford to lose’.  I said fine I’ll bet you $7.00.

I’m not sure where $7.00 came from but in 1974 that was a LOT of money especially for an 8 year old.

I didn’t have that much money so I said if I lost he could have my new bike.  I knew I wouldn’t lose.  He agreed to put up $7.00.

Ummm, I lost.

And my bike disappeared into the trunk of his car.  The next day he drove away with it.

I was shocked and in tears.  For three days I never saw my bike.

My father then phoned his friend and negotiated a trade.  I’d do jobs around our cottage area to earn $7.00 if he’d sell me my bike back.

See the receipt attached…

Note: It’s hard to see – but I love that he even got creative and made it Invoice # 69 😉

Quite the character.  And quite the lesson.  To this day.  I ONLY risk what I can afford to lose.  Sometimes the risk is worth it.

For more information on this topic, check out: The Emotional Roller Coaster of Entrepreneurs.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

This blog is kept spam free by WP-SpamFree.

Join Cameron's CEO list and gain insider access.

Fast-track your growth & elevate your leadership

Join Cameron's CEO list, and get access to free exclusive content, special invitations to small private CEO events, and personal blog updates with tips and tactics to supercharge your life and business.

Sign Up For Blog & Free Tips