How to set the acceptable amount of loss for yourself?

At the start of working in any #MLM program, online earning or #cryptocurrency project, most people ask themselves that one question ‘Where am I going to take themoney for it from?’, or they assume straight away: ‘I am not able to afford it’.

This attitude is multiplied by the fact, that none of the businesses are able to give you guarantee, that you are definitely going to earn.

In MLM: you don’t have any assurance that if you buy particular product, others will follow your example (allowing you to earn commission), and you also cannot be sure that you will manage to build a structure, that will bring you ‘passive profits’. In projects, that are promising magical gains without you putting any work in it ‘all you have to do is make a purchase and your sponsor will take care of the rest’ - there is also no guarantee, and most often you’ll be able to find it out just few weeks after. It is similar with cryptocurrency topics, mining, etc. Nobody is able to promise, that you are going to earn. That is it.

Then how… without referring (just in case it has turned out that you are not so good at it), you can set the amount, you are able to dedicate to some project or a company to be able to act INDEPENDENTLY, not thinking about building structures and at the same time without suffering the reduction of your home budget?

How to set the acceptable amount of loss?

Yes, you’ve heard it right. LOSS.
Because if we are aware, that every business is risky, and you may lose, it is worth to spend some time on thinking – simply, how much you can lose without suffering.
How much you can spend without ruining your life?
How much you can spend to not to cry in the pillow every night.

I know, I know, you’re used to listening to something else:
Do not think about losses. Rather think how many millions it can bring you. Blah. Blah. Blah.

Of course, it is nicer to think about potential profit, but you can believe my words – once you earn suitable amount of money, from various project, receive a continuous cash flow + finally get plenty of time off, then you wouldn’t have to think of how much you’re able to lose. Then, you will think about profits.

But at the beginning – when everybody on the internet, around your friends, in new group, is talking about big bucks, which you don’t have, and you’re worried to put your savings into things you don’t know anything about – Think About The Loss.

Methodically.

Option 1

Food shopping in the supermarket. How much #money you spend on it? $50? $100? More?
Save up every ‘change’ you have left from your shopping - $5 - $10 - $15. It is not much, is it? But how many times a week you do the shopping?

After a month you may have some ‘free’ funds, to put them somewhere – whether it is some MLM, cryptocurrency, an adpack in revenue share program, etc.
$5 - $10 from each ‘change’.

I just remembered that when I was a kid a use to nick my parents change from their shopping. Just $1 so they don’t realize. It took a week or two and I had a nice amount. For ice creams, chocolate bars and more. Parents did not realize. No harm :)

Now, we are adults. Save up some amount from your own shopping, that wouldn’t be that high to make you feel the difference. $5? It is just few chocolate bars. 2 magazines. Or some other little thing you grabbed while waiting in the queue.

I am almost sure, that this amount would not hurt you.
And that it did happen that you’ve lost it, on your way to the shop maybe, and you weren’t killing yourself over it.
That is what acceptable amount of loss means.

Option 2

How much are you giving to your child/ teenager for a party with friends?
$20? $30?
Save up the same amount once a month for yourself. You deserve a party too, don’t you? You are working for it.
If you’re giving it to your kids with no pain (‘let them have fun, when are they going to party? When they’re 40?’), say identical thing to yourself. The amount like for a party, but this time, save it up, like you have been drinking for it already.

Already gone, already eaten or drunk for? It does not exist any more!
Even if you lose it on the internet, it would feel like you have spent it before. Without the pain. Without the hangover.

Same thing every month. And ask yourself how much you’d be able to save up this way.

Option 3

Connect both options – 1 and 2.

It is still your acceptable amount of loss.
Those are the funds you wouldn’t cry about.

If someone asks how much money you have put in that particular business, you can say - $5 from each ‘change’ after your shopping in Tesco.
Yes, I understand that those amounts seem funny for a start in some serious business.
But who said that you need to start from a serious business straight away? ;)
That you have to pay in $10 000 or $50 000 in one go,
You don’t have to.
Try the small one first.
Use only the amount, I am going to repeat myself here, that you are able to lose.

Some time ago, I came back to smoking again. $10 for a pack of stinking fags (because I like them), I can spend this $10 for cigarettes without pain. Should I then cry, if I spend the same amount for something else each day? Why would I?
I smoke these fags, that bring me nothing, without any pain.

Acceptable amount of loss.

Option 4 (HARDCORE)

How many beers do you drink a day/ a week/ a month?
When you go to the shop next time: go crazy and buy 1 less of them.
Save up some money on that. The world is not going to end if instead of that one #beer, that ends up in the toilet anyway, you ‘waste’ it online.
Nothing is going to get born from that one beer: only additional hour of joy. But from that money you’ve saved – something might come up.

More you earn, higher acceptable amount of loss you’ve got.
Some amounts don’t impress you this much.

But that is not what you have at the start.
At the start you have to spend some quality time on thinking ‘where to get the money from’ and I would be very happy if every person could ask themselves one more question too: ‘How much, at this moment of time I can lose – honestly, and without pain’?

It is only then, that you can really work, act, invest and earn – with comfort. :)