Decide What Is at Stake Before You Begin

Nothing is sure in life.

When you start something new, it may fail or it may succeed.

I recently read about a founder who put in $12 million over several years, into running a startup, that he thought could compete against Asana, a venture funded startup. Most of it was out of his own savings.

He wasn’t very happy in the end.

Many entrepreneurs run like this for years, putting in money, health and time.

The success and failure depends on a lot of factors but there will always be factors that are out of your control.

For those scenarios, it is wise to decide before you begin, what you are willing to put on stake.

Some things should be easy.

Like never putting your health at stake.

But also put a cap on money.

Tell yourself that this is the budget I have for the experiment and I won’t go beyond it.

Take risks equal to the size of your dream. And some risk is essential for big gains. But don’t risk your future for this.

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