The position of F..k You.
I believe in the power of entrepreneurial risk as a life enabler but the process of taking that entrepreneurial risk can be enabled by a financial plan that runs like a strong river through your whole life and acts as a psychological support to your risk taking endeavours. A strong financial buffer can make you a better risk taker because as The Remarkable Story of Risk points out, Risk is a relative thing and you will be able to safely pursue your hunches and passions without having to risk it all, that will mean you can have more money on the table, pursuing more risk across a diversified set of projects over your life without the paralysing fear of having your back against the wall.
As romantic as having your back against the wall, burn the bridges sentiments sound, I have lived that life for many years and I think it has more down sides than upsides, not least of which is it can set in train poor critical thinking, gambler double down behaviours which rarely win the day in the long run. The challenge is not to be beguiled by the media because they will always be publishing the story that is extreme and against all odds because it gets eyeballs, the story of the calculated slow burn success story just isn’t sexy enough.
In a perfect world if you have an inclination to be an entrepreneur, set aside a percentage of your life savings through your life, as a fund you actively put at extreme risk and pursue your endeavours with full abandon without fear of losing it all, most importantly your precious peace of mind.
A movie scene in a movie called The Gambler with John Goodman sums it up. “The Position of Fuck You”