Managing Risks and Fears | DO 47

If You Risk Nothing, You Risk EverythingThose who risk nothing, risk everything!  That being the case, as well as fear of failure being a common one among managing mankind, managing risk so that one isn’t deterred by taking them is an important issue worthy of any person’s undivided attention.  On this episode, the Do Over Guy, reveals and gives you one weapon of which risk and fear have no defense.  Enjoy!

 


 

 

Resources mentioned in this episode:

https://FreeDoOver.com

https://DoOverPlan.com

 

Podcast Transcript:

Matt:  Hey, this is Matt, “The Do Over Guy,” and this is Your Do Over: Episode 47.

Announcer: During an era where countless people, businesses, and organizations are feeling the pinch, running out of time, running out of money, losing confidence, feeling as if life is unfair, praying for another chance and unless something is done, life is going to pass them by. Life is going to pass them by.

Fortunately, in the nick of time, there is now a place where the ignored, underestimated and unknown steps to producing results and making life work are revealed. Save your career. Save your business. Save your health. Save your relationships. Save your life. Get from where you are to where you want to be, faster and with greater ease than you ever thought possible.  Say, “Hello!” to Your Do Over.

Matt:  Welcome to Your Do Over, coming to you live from downtown Los Angeles. This is the place where I show people who want more out of life, people dissatisfied with their current situation, how to start over and begin a new life, setting goals and objectives so they can create wealth and live life to the fullest.

You can jumpstart your Do Over and lay a solid foundation for a better life by downloading the Three Pillars of Creating the Ultimate Do Over for free at FreeDoOver.com. It’s a 55-minute mp3 audio program that I made just for you with three specific steps on how to get success as you start over.

The Three Pillars of Creating the Ultimate Do Over will put the legs under your table. They will lay the foundation for you to achieve. They will act as your traveling success coach, and they’re yours for free at FreeDoOver.com.

Hello and season’s greetings.  I’ve got a great show for you today.  Another listener’s request, this comes from Shelly Sanders from Baton Rouge, Louisiana.  Tony Tosco, if you’re listening.  I know I mentioned in the last episode that this episode was for you that I was going to address your request, however, I’m unable to pull together all of the working parts and time but I will get to it.  I promise.  Hopefully, it will be on the next episode.  I just wanted you to know that I haven’t forgot about you.

Also my email inbox is filling up rapidly probably it’s the most full it’s ever been so I haven’t forgotten about you who sent me emails in the last few weeks either.  I plan to reply to all of them over the holidays.  Okay.  Shelly Sanders of Baton Rouge, Louisiana requested through my Facebook page that I discussed taking risks and how to overcome the fear of taking them.

She writes, I want to start a new business but failure statistics of new businesses scare me.  Although becoming a business owner is one of the few realistic pass forms for people to becoming financially independent.  I’m scared to take the first step.  It seems so risky.  What can I do to minimize the risk of failure?

Great question, Shelly.  Thanks for asking me.  I know the risk of failure or the fear of failure is a common fear.  It’s very common. I do think I have an answer for you.  At least it’s something I remind myself of when I recognize fear as stopping me from progress.

First, I remind myself that there’s nothing to fear but fear itself.  You’ve heard it millions of times I’m sure.  No.  In fact, I know you’ve heard that before.  I’m sure but it’s true.

What that quote reminds me to think about is all of the times I’ve been scared of failure or taking action.  There have been hundred of times actually hundreds of times I’m sure.  I think about all of those times I’ve been scared and actually did take action.

Every case I literally ask myself, what was there to be scared of?   What was I so frightened of?  I mean in yourself as well.  Think back on moments in your life of where you feared failure but you did it anyway?

Didn’t you look back and wonder what you were afraid of?  I mean it didn’t kill you.  Did it?  Of course not.  You’re here listening to my voice.  That’s pretty good evidence that it didn’t kill you.  You survived.

You know there’s very little occurs in most of our daily lives that can cause us physical harm.  Sadly though the majority of fear that stops us has to do with our fear of looking bad in front of other people.

I mean, what will people think if it doesn’t work out?  Right?  What will people say when I fail?  You see it’s this fear of a potentially bruised or damaged ego that stops us form pursuing our dream or our goals. As a result, we play it safe.

Eek.  We play not to lose.  Double eek.  You know we’ve only got a handful of decades on this Earth to really make things happen.  Why would you want to spend that time playing it safe?  I mean none of us are getting that out alive.

Start that business.  If you fail, so what?  Do it again.  Approach that special person.  If they shoot you down, so what?  Do that again. Or go find someone else that recognizes the amazing person that you are.  Ask them.

Ask the boss for a raise.  If they shoot you down, so what?  Go make yourself more valuable to the company and ask again.  I mean what are you missing out on by not taking these risks?  Are they really risks?  Is it the risk of a hurt ego that’s really stopping you from living life, living your dreams?

Don’t be afraid to take risks.  Here’s why.  People who do avoid them do so to protect what they have.  They play not to lose.  They do it t protect what they have but people who take them frequently end up having more.  What I’ve come to recognize over and over and over again is that if you risk nothing, you risk everything.

That’s enough for you to go out and crush it.  But if you need a little bit more convincing or a little more assurance rather that there’s nothing to fear but fear itself.  I’m going to give you the number one fear killer.

It’s the one weapon that you have at your disposal of which fear in risk has no defense.  This weapon wins every single time and that weapon is education.  Yep.  Fear will only stand in your way in the absence of education.

Now I’m going to take you through a little exercise to prove it. I use this exercise all the time and you can do this right along with me if you wish.  Or you can come back to this later and I would recommend that you do come back to this episode especially if there’s fear currently present in your life that’s stopping you from getting something that you really want.

I’m going to use Shelly’s example of her fear of starting a business for the exercise but you can insert anything that you want.  Your fear or anything that you want.  So get a sheet of paper and turn it sideways landscape style.  I want you to make three vertical lines evenly spaced out on the paper creating four columns.

At the top of the first column, the one of the far left. I want you to write “worst case scenario.”  Okay?  Worst-case scenario.  And what we’re going to write on this column is all of the worst-case scenario or the entire possible worst-case scenario that you can think when starting a business.  Okay?

So maybe one might be never get the business off the ground.  Okay?  Never actually get some going.  I mean that’s a worst-case scenario for some people.  Or you get the business up and running then fails within the first year.  That’s certainly a fear.

Or you get the business up and running then someone sues you.  You know you didn’t even do anything wrong.  I mean that’s just the type of society we live in.  We live in a very litigious and people can sue you for anything.  You then have to have the proper protection that wipes you out.

Or you pump in your life savings and it fails.  You lose your life savings.  That might be a worst-case scenario.  Or you pull in some friends and you pull in some family members and you pull them all in as investors then it fails and you lose their money.

Okay?  So those are some of the worst-case scenarios.  I’m sure if you really put your imagination to it you can come up with some awful, terrible stuff.  That’s the stuff that stops us.  Those worst case scenario or the ideas of those worst-case scenarios in our head.

Now in column, I want you to write recovery time.  What you are going to write in this column is how long it would take you to recover if you experienced those worst-case scenarios.  Like how long would it take for you to get back to the position you were in life just before you started that endeavor?  Just before you started that business.  I mean it might take a year.  Maybe it will only take 6 months or you know depending on your situation, it might just take 30 days.

Or maybe just a day.  Who knows?  It might have been just okay.  That one didn’t work so let’s start again tomorrow.  I mean whatever would be for you.  It wouldn’t life ending.

It wouldn’t be the end of the world.  You know whatever was created up to that point can be recreated and because you done it once.  You have the experience of doing it again.

Because you have the experience, you probably going to do a whole lot quicker.  So recovery time, I just want you to get that whatever it is, it’s really not that long in the grand scheme of things.

When you stop and really analyze it, I don’t think it’s going be that long for you.  I mean whatever it is, it’s not life ending.  It’s not the end of the world.  Okay?

Column three, column three, you’re going to write on the top “risk management.”  Risk management.  Now these are all of the things that you could do before you start that business that would reduce the possibility of the worst-case scenarios happening.

Risk management.  We’re going to call it.  For example, you could’ve taken a class or read a book on how to run a business.  That would certainly mitigate your risks.  You could’ve interviewed someone who has built a successful business.

You can ask them, why are you so successful?  Then you can also ask them, what should I watch out for?  What are some of the things I shouldn’t do?  What are some things I should never do?  What are some things that will be the death of my business?

You can ask a successful businessperson those types of questions.  It’s actually very effective strategy where you could hire a business coach or a consultant or a business manager.  Or you could seek out a mentor and get guidance and advice from those professionals that will certainly mitigate some of the risks or even a lot of it or even all of it.  Who knows?

Or you could’ve done market testing.  You could’ve market testing for the demand and of your product or your service probably very much overlooked.  I mean a lot of people go into business thinking they got a great idea and they invest all of this money.  Then they put it out there to the world.  It turns out that the world is not interested or maybe you just relied on the opinions of your friends and family.  They said it’s a great idea.  You go out there to the rest of the world and it’s not such a great idea.  You do market testing that could eliminate a lot of the risks.  Or you can consult a lawyer to set your business entity properly for proper protection in case you get sued, in case you have a lawsuit so that they wouldn’t wipe you out even if they won.

Okay?  So consulting a lawyer could be one or you could start the business small.  Start business off really small with limited resources and see how it goes.  If it gains any momentum, you can build on that or start the business online where the overhead is much lower. You could do that as well.  It’s a great place to start new business ideas.

So those are just some of the things that you can do for risk management.  Okay?  Now in column four, I want you to write “best case scenarios.”  Best-case scenarios are going to be the header for column four.

Now the number one, the business is the success that you thought it would be.  Maybe that’s your best-case scenario.  It turned to be exactly how you’re hoping it would and that it was a success.  Or maybe the business is even bigger you thought it would be.  It’s a huge success.  Maybe that’s your best-case scenario or maybe some bigwig comes along and offers you millions for your business.  Now you’re on a roll.

Island in the tropics, sipping fruity drinks.  Maybe that’s your best-case scenario so you have your four columns.  You have your worst-case scenario in column one.  You have your recovery time in column tow.  You have your risk management in column three.  You have your best-case scenario in column four.

Now I want you to look at, if you were to apply and implement everything that you wrote down in column three.  Under the risk management column or in other words the education column, if you did all of that, what would be more likely?

The worst-case scenario or the best-case scenario?  Without a doubt, the best-case scenario would be more likely if not more significantly more likely but it definitely is more likely.  You see risk and fear can be managed if not virtually eliminated through education.

Alright?  Let me ask you this now.  Was death by starting a business anywhere in there?  I mean I supposed in a very freakish way it could happen.  But when was the last time you heard someone dying because they started a business. I never have.

But let me ask you this, when was the last time you heard about someone dying in a car accident?  That one, maybe that wasn’t too long ago.  Right?  Maybe that was actually today while you were watching in the news.

You see driving a car is super risky. People die in car accidents daily.  In fact, it’s the number five killer in the United States.  We as people get up everyday and drive cars.  Don’t we?  Everyday.  Why would we put ourselves at such risk everyday?

I mean we did put our kids in the backseat on the way to grandma’s house.  Why in the world would we put ourselves, not just ourselves, but also our family at risk?  Why would we do that and not start a business?

Why would we do that and not approach the opposite sex for a date?  Why would do that and not invest in real estate?  Why would we do that and go out and ask our boss for a raise?

Why would we take on the daily risk of driving?  The number five killer in America and not dare risk to pursue our dreams?  I mean when was the last time you heard about a dream killing someone?

You know the reason we get into those dangerous cars every single day is because we’ve learned to manage the risk of driving.  Haven’t we?  Now as I walked you through that exercise and you could work some of the precaution we would take to manage the risks o starting a business.  You could insert whatever you want into that exercise and the risk can be managed in the same exact way.

Fear can be virtually eliminated in the same way through education.  Now the reason we get into those dangerous cars every single day is because we’ve learned to manage the risk of driving through education.  Right?

We all went through driver’s education where they went through high school or you took a private course.  You all started there.  You’re probably nervous as well to get started or to get behind the wheel.  You were scared but you learned the rules.  You got educated on the rules. We all obey the rules of the road.  We stay on the right side of the road.  We stay approximately the speed limit.  We keep both hands on the steering wheel. We keep our eyes on the road.  We stop at the red.  We go at the green.  We turn our blinkers.  We’re able to manage the risks because we got educated on how to drive.

Now imagine if you could manage the risk within the pursuit of your dreams in the exact same way that you managed the risks of driving a car.  I mean to the point where it became second nature.  Here’s what I mean by that. I mean today we text while driving.  We put on our make up while driving.  We talk on the phone while driving.  We shove French fries in our mouth while we drive.  We multi-task while driving.  We don’t give it a second thought.  Why is that?

It’s because we educated ourselves on how to drive.  We’ve done it so many times that it’s becomes second nature.  Hey I’m not endorsing multi-tasking while driving.  That’s extremely dangerous.  The point I’m trying to make it is though through education and repetition, the fear of dying by car crash has been almost completely eliminated.  Hasn’t it?

I mean if you had that fear would you be texting while you’re driving?  Would you be eating while you’re driving?  No.  I mean we don’t even think about it.  Education has disappeared that fear.  I mean what if you apply as much as time and education to learning how to achieve your dreams as you did learning how to get from point a to point b in your car safely.  I mean if you could capture your dreams with as much as safety and certainty as you drive a car, what would you choose to do?

Where would your dreaming and achieving end?  What did it ever?  I mean would your thirst for realizing your dreams ever be quenched?  So this is my invitation to you to get educated on how to move your dreams from fantasy to reality.

How to eliminate the fear by virtually eradicating the risks through education. I’m inviting you to do that.  If this is resonating with you, you’re invited to join my coaching students and me as we creating their customized dream plans.  They’re Do Over plans if you will for 2012.

We’re going to do that on Thursday, December 29, at 530PM.  The session is Be Extraordinary in 2012.  Where I came up with that title is I’ve noticed that ordinary people spend more time planning their summer vacation than they do their lives.

That’s what ordinary people do. I don’t want you to do that.  You’re not ordinary.  You’re extraordinary.  You can have an extraordinary life.  So during this session, I’ll be showing my coaching clients how to attain their dreams as easily and efficiently as they drive a car.  You’re invited.  I’m only extending this invitation to my podcast listeners.

I mean other than my coaching clients of course but only to my podcast listeners.  Now these are my annual coaching clients who paid all your long for coaching but it made sense as the Webinar is going to be online anyway that I could invite you to create your 2012 plan also.

I want your 2012 to be extraordinary also.  If any of you remember, it’s the same year in life event that I conducted last year of which the participants paid $397 for the full day with me but since I’m doing it online this year, I don’t have the overhead. I don’t have to pay for the venue. I don’t have to pay the extra hands to run the equipment and all of the stuff that comes along with producing a major event like that.

I don’t have those expenses.  So I want to make this Webinar available to all of you but at the same time I’ve got to maintain some equity among my coaching clients because you know they’ve paid a considerable sum for private coaching with me. So to maintain that equity and to keep it fair, I have to charge something.

So I’m going to slash the price by 50%.  I’m just going to cut it in half form $397.  I’m going to cut that in half but then I’m going to cut it in half again.  Okay?  I think that’s fair to my coaching clients.  As fair and very reasonable for you if you don’t want to participate in private coaching and pay what they paid.

So if you’d like to register for this two-hour Do Over plan webinar Be Extraordinary in 2012.  Create a step-by-step instruction manual for your 2012.  You can register at DoOverPlan.com.  DoOverPlan.com.

If it’s a better year that you want, if it’s a better life that you’re thirsting for, I’m extending that invitation to you.  I’ve never offered anything like this over this podcast before but it’s the end of the year.  It just kind of feels right to extend this invitation to you so if you want to join us, feel free.  You’re welcome.

On December 29th, I’m delivering the water but it’s up to you to drink it.  I can lead you to the water but you’ve got to do the drinking.  Okay?

It’s the plan that’s gotten me to where I am today.  It’s the simple plan that works with unwavering consistency.  I’ve refined it to the point where it’s really plug and play.  It works for whoever applies it and they enjoy the process.  I’ve found when people enjoy the process they tend to follow through.

So go to DoOverPlan.com and bring your dreams and we will transform those and will take them out from the fantasy world and make them reality.  December 29th.  Be extraordinary in 2012.  What you’re going to discover is what inevitably holds most people back isn’t the quality or the size of their dream.

So bring your big dreams.  That’s not what holds them back.  What holds them back is the lack of faith that they have in themselves.  It’s the risk of virgin.  It’s the fear of failure.  It’s the very stuff that we discuss today.

Your biggest obstacle to the road of realizing your dreams of your Do Over is the belief that the dream is beyond reach or more specifically beyond your reach.  You don’t believe it.  You can do it.  You see that other people do it and sure they can do it but why not you?

I don’t know.  What we’re going to do though is we’re going to draw such a clear and believable map.  Road map of which all of you have to do is follow it and stay on the road.  It will be so clear that you won’t need faith.  You won’t need belief.

You wont need it because you’ll see the road.  As they say seeing is believing so if that’s resonating with you in any way, go to DoOverPlan.com.  Register for Be Extraordinary in 2012.  If for any reason you determined it wasn’t worth it.  I mean it comes with a 100% money back guarantee immediately.  No questions asked.

Okay?  DoOverPlan.com.  Merry Christmas to you all.  God loves you. And so do I. I am Matt, the Do Over guy.  I will see you on the next episode of your Do Over.

Announcer:  Thank you for tuning in to Your Do Over, where the ignored, underestimated, and unknown steps to producing results and making life work are revealed. And remember, knowledge is potential power. Take action on what you learned today. This is not your learn over. It’s Your Do Over.

To view the resources referenced in today’s show and to retrieve a complete show transcript, visit www.TheDoOverGuy.com. Stay connected with Matt, the Do Over Guy, Theriault on Twitter at TheDoOverGuy and on Facebook at www.facebook.com/dooverguru.