Lessons Learned From The Gambler

With all the jamming that we've been doing, I was listening to Kenny Rogers' The Gambler. Inspiration comes in strange places. I bet you never thought there would be business lessons learned from The Gambler. OK some people think gambling is a business. The Gambler set out to make a lot of money. Whether you want to make money online or offline, the bottom line is the same. The bottom line is to earn money and lots of money!

First thing is to build your capital. Do whatever it takes to make enough money that you can successfully start a business. Just like the Gambler, you don't want to go to the table with 12 cents. You are looking for failure. Take on a job just to make enough money that you can put away for starting your business. Or if you are already in business, put enough in savings before you expand. Like I've said here before, you need to divide the money you have coming in or that you make online into five sections. Then you have the money you need without risking anything. It will be slow at first, but it will pay off. Make a plan.

Let's say you start off with $500. Not a lot of money but possible to start an online business. You keep reinvesting your money into the business until you reach 20 times that amount. In this case, that would be $10,000. Now you have enough money to make an expansion of your business or move to the next step in your business without risking your initial investment. If you start off with more money multiply it by 20 to get your target for the next phase.

Test your plan. If it is successful, repeat the test. Continue testing and repeating your plan as you build your income. If the test is unsuccessful, adjust your plan. It is easier to make adjustment while the business is small. The refinement of your plan makes for a smoother running business. The worst thing that could happen is that you end up spending a few hours of your time and end up with no profit. It's better than risking lots of money and losing everything. Track your progress. Sure it takes time to track, but it's better to know where you are than realizing too late that you've lost everything.

If you end up with no profit after you have made your plan, tested it and adjusted it. Quit! You still have your original investment. In the words of Warren Buffet about the stock market, "Never lose money." His second rule is "Never forget Rule #1." As Kenny Rogers said, "If you''re gonna play the game, boy, ya gotta learn to play it right. You got to know when to hold em, know when to fold em, Know when to walk away and know when to run." So take your money and move on to the next business opportunity. Make your plan, test, adjust and repeat. Never give up as long as you retain your initial investment, you're ahead of the game.

Every business is a winner and every business is a loser. Just like the Gambler, you have to learn what part of your plan is the part that is working and what part to throw away and adjust. That is the secret to surviving in business.

If you're doing good and making a profit, stick with it. If you have the advantage, know when it's time to pull the money out. You are always using some of your capital or profit toward building your business. Never forget, the road to success is always under construction. Building a business and making money online requires patience. Keep it low key until you're flushed with money and you have the advantage. Sieze the day!

When the dealing is done, it's time to count the money. Hope you find an Ace that you can keep.