Risk Small But Often…

In Tony Robbins latest book he introduced me
to the phrase "asymmetric risk/reward".

It's a fancy way of saying "risk a little to make a lot"...
risk $1 to make $5.  You can be wrong four times out
of five and not lose money.

In a book I was reading Thursday I noticed the
advice... "risk small but often"....same sort of thing.

That got me thinking about how that advice could
be applied to making extra money.

If you want to buy a McDonald's franchise it will
cost you at least one million dollars before you
make one penny.

That's a big risk you probably can't take that often!

What if instead, the risk you take is sending a letter?

Postage + printing the letter on your home printer +
an envelope and you're looking at maybe 75 cents.

What if the offer you make in that letter earns you
a profit of $100?

That means you can send 100 letters costing a total
of $75 and all you need is 1 person to take you
up on your offer and you've got a winner.

You can fail 99 times out of 100 and still make a profit.

Make an "offer they can't refuse" and you'll get
1-5 of those 100 people to say yes.

You don't have to send those letters all at once...
you can spread it out over a few weeks if money
is tight,

You can eliminate the cost altogether by sending
emails instead of letters.

So the question is...do you have a product or
service that you can sell for at least $100?

And then... can you easily identify 100 prospects
who could use your products or services?

Get to it!

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