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Are You a Gambler? You Might be a Perfect Entrepreneur

ByAJ Agrawal,
business.com writer
| Last Modified
Feb 05, 2016
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> Career
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Entrepreneurs are special kinds of people.

They are the gamblers of our time because they shun the ordinary 9-5 job and decide to go into business for themselves.

If you are a gambler, you may be the perfect entrepreneur.

The Global Entrepreneurship Monitor U.S. Report said that 43 percent of Americans believe that there is opportunity for entrepreneurship in the current state of the economy. This shows that many people aren’t going into business because of a lack of opportunity elsewhere. They are sensing opportunity.

Related Article: There's a Type: Traits of Successful Entrepreneurs That You Can Develop

The True Reality of Gambling for the Entrepreneur – The Marked Deck

Nevertheless, don’t be deceived by the idea that all entrepreneurs are masters of sitting at a blackjack table or rolling the dice on a game of craps. It’s a myth to say that entrepreneurs like to spend some time in the casino. They may look like gamblers to the ordinary person in the street, but they are really playing with a marked deck.

The key is entrepreneurs take calculated risks, as opposed to laying everything on 32 red. Successful entrepreneurs know when to take a risk and when to stay out of the game. The ability to take calculated risks is what separates good entrepreneurs from bad ones.

Is Risk an Addiction for Entrepreneurs?

There is some truth to the idea that risk is a serious addiction for all entrepreneurs. Books have revealed that entrepreneurs have minds that work differently from those who work for others. Some have even gone as far as to demonstrate that they are at greater risk of addiction because of the way they work.

Nevertheless, the risk isn’t something that an entrepreneur loves. The entrepreneur simply loves the rush of a win. It’s an important distinction to make when looking at a business owner’s mental health.

This article has to make one thing straight before going any further. Gamblers are largely stupid people. The average gambler will lose money in the long-term. Successful entrepreneurs make money in the long-term. Gambling by its nature is a game that’s impossible to win.

Instead, entrepreneurs talk about risks. They want to minimize the amount of luck involved by exploring every possible avenue. Before you enter the world of entrepreneurship, ask yourself the following question: Are you addicted to the lifestyle of gambling everything you have or are you addicted to success?

Coming Back From Failure

One of the reasons why Las Vegas pulls in so much money every year is the core of gamblers that continue to wager and lose. The regular gambler is how these businesses make money. The reason why this core of gamblers continues to lose is because they fail to learn from their mistakes. One evening they will play five black on the roulette wheel and lose. The next evening, they will do exactly the same thing.

Entrepreneurs, on the other hand, learn from their mistakes. They don’t become angry and they don’t blame something out of their control. They look at what they did and they fix the mistakes they have made. It’s that simple.

The Romantic Notions – Get Rid of Them

So you think you can take calculated risks and regularly learn from your mistakes? That still isn’t enough to make you a good fit for being an entrepreneur. These are grounded individuals. They immediately throw off the romantic notions of running a company and having power over employees.

You need to enter this field for the right reasons. Do you have a great idea you think will make money? Or do you simply want the wealth and the power that comes with making a success of yourself?

Understand the hardship of becoming an entrepreneur as soon as possible. This will ultimately make you better suited for joining the ranks of the self-employed. This is not an easy life and most of the time you will be under a considerable amount of strain.

Related Article: Five Traits That Distinguish True Entrepreneurs from Everyone Else

Last Word

The rest of the world likes to see the entrepreneur as a gambler. In some ways, they are, but the deck is always stacked in their favor. The risks they take may look genius from afar, but a closer look demonstrates that they were always likely to succeed because they examined and weighed up the risks to start with.

With that in mind, simply sharing the characteristics of a successful businessperson isn’t enough. You must have the killer idea, the funds to make it a reality, and the plan to make it into a success. Only when you reach this point can you truly declare yourself as ready.

AJ Agrawal
AJ Agrawal
See AJ Agrawal's Profile
AJ Agrawal is a writer, speaker, and entrepreneur. He is the CEO and Co-Founder of Alumnify Inc., and is a regular contributor for Inc., The Huffington Post, Entrepreneur Media, Elite Daily, Tech Cocktail, and Business 2 Community. AJ is a proud member of the YEC and the 500 Startups Family.
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