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Loss Aversion

Loss Aversion

A word that goes along with loss aversion is “complacency.”

Whenever we start out with something new in life, whether it is a new job, a new project, or a new business, we go hard.

We put everything out there on the table, because we want to succeed.

 

We also know that the obstacles that are facing us require that forward and bold movement.

But down the road, once we get our new practice or business going, we can breathe for a minute.

And, this is when we risk becoming complacent.

It’s human nature, unfortunately.

This is also when we start to become risk averse.

We become averse to losing anything.

We get something that works pretty well, and then we become fearful of going down the same path that we were on when we first started.

This is a big mistake.

There is nothing wrong with taking some chips off of the table, but to take our foot off of the pedal is when we become stagnant, and we plateau.

If we become stagnant, we will stay on that hamster wheel, and never shoot through that barrier to true freedom.

This is what happens to many entrepreneurs and well-educated professionals.

We lose that entrepreneurial spirit easily when we become complacent, and don’t want to risk what we have built so far.

We need people to push us and keep us accountable.

And, we want to mitigate risk, but by losing that forward momentum, we actually lose the opportunity for real freedom.

Think about your life, and where you have let your foot off the pedal.

Where you were too afraid of losing what you have.

Take a look at where you are today, and then take steps forward.There is nothing worse than becoming complacent and risk averse, if you want true freedom.

 

To your freedom,

David

 

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