The presentation this morning was all about taking risks.
Mike S: I showed a clip from the television show Shark Tank. On it this guy looking for investments had a great idea about a balloon that you blow up inside of a wine bottle to keep the wine airtight and fresher for a longer period of time. On the show he had an option of having one guy buy in for 30% stake in his company and $40,000 to invest or he could sell ALL his rights to another investor who wanted to buy him out.
The risk here was does he hold onto his company and get an investment and hopefully make millions IF his product blows up OR take a check for $600,000 right this second. He asked if he could keep 3% royalties and one of the investors jumps out and he ends up having his buy out offer lowered to $400,000 which he eventually accepts.
The whole moral here is that sometimes in life you need to take risks to be successful otherwise you will ALWAYS wonder what could have been…