When someone becomes an entrepreneur, he is basically betting money & time on himself. The odds are based on the business plan and his abilities. It’s a gamble, and the risk can be immense. It’s also the unknown that is exciting. The danger lies in the magnitude of the venture. I know because I experienced this with my first restaurant.

Watching limitations and being objective along with controlling emotions might sound easy, but it’s not. Despite the detailed planning based on a smaller version of my mentor’s successful restaurant, unforeseen economic conditions in the early 1980’s created an untenable financial climate. Caught in the vortex of losing the restaurant, I was numb until I finally walked out the door and the magnitude of what occurred was finally realized.

Despite this scarring episode I’m usually not a betting man, but I’ll make an exception for myself again should a situation present itself.

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