Investing vs. Gambling In Business

At the end of the month, I will sorta be playing in the World Series of Poker in Las Vegas. I say ‘sorta’, because I will not physically be there . However, I will have the chance to win hundreds of thousands and possibly, millions of dollars.

If things go right.

I am staking a person I know in the area to play in the most famous poker event in on the planet. Staking means, I giving him a certain portion of funds to cover his entry to the event. I get a share of a percentage of any winnings according to our contract.

If you do not know by now, I do not like to waste money, but this is indeed a risky move I do not typically do. But, there are a couple of reasons, my money is flying out to take a chance.

First, it is money I can afford to lose

I hate gambling myself. I get no enjoyment of watching a machine or casino employee take my money away. Leaving me with only hope that it may return. Not my idea of entertainment. But with staking my friend, I have money I am letting someone else, someone more skilled at gambling use. I still do not expect it to come back, but at least I am not sitting there for hours like he will be.

Second, I know my player has a system how he plays poker

It does not mean he will win or be one of the finalists, but he has played professionally for a number of years. He can calculate the odds of how much he should bet compared versus losing or winning a hand of poker. While it is still a risk, I am confident that he will make calculated moves with our money.

What I see many people do when gambling, is they get caught up in the thrill of the chance to win it all.

They see the glitz and glamour all around them and just want their shot at it. So they will pump money into machines while they drink free water downed cocktails. Or sit at tables, trying to beat the dealer, or the wheel, or their bad luck for all these years.

Billions are made every years by the casinos from these types of people.

I understand the allure. I tried it. It didn’t work. I didn’t like it. I quit playing those losing games.

Now I see almost the same attitude from people when trying to start an online business. They see all the images of fancy cars, mansions, vacations. Then the promises that if they just pay for someone’s course or new software, they too could be living the good life. So they give hundreds or thousands of their hard earned dollars hoping they have ‘good luck’.

I understand the allure. I tried it. It didn’t work. I didn’t like it. I quit playing those losing games.

If you are going to start an ecommerce business, there will be risks. The only way any of us should begin an online ecommerce business is to have a system. A system that gives us the best chance to beat the odds.

That is what I did when I started buying $.50 toys and selling them for $30 on Amazon.

I got the toys cheap enough that even if I failed, it would not mean a big financial hit for me if they did not sell. It is the same system I use today. I may be able to afford to risk more (umh Las Vegas baby). But I still have in my bones the lessons learned from my past. Never Lose Money.

If you are still wanting to get started selling profitably on Amazon and need a method you feel is safe, then please get my Amazon Ecommerce Quickstart Guide here

You can start small, like I did, and move up as you get better at product selection. Remember, it is not about your skills as a business genius the way I show you. It is about putting your money into getting products you already know will sell for more than you pay for them.

It may not be as exciting as Las Vegas, but it is nice to see daily profits roll into your account. That will always be my preferred method of entertainment!

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