The Multifamily Wealth Podcast
#192: A Mental Reframe To Reduce The Fear When Taking Risks... "What Happens If This Works Out?"
Oct 20, 2023
The podcast discusses the fear people have when taking risks in business or investments. It emphasizes the importance of considering the potential upside and using fear setting to make decisions. The episode explores analyzing risks and overcoming fears, and highlights the benefits of taking risks in investing and increasing earning capacity.
11:35
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Quick takeaways
- Analyzing the potential upside is crucial when making investment decisions and can help overcome fear-induced paralysis.
- Taking risks, particularly in real estate, can provide valuable lessons, experience, and long-term benefits, especially for individuals in their 20s and 30s.
Deep dives
Analyzing Risks and Overcoming Fear
In this episode, the host discusses the importance of taking risks in business and investing, and how fear often holds people back. The speaker emphasizes the need to think about risks from a fear standpoint and consider the potential upside of a decision. It is highlighted that while protecting the downside is crucial, analyzing the cost of inaction is equally important. The host encourages listeners to analyze the season of life they're in, consider the risks they can recover from, and challenge their fears by asking questions such as 'what happens if this works out?' This mindset shift can help remove fear-induced paralysis and lead to more confident decision-making.
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