If you are planning to get anywhere in life, you’ll have to take risks. Remember the old saying “Nothing ventured, nothing gained?” Well…it’s true. You’ve got to have bet something, gambled, put something on the line, something of importance and something worth a great deal to you. If you are to succeed, you’ve got to believe enough in your venture to put it out on the line, winner take all attitude.
It takes courage to venture out, to put your money, reputation and time into your new venture. It takes courage when everybody else is telling you, "you are wasting your time." But is it necessary? Yes, every time it is necessary. You must believe wholeheartedly in your project, business or new venture. You should ask this question and ask it frequently. Am I willing to risk my money and time?
Over the years I have been asked to participate (invest my money) in projects others have proposed to me. Some of the people were businessmen, entrepreneurs you could say, some young, some middle aged and some old. The first thing I ask someone who wants me to put up my money into a project is: “How much of your own money have you invested? When the investor says, “I have a lot of time in it.” I say, “Goodbye.” If the investor gives me a miniscule number, a low number that wouldn’t hurt if he lost his investment, I usually say, “Goodbye.” When an investor comes to me and has a significant amount invested, which is his own money—this tells me he believes in what he is doing and he is willing to put it on the line to make a success of it. This deduction is more commonsense than anything else. It shows confidence, faith in his abilities to deliver the goods, a good attitude that he is willing to take personal financial risk to better himself. By investing your own capital and a great deal of time, working day and night, you show the world you are serious—you show the world that you believe in what you are doing.