Learning how to manage risk.
Without risk management, it is impossible to ever truly scale in business. Managing risk is essentially the difference between a loss setting you back a few weeks vs a few years. Because make no mistake, you are going to take losses, its not about avoiding the loss, its about protecting your exposure to those losses. Thus, maintaining your upwards trajectory without any major pitfalls.
So how exactly do you learn to manage risk? The short and simple answer is understanding that most decisions are driven by two basic human emotions. FEAR and GREED. If you understand this and detach your-self from the emotional element of making business decisions (no fomo or analysis paralysis), your well on your way to understanding risk management.
Learning how to ask for help and learning to remain the student.
Seems simple enough right? However, if I had a dime for every time I could have avoided a bumpy ride by simply asking for help vs trying to “figure it out on my own” I’d be a lot wealthier than I am today. Moving past my own insecurities and ego, I’ve slowly learned to reach out for help when I need it and to this date, some of the biggest opportunities I have had presented to me, were a direct result of me asking for help. Its that simple, need help? Ask.
The second part to this is learning to remain the student. Growth is driven by the ability to learn and adapt, if I am not learning, I am not growing. When ever I get the opportunity, I ask questions and I listen.