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Gambling – Or Risk-Taking?
| Guest post by: Zig Ziglar |
Article Overview: There is a difference between gambling and risk-taking. John Scully says, “People who take risks are the people you’ll lose against.” A study of the first graduating class from the Harvard School of Business revealed that, across the board, these men were risk-takers. They would not pass a car on a hill or a curve, nor blindly go into a business venture. They assembled the facts and evaluated carefully from every possible perspective the chances of success and the benefits which went with that success. They understood there were no guarantees and that the possibility existed that they could lose. Nonetheless, they recognized that the possible gain was so much greater than the possible loss that they deemed it appropriate to take the risk.
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Gambling – Or Risk-Taking?
There is a difference between gambling and risk-taking. John Scully says, "People who take risks are the people you'll lose against." A study of the first graduating class from the Harvard School of Business revealed that, across the board, these men were risk-takers. They would not pass a car on a hill or a curve, nor blindly go into a business venture. They assembled the facts and evaluated carefully from every possible perspective the chances of success and the benefits which went with that success. They understood there were no guarantees and that the possibility existed that they could lose. Nonetheless, they recognized that the possible gain was so much greater than the possible loss that they deemed it appropriate to take the risk.
Gambling is a different issue. The dictionary says that risk is a "pushing forward, a rushing. It is to be bold and hearty." Gambling is a far more hazardous undertaking. Needless to say, some gambles are greater than others. A report in U.S. News & World Report revealed that casino slot machines represent long odds. Specifically, if you played the dollar slots every day for two months, the odds were two trillion to one that you would lose $1,000 before you won $1,000. That's not gambling. It's a cinch that if you play the other person's game long enough you are going to lose. Washington said, "Gambling is the child of avarice, the brother of iniquity and the father of mischief." Think about it. Be a risk-taker, not a gambler, and I'll SEE YOU AT THE TOP!
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Article Tags: car on a hill, curve, first graduating class, guarantees, harvard school of business, john scully, perspective, risk, school of business
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