Tuesday, September 20, 2005

Don't Be Scared to be a Millionaire

Are you TOO SCARED to be a millionaire? A recent article at NewScientist.com says - "Probably!" I remember many phone conversations when I was publishing my print newsletter analyzing home business opportunities. They'd call wanting to know the "next great thing". I suppose I could have started a stampede if I'd wished. But it wouldn't have lasted long. These were the folks who thought that buying a distributor kit and making an initial purchase would result in riches because others would flock to the opportunity and they'd never have to learn any new skills. I thought of these folks when I saw the article. They were risk averse. Riches came from getting lucky instead of work. I thought of those calls when I read this article. This article states - based on contestants in the show "Who Wants To Be A Millionaire?" that most who apply to the show and thereby identify themselves as wanting to be a millionaire are too risk averse and would get more money if they took more chances. The problem with the article is the typcial bias of salaried scientists who never have to risk a thing in their lives. They equate becoming a millionaire with GAMBLING. The implication is that all millionaires are gamblers... some just chose a franchise instead of a roulette wheel. In my mind, entrepreneurs usually take INFORMED and CALCULATED risks... not "what the heck?" risks. But read it and decide for yourself.

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Article source: http://1sthowtoworkathome.blogspot.com/2005/08/too-scared-to-be-millionaire.html

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