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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.

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