That’s because, to start with, the “reality” TV shows that the couch potatoes suck up are usually not real. But the REAL reason why your life isn’t a Reality Show is because it is real.  There are no cameras,  medical support teams or scripts, and things can and do go wrong in the real world.

When people watch movies and someone goes from pauper to prince twice in the spam of 120 minutes, they seem to become conditioned to the idea that nobody can really get hurt or killed, everyone must end up winning and becoming famous, and so on. They learn the same things from some  seminars that assure them that they can’t lose money or get into trouble by becoming “real estate investors,” when, if fact, it’s an extremely risky endeavour, especially when you’re using someone else’s money.

The real world can be very rewarding when one adheres to some basic, proven principles, which, of course, are seldom followed by starry eyed “entrepreneurs” who base their beliefs and expectations on seminars, reality shows, and movies.

  1. Never invest or spend more money than you can afford to lose.
  2. Never try to do something you don’t like, don’t believe in, or are not good at. Never violate your values.
  3. Never take advice from people who haven’t a proven track record.
  4. Never do something that your spouse doesn’t approve of or want you to do (he or she will sabotage you and blame you if it doesn’t work.) Also, sometimes our spouses (especially our wives,) know us better than we know ourselves.
  5. Never incur overhead costs, sign leases, buy/lease expensive inventory, or sign up for advertising programs or rentals until the business has proven itself, and, even then, always ask yourself if you can carry those ongoing costs after the business fails, if it does.
  6. Never put all your proverbial eggs in one basket. Create multiple income sources and spread your risk, diversify, and avoid the stock market.
  7. Never leave all your money in one bank account or format.
  8. Never make an overnight or instant decision. Take time to think things through. Don’t be one of the sheeple course junkies that runs up to the front of the room to buy overpriced, “discounted” offers from conmen.
  9. Never trust people simply because they are family, members of your church, or went to school with you.
  10. Finally, never take advice from losers, pessimists, naysayers, employees, stock brokers, financial planners, or bank managers regarding business opportunities. Avoid those with a vested interest in shooting down your options.

There are many wonderful ways to make money, create financial freedom, and grow as a person, but many fail, turn into Ponzi Schemes, or simply fizzle out. Be aware of your timing, risk, motivation, and values. Everything in life is risky, there are no guarantees, and nothing lasts forever. Nobody can predict the future or the choices other people will make, people change, and the market and economy change, so be clear-eyed when evaluating any business opportunity.

Robin Elliott   LeverageAdvantage.com