Inside the Mind of Your Favorite Bartender

Low risk, high reward

What do Warren Buffet, Floyd Mayweather and Bishop Don Magic Juan have in common? The theory of low risk, high reward. Wow, Buffet, who actually attached himself to Mayweather at some point is being mentioned in the same breath as a pimp? It gets interesting.

One of the Bishop’s mantras is, and I am paraphrasing here, “don’t get with a woman you like, get with a woman that likes you.” That’s heavy shit. The reasoning for the Bishop saying this is that you have to go more out of your way, including maybe spending large sums of money in pursuing a woman you like. However, if a woman likes you, she is more likely to give you whatever you want, including money. Damn Bishop, I like that strategy! Gotta try it out sometime. Low risk, high reward.

Buffet is notorious for investing, through Berkshire Hathaway, in proven companies that have long term benefits. Rarely does he invest in risky start-ups or tech based companies that are unproven. For Buffet to invest in a company, whether it is performing poorly or successfully, it has to be proven that it can make money consistently. Look at where he puts the majority of his money. Coca-Cola, GEICO, Bank of America, etc. These are all proven businesses that have stood the test of time in good times and bad. Low risk, high reward.

Same thing with Mayweather. After dominating at 126 lbs, 130 lbs and 135 lbs, where he took considerable risks, Mayweather moved up briefly to Super Lightweight (140 lbs) and eventually on to Welterweight (147 lbs) and Super Welterweight (154 lbs) where he became a megastar and the highest paid athlete in all of sports. How’d he do it, low risk, high reward. Sure he got criticized for it. Some called him a coward, boring and claimed that he ducked fighters in their prime, like Oscar De La Hoya claimed in a recent open letter to Mayweather, but he made out like a champ financially just as he did in the ring. Low risk, high reward.

The question becomes, how can one apply the theory of low risk, high reward to their everyday lives and become successful? The first step, in my opinion is to know what you really want to do in life. Mayweather wanted to box, Buffet wanted to invest and Bishop wanted to pimp. Simple enough right, know what you want in life.

Next, you have to build a team. Mayweather has The Money Team, Buffet has the Berkshire Hathaway staff and Bishop has his hoes.

Now that you have your team, put the work in. Always look for opportunities to improve yourself through your chosen craft. Spend every waking moment seeking ways to be the best at what you do. This is what separates the best from the pack.

The final step is to not give a fuck what others think or say about you. Blaze your own path and do not apologize for being you. Just be you and let the rest take care of itself. That’s how you master the theory of low risk, high reward. Sounds easier than it really is, but the main step in all of this is putting the work in. Don’t get lazy and think this shit is just going to fall out of the sky because it is not. Work! Even if you are taking the path of least resistance, you still have to work.

One of the best analogies I can give is that of wild animals. Lions just want to be lions right? They have no concept of wanting to be a bird or wanting to be a deer, they are naturally programmed to be a lion and they act according to their nature. They form a pride and when its time to eat, they exert the least amount of energy to acquire their food. Sure they have to work, some research and development (studying their prey), some marketing and promotion (instilling fear in their prey) and the payoff (killing their prey).

Decide what it is that you want to do, who you want to be and stick to it. Form a team and put the work in to acquire the biggest reward with the least amount of risk.

 

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