"Scared money don't make money" is the title of one of the chapters in Jayson Waller's book, "Own Your Power."
The phrase "scared money don't make money" has a reckless feel to it. It's one of those "F-it" moments where you jump off of the cliff and hope not to hit the rocks on the way down.
After one year, Waller's new business was struggling. Coming off of two failed companies and a bankruptcy, Waller felt he had no choice but to shut his business down. Fight or fail; his wife vowed to stick by his side.
After much thought, Waller did the only thing he knew to do. He bet on himself.
Waller liquidated his dream home and poured everything he had back into the business.
"Scared money don't make money means you plan to go all in; throw away the safety nets; take out the exuses with the trash, and go balls out like your life depends on it because it does."
"Nothing worked until I risked it all." ~ Jayson Waller
You may read this and think that Jayson Waller bet it all on his business, but you'd be wrong. Jayson Waller bet everything he had on himself and went to work.
If his emphasis had been placed externally on the business, Life would've yanked him around. Loans wouldn't come through; weather and economic changes would've ensued, and shortages would've come about-all of them being THE reason why his business failed.
But because Waller bet internally on himself, when the game changed, he changed along with it.
External bets cry, "Oh no!"
Internal bets ask "What's next?!"
"It's amazing what you can accomplish when you have no alternatives."
Reading Waller's story made me think back many years ago when I quit my sure-paying job to get into sales just hours before my shift started. My manager was so pissed off that he told me, "If you do this to me, you cannot come back!" I told him, "I am doing this so that I won't be back!"
Was I scared as hell? Damn right, but I knew if I had alternatives, the minute I had a bad month (& there were plenty), I would've gone back to my old casino job.
Alternatives rob you of your potential.
I had no choice but to make sales work. I didn't finish college; I was a single parent; lived in a house with no stove or refrigerator, and had bad credit. Sales was my only play.
Twenty-four years later, I'm still playing :)
Waller writes, "If this were a poker game, scared money don't make money is like having pocket aces every time."
It's a sure thing because you're a sure thing, but the only way it will work for you is if you're committed and unwavering.
Will you go without? Yes.
Will, it often not work out? Yes.
Will it be unfair? Yes.
Will you go under? Yes.
You will choke, but you will not drown if you keep swimming.
Even when you are scared and don't know what to do, take action anyway. You'll have just enough to get through that one day, and the next day you lock and load and run at it again.
Why do you think I end every episode of The Sales Life with, "The greatest sale you'll ever make is to sell you on you," because I want you to bet on yourself. It's the best investment that'll yield exponential returns.
What is your "scared money don't make money" moment right now?
I want to hear from you.
Never settle. Keep selling no matter what.