6 Keys to Getting Rich: Part 2 Take Risks
In most circumstances the only difference between the employee and the owner of the company is the ability to tolerate risk. On the other hand, there is a tremendous difference in taking risks and gambling your money away.
In 1988 Charles Givens wrote a book. The title of the book, Wealth Without Risk. Some of his strategy drew a lot of heat. They were decried by many as too simplistic and by others as containing self-contradictory advice. For example one of his strategies stated your shouldn’t invest in vacant land. Then 39 strategies later he encourages placing your IRA or Keogh money in vacant land.
For many that was a completely contradictory statement. To me, it simply said, neither investment was good, but land was the lesser of the two evils.
When Givens died in 1998 he had structured his estate in such a manner as to preclude any of the litigators who had sought to attach his wealth from getting much of it at all.
However, the lesson learned from Givens is not about following the advice he offered. The lesson to be learned is about risk taking.
Charles Givens (love him or hate him) all but singlehandedly created a new market. The infomercial.
He began by putting together a string of video interviews he had done with several news shows and developed them into a totally new concept. That is the epitome of risk taking.
It may be the secret to your tolerance level for risk is to find the risk which matches your temperament type.
Sanguine Temperament.
Take risks that allow flexibility, capitalize on enthusiasm, use demonstrations, are people oriented and create an opportunity to be the center of attention.
Choleric Temperament.
Take risks that capitalize on the ability to be decisive, being self confident, provides high levels of control, in a get to the point, task oriented manner.
Melancholic Temperament.
Take risks that are designed for the long haul pay off. Acceptable risks are those that can be minimized by your innate ability to plan, organize and enhance with step by step, logical facts and structure.
Phlegmatic Temperament.
Take risks that are evenly shouldered among all stakeholders. Build upon like minded relationships with those who also place high value on loyalty and team success.
Supine Temperament.
Take risks that invest in your belief in others. You have an inborn ability to see the high potential in those around you. Capitalize on this by providing the support network those worthy of your confidence deserve. But, be certain to have provided an agreed upon return your investment of support in advance.