20 Comments

April 22nd, 2008 @5:56 pm  

Risk taking is a very important part of business, everyone in business has to take calculated risks, like it or not.

I really feel it’s one of the most important things to master in your business, so I’m glad you did a post on it.

gokarter Said,
April 22nd, 2008 @6:17 pm  

Great post Ruck you hit the nail right on the head with this one.
This is Prolly one of my stumbeling blocks that I need to over come.
I have taken risks before and gotten burnt , so now I’m a little gun shy.

Brandon K Said,
April 22nd, 2008 @7:35 pm  

Risk is a very important topic for me. I am developing a business plan that aims to acquire and optimize existing websites, as well as some affiliate marketing. I will be using investors money to do this, and I intend on raising 30k in my first round of funding.

To accomplish this I am developing a very detailed business plan that spells out all the processes and procedures needed to be successful. At times I feel frustrated and want to say “screw it” and go chase the latest trend. Yet, my time is limited so I must stay focused on my business plan to get it completed. Am I over-analyzing? I don’t think so. I intend on risking 30k of investor money on buying websites. I need to have a well laid out plan.

Risk mitigation is a large part of my plan. Figuring out ways to minimize risk. This is what I am selling to my investors. In theory they could out out and buy websites themselves. However, I have done the research required to understand how to minimize the risks.

I agree with you Ruck that money is needed to begin working online. It takes money to make money, and online is no exception. There are PLENTY of ways to make money online without money, but you had better be prepared to WORK.

80sfilms Said,
April 22nd, 2008 @8:41 pm  

“While it’s a good thing to calculate risks, it’s a bad thing to over analyze them to a point that you talk yourself out of taking one.”

Sounds like up until a few months ago when I avoided PPC as a way to make money online.

Good post!

April 22nd, 2008 @9:58 pm  

Time = money, so money is just a shortcut so you don’t have to invest so much time.

And I agree - that shortcut should be considered more by a lot of people. People need a good income more at 40 than at 80 :-)

henrry134 Said,
April 22nd, 2008 @10:52 pm  

I agree with you Ruck that money is needed to begin working online. Yes…risk should be taken to get the better results in the world of internet marketing that really help you to grow very high.

Solvetheproblem Said,
April 23rd, 2008 @12:58 am  

Ruck,

May I recommend the book:
Against the Gods: The Remarkable Story of Risk.

Well worth the time to scan it anyway. Many important concepts in the book. Best I think for those who cant even define what risks they might be taking or how to neutralize whatever unexpected consequences of a course of action you might encounter.

Solvetheproblem

mo Said,
April 23rd, 2008 @2:41 am  

great post and well timed Ruck. I too feel that Risk is a HUGE factor if you wanna really make the big bucks online. And as stated before, you must take the RISK (calculated ones are best) in order to gain the experience needed to succeed. Everytime I felt that I have been burnt I would just look at the whole situation and figure where I went wrong. 9 out of 10 times, I saw where I made the mistake or bonehead move that caused me not to have a 100% favorable outcome.
Find the positive that came out of the experience and use it to make wiser decisions in the future.(this minimizes the risk in the future).

To make it big, you MUST be willing to take a risk. Are you gonna soar with the eagles or peck with the chickens

Good stuff Ruck!

April 23rd, 2008 @3:31 am  

You know Ruck,

anyone could start online w/o much money saved up, but they have to get focused about a reasonably-reachable niche, be extremely passionate and remarkable, and then be disciplined enough to not spend any of that money besides reinvesting in the next project. None of those are easy and it took me about 2 years, but I went from literally nothing and actually in the hole, to moderately successful.

Ruck Said,
April 23rd, 2008 @3:48 am  

@dangerlarson - Remarkable comment and it applies completely to myself. I started online..in debt already. I see it time and time again but to actually witness people going from in the hole well, it’s almost like they are inhuman with that amount of focus, ethic and dedication. I believe it’s possible for anyone but it takes a tremendous amount of ethic, perseverance and dedication.

SkyWatcher Said,
April 23rd, 2008 @6:13 am  

Hey Ruck,
This feels so true in context. I’ve been ripped-off so many times online by the make-money-quick BS that I felt it wasn’t legitimate people who make money online but now I’ve got guts to start and take risks!

XRay Said,
April 23rd, 2008 @7:48 am  

Awesome post, Ruck. Right up there with the fear of taking a risk, is a serious lack of confidence and lack of persistence. Too many people give up (too) easily because they didn’t believe it was really possible for them to make any money online in the 1st place.

VoiceHero Said,
April 23rd, 2008 @9:32 am  

Risk taking should be balanced - as everything else in business and your personal life. If you have no clue of what an opportunity is about in detail or don´t know the market - just skip it and stick with something you know. Just look at the subprime mortgage crisis - although it happened all before, they did it again. Markets and many individuals don´t have the memory. Make sure you are on the right side of the thin line that separates failure from success.

John Said,
April 23rd, 2008 @10:52 am  

I don’t want to sound like a gay but Ruck, your “stuff” is so great I love you. You are absolutely one of the kind. This is my “love mail” dawg.

Your blog is far better than those $97 ebooks on sale out there dude. No reason not to love ya’. Dang, I am new but am making sales already this month.

And with your tips and tricks, i believe it would not be long for me to shoot to 1k per month in the next few weeks.

Yoo hoo
Ciaoz

D Said,
April 23rd, 2008 @4:03 pm  

What is an average Ruck day like?

efunk Said,
April 23rd, 2008 @8:30 pm  

hi im very new to this whole online business and affiliate marketing. i would like to say i really enjoy reading your blogs. I was wondering what would it take to be a successfull blogger ?

Ruck Said,
April 23rd, 2008 @9:26 pm  

Hard Question to answer. If you consider a successful blogger as someone making an income from their blog, then this one is one of the worst ones ever made. If you consider a successful blog as a networking tool and helping others make money online, then I would say this one is great :)

Just to blog in general takes an incredible amount of willpower, motivation and dedication.

anks Said,
April 24th, 2008 @6:13 am  

Ruck,

To add to ur point i would say that Risk is not limited to only in monetary terms. An entrepreneurs has some mental Blocks deep down. As Gokarter truely said. I have a strange mental Block. Most of u might have. It is that i am an MBA in Finance. I am a Financial Analyst.

Now when i think about IM, My subconscious mind tells me Hey Man, you a finance guy what the hell r u doing in Marketing?

Now i am trying programem ma mind and thoughts that though i am guy of Finance i still can do Marketing, and very successfully (Ruck Do not be Envy… LOLz….).

So the morale of the story is that “Never let ur ambitions controlled by ur mental Blocks. Rather block these blocks that blocks ur way to success. ”

Happy Blocking. And Ruck Keep Blogging……. Lolz

Good day to all……

Regards
Anks

April 29th, 2008 @9:31 pm  

Taking the risk to invest in many online products/services/programs is the only reason that I am in online marketing today. Now after all the risks I’ve taken I have about a dozen websites all making money for me… never would have seen this day if I hadn’t taken any risks!

Great post!

June 7th, 2008 @3:29 pm  

Also another thing is that people expect instant gratification, etc. Instant results, but with anything that is good, takes time to develop. It’s like marinating meat. You have to be patient, and wait for the meat to absorb all that juicy goodness. But if you are patient, and don’t give up on waiting, then you just might find the results you were looking for. Patience, hardwork, and efficiency is the name of the game when it comes to success online, if you ask me.

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