The Risky Player in the Game of Chance

P4-Win

You’re at the poker table, with double Aces and decided to raise by a large amount. Everyone folds, and you think.P4-Storm “Damn, I could’ve got more”.

I probably misled you with that statement, this isn’t a post of gambling. This is a post of educated risky maneuvers similar to sailing a ship in angry waters.The captain who is hopefully experienced can maneuver the crew to safety.

But what about the newbie captain in the corner?

I will be discussing about the entrepreneur acting as the risky player who takes chance into his own hands, the concept, the mindset and their action.But firstly…

What is an entrepreneur?

An entrepreneur is a person who takes risk through investment of a resource(s) in returns for profit. A common misconception is that small business owners are also entrepreneurs, majority is false as there are major differences in the style that they both do.

The idea is although they both own businesses, entrepreneurs wouldn’t mind selling their business for more profitable gain. Whereas the small business owner is less likely to sell their business. Additionally entrepreneurs are defined to more uncertainty in terms of the path than small business owners.

I could say that they are visionaries who maintains their own profitable gains. I disagree with that statement. A small business owner could also have the visionary properties as well as big growth mindset. This isn’t what differentiates an entrepreneur to a small business owner.

Interestingly enough, we could say that the small business owner wishes to change the world in the long run. What I distinguish between a small business owner and an entrepreneur is this.

Its the ability to travel to an uncertain path with severity and making a resilient mistake about it with no regrets.P4-Pathways

These people are what I respect as an entrepreneur in a core sense. To travel with uncertainty doesn’t have to be charging into a blind fog in an unknown area. Though similarly, its when the entrepreneur walks into the blind fog, being blinded thickly. The person uses a long stick and feels the ground as he travels. Feeling the ground carefully with every step. Stumbling towards a canyon the person heads back knowing that’s not a good path to take.

When the entrepreneur came back to his nomad crew, he didn’t come back as an foolish idiot despite the person heading first out of the group. Instead, the entrepreneur saved his crew from falling down a canyon if they decide to progress forward down the fog.

It’s arguable that it comes down to intelligence and resourcefulness in this case, but think about the decision that the single nomad took to progress ahead as a scout. We’re certain that there is a thick fog ahead and majority of the group who have close relations says to not do it. Heck, one of them probably called that single person a fool.

Also think of the uncertain risk that nomad took. What did that person gain?

The knowledge of that there’s a canyon ahead, directing the crew away from danger and saving time travelling to that path when that fog clears, if it clears. Also an innovative way of navigating through a fog through adversity.

A concept that I like to share is the “Three Elements” in not only entrepreneurship but in general. They are: Sales, Business and Technical ability.P4-Model

Sales is the ability to sell a product, persuade and win over a situation.

Business is the ability to solve a problem managing resources.

Technical is the ability to ‘do’, performing the task.

Lets go more in-depth with the definitions given. A person who’s a real estate agent has more sales ability than a tradesman who instead has more technical ability.

What about business? Everyone has business ability at different levels and fields, whether its street smarts, down to the project field. Furthermore everyone has these three elements however their strengths may lie in a different field.

It’s when the three elements have enough strength that it drives a large success factor in the job. The entrepreneur who’s usually running solo would rely on these traits for succeeding. I would say that business owners need all three. However personally, a portion only need sales and business to drive the job forward.

Each element is formidable on it’s own when focused. And there’s nothing wrong with that. Since throughout the individual’s career there may only be an exposure of two elements or even one.

The mindset between an entrepreneur and a toddler have similar attributes. Innocently in core, they both take daring risk, such as a toddler climbing a tall tree for the enjoyment. And they both have bold dreams.

The only set missing is the ability to execute with direction in which they are going. Excluding the complex thinking of long term, insurance and short term organisation of goals and a few other attributes.

So three ideas: risk, dreams and execution. 

Woah!

That honestly blew me away.

Lets go deeper on those three ideas. I’m going to state a sentence and have a think about it.

“I am going to take a risk and follow my dreams.”

Breaking it down like an English class back in high school. That simple sentence involves all three ideas. And that’s the mindset of an entrepreneur. Notice the word ‘follow’? Passion is a common trait in entrepreneurship and is what drives them forward in adversity.

Majority would say that is ignorant as there is lack of resources, commitments and skills involved. However I say, that’s where the uncertainty comes into play. Including the strength of adversity that the individual faces constantly. Through struggle, comes a choice.

Give up or Go forwardP4-Continue

When that individual decides to drill forward either success or failure, that individual will receive what is known as experience. As long no-one has died as a result and no-one has been harmed. Then that is in my perspective considered minimal consequence. Given a possibly huge debt. Revolves around adversity again to succeed in overcoming that obstacle.

Begging the question of How does one become an entrepreneur?  The truth is, the lady who’s now rich doesn’t show the hardship that she has faced. So my answer is to struggle, learn, and thrive forward. Reflecting on failures improving ones self.

P4-Hero
The risky player in the game of chance known as the entrepreneur. Drives forward, fails yet perseveres with resilience with that knowledge the individual has learn’t. And travels
with uncertainty ahead.

Like the toddler, we all are entrepreneurs. It’s the conditioning and adversity is what brings fear into becoming one. So I ask you the question once more.

What is an entrepreneur?P4-Question

Hehe See you in the next post.

Edward Luu

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