Good morning, friends, we are risk takers, we are entrepreneurs, we go out on a limb. We start building the plane on the way down. But I want to encourage you as you map out the rest of your year and into next year to take calculated risks. There are a lot of tools out there, including some on my blog that help you outline what is a good risk to take. And where am I going to set myself up for failure? The risk to reward must make sense. When you look at your budget, you’ll get your income and your outflow, and you can tell pretty quickly if they are not going to add up. Then don’t do it. Don’t move forward. One of my clients was telling me about a risk you took. He’s like, Yeah, you know, I saw the numbers for my outflow and I saw what I thought I might make on the income. But I jus,t I really thought it would work. I had it. I had beliefs that it would just go better than what the data was telling me. I didn’t listen to my advisors or the counsel that I had on my team, and I failed hard. And you know what? No shame in giving it a try. But when you take the risk, make sure that you put down on paper what it is going to take for you to make it work and also give yourself an exit plan. I’ll talk about this more tomorrow. If this doesn’t happen by this date, I will quit when you put that on paper and you give yourself an exit. This is the off ramp for me on this business. Now you have a deadline to make it work, and I believe you will make it work with that deadline. But you know what, if it doesn’t happen by then? Then drop it and move on to the next opportunity because success will follow you when you are working in your zone of desire. But if you are working on a business that simply is not going to take off, then the more time you spend on it, the longer you will spend away from your big opportunity. So take calculated risks. Map out what it’s going to look like. Put in an exit plan, and let’s talk tomorrow about when to kill a bad idea.

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Morning Memos

About the Author

Alex Branning

Alex started the Branning Group in December 2000, when he was only 17 years old. Since then, he has helped thousands of businesses and entrepreneurs and is now widely considered one of the leading high performance marketing coaches in the country. Alex has revolutionized the insurance and real estate marketing sector with his “Giveaway Funnel” strategy, and his trainings have been consumed by entrepreneurs worldwide. Alex’s books include “How to Grow Your Business on Pinterest” and “Insurance Super Agent”. He is followed by tens of thousands of entrepreneurs on Instagram and Facebook, his podcast has been rated as a top business podcast and his YouTube videos have been watched over 200,000 times. He lives in Redding, CA with his wife Kathy, his daughter Ali and their two pets: a brichon frise dog named Snow and a Holland Lop bunny named Foo Foo.

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