Manage episode 305053319 series 2994700
By Neighbor to Neighbor Marketing Inc and John Preston. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Loss aversion is a very real thing that can halt the growth of your business in its tracks. The term refers to the natural tendency we all have to fear loss much more than we get excited about equivalent gains. Unfortunately, if you are an entrepreneur, this often causes you to make decisions that are not always in the best interest of your business. To reach the level of success you dream of require taking some risks. In today's episode, we take a look at just how to recognize when you are being driven by loss aversion and how to take steps to determine whether the risk is worth the reward when the time comes to make a big decision.