One of the key things that hold one back is managing Risk or risk analysis. Join me (JB Glossinger) as we discuss some tips and ideas for managing and mitigating risks.

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[00:00:10] Good Morning and welcome to Morningcoach.

[00:00:16] Today I am so glad you’re with us. As you know my name is JB Glossinger and this is your personal evolution system, thee place to get your day started right. Welcome, welcome, welcome, and I’m so glad you’re with me today is we are rock n rolling and we are putting some great energy out there and having some fun. Lots of great things happening here in MorningCoach land and I appreciate you being here because without you we couldn’t do this right. We got the level systems going, and people are moving up the levels and we’re having fun. It is just a blast. I am actually heading over to Austin Texas. We’ll be there today all the way through Thursday or actually Wednesday will be coming back but I’ll be recording from there as we do the show every day in Austin and I’m pumped to get with a great group of people over there Danny Inny And Shawn Platt a bunch of my buddies are going to be masterminding going over some stuff and how we get this message out to the world this week what are we getting out to the world what we are getting out risk understanding risk you know what is risk reward how do we manage it. How do we you know utilize risk in our life. What I’ve got for you is today we’re going to talk about managing or handling risk. How do I handle risk. Tomorrow we’re going to talk about the benefits of taking risk. Why would we even want to take a risk. Why is it so important that we do.

[00:01:36] We’re going to go through that on Wednesday were going to talk about allowing yourself the reward. So when we talk about risk and reward a lot of times we don’t allow ourselves to reward and we want to make sure we’re doing that now allowing ourselves the reward, and so we’re going to be going through that, Friday or Thursday is asked J.B. and as always if you want to ask me a question you could just go ahead and go to the MorningCoach.com, click that ask button. You can either record it or leave a comment there and I will get to it on the show. Really fun day. So always make it on Thursdays because we always have some great questions. Friday is the financial risk financial risk and dealing with percentages and this is something I teach in wealth 101. We’re going to go over it in detail. We will have some fun with that one Saturday risk management systems, and then Sunday taking some clearing time, taking some clearing time. So big week this week I’m actually going to be in Austin until Wednesday then Thursday come home then Friday night

[00:02:34] I start a Hagana annual retreat conference so I’m going to be Friday Saturday Sunday and Monday in the Everglades doing some pretty crazy stuff there, Friday Saturday Sunday at the school all day. It’s a 100 percent conference so I’m going to be in training this whole weekend, so it’s a big week for me. A lot of things going on. Then going into next week I’m going to be starting my surgery. I don’t know if you can see if you’re watching on YouTube you can see I’m getting ready to do an implants so that’s getting ready to get done and I can’t wait to get that done. So big month for me a lot of moving parts a lot of things happening and pretty excited to be alive. As you know we’re doing ACIM at the end of the show so make sure you stick along to the end to make sure you’re getting your course in miracles lesson. OK. So let’s talk about risk. How do you deal with risk? If you haven’t listed me before, maybe it’s the first time you listen, I do some pretty crazy things. I take a lot of risk, I train with Mike Lee Kaneric, a good friend of mine we’re going to be doing some cool stuff. Not only is he coming to the retreat in February that we sold out already. By the way I’ll announc the may retreat here soon. We are also going to be doing some cool stuff and I will be telling you what that’s about, if you want to participate.

[00:03:46] But sir we call him Sir Michael Kaneric because he’s an ex Israeli commandos so part of my life is the yin and yang so I’m the Mr. Positive, Mr. Happy, Mr. peace. That’s what I am heck I write for Hay House right. That’s all about peace love and happiness while the other side of me is my training and in my training I trained with the Devor x ninety five. I trained with an Ozzy Pro, I trained the Glock’s, I trained with knives, I trained with hand-to-hand combat. A lot of people always go JB I don’t understand how you do that. You know it’s kind of the opposite of what you do. You don’t believe in doing that so you don’t manifest it. It’s always a challenge because I’m always going to say this for training, I don’t want to manifest this, I don’t want to bring it into my life. And there’s risk. There’s a lot of risk. For me I love risk. I love the risk of learning how to handle yourself and particular situation, and for me the risk allows me to get in the moment. So one of the things I always teach you is the presents Principal, getting into the moment and when you are training when you’re training at the high level that we’re training with and with special forces and dealing with people that are really in some unique situations. I have to be present. I mean I can’t be anywhere else. It’s got to get me away from my business my life, and so there’s a lot of risk there.

[00:04:59] The other way I get away my other escape is golf and there was no risk there. There’s no risk involved in playing golf unless some golfer hits you in the head with a golf ball. Right. But the other there is risk and there’s a lot of risk and so understanding how to handle that risk in life is important. Also we’re going to talk about financial risk this week but there also a financial risk in things that you do, right now the big buzz is crypto currencies and knock on wood, I’m not giving them a hard time I just said don’t do it unless you love it, and I’d love to trade, I love the risk of trade and analyzing and as I analyzed it over the last couple of weeks Ethereum is where I wanted to jump in and I jumped in and I’m doing pretty good with Etherium right now very Balado high risk but I’m doing really good. I’m doing excellent with it and I’m having some fun with it. So for me I have a real high risk threshold. I like the risk I’m OK if I lose, and the thing is when we talk Friday about percentages there’s always that percentage you can work with and I’ll get into that because it’s really important that you understand how to cut up the pie so that you don’t hurt yourself when you have high risk situations in finances. Primarily what I’m talking about but understanding whats your risk tolerance because you don’t want to add stressed your life.

[00:06:14] If you’re somebody that’s like I’m going to get the cryptos and I’m going to try to invest in this and make some money and next thing you know you’re sweating it out because you put your mortgage money in there, you’re putting it on a credit card, that’s not where you need to be. So understanding how you are with risk is the first thing we need to do. We need to understand. Are you a risk taker or are you somebody that likes to step outside the box, are you something like that challenge that adrenaline or are you somebody that likes to step back and really play it safe. We’ve got to first understand that because if you’re not a high risk person then we can’t take high risk. This stress level, the anxiety that’s going to create for you is going to be counterproductive. You’re actually going to manifest negativity.

[00:06:53] First thing I want you to really think about is how do you handle risk. Are you high risk or are you a low risk person. Then once we understand it then we can start to figure out what risk we’re going to take we can start to choose our battles and what we’re going to risk and how we’re going to risk. So how do we do that? Well the first thing we need to do is talk a little bit about crypto currency, so the problem with crypto currencies and what I see is everybody chasing Oh they’re doing it so I’m going to do it. Oh it’s going up so I want to get in right. The idea is not to chase, the idea is to educate so you got to educate yourself.

[00:07:29] The reason that I like a Ethereum is because I’ve said this before is that I see crypto currencies which is tremendously volatile and risky. Kind of like the search engines back in the day when there was AltaVista and Yahoo and all these other search engines and then Google figured out the algorithm right. Then it broke free and that was the one that if you could invest it in Google at the beginning of it pretty good. As I look at the cryptos and my education and learning a little bit about them I like Ethereum because it’s open source and that’s my reason. I threw some money at it and it’s doubled, it’s doubled in a couple of weeks and it just keeps going up. Now there’s risk I could lose everything. The thing is though if when I get out you can never lose if you take profits. That’s a little bit about an investment mentality or day trading because I actually day trade which is insane but I know how much I can lose and I get out when I get out, cryptos and Ethereum I’m actually looking at a long play which is a hold meaning that I think that over the long term it is going to keep increasing in value and I’m long on it meaning I’m not day trading it but I do flips some stocks around and I have some fun with it but there’s allocation for that, because I like that risk and in order for me to do that I educate myself.

[00:08:39] So back to why I picked Ethereum, because I educated myself, I’m great at research that’s one of the things I’m good at. Studied everything I possibly could and loved the fact that was open source. It was pretty cool. So that’s what I educated myself also when I trade stocks again I’m just talking about finances here I educate myself when I am daytrader I’m only trading a couple of stocks, I’m not trading a basket. I’m looking for a few stocks that I can understand exactly what’s going on with them and then I can trade. So the first thing we do with risk to mitigate it. To help us understand it is to educate to get education when you’re getting ready to take a risk.

[00:09:12] You want to have the knowledge and a lot of times you don’t want to get it from somebody else unless it’s a coach or a mentor. Ok. Unless it’s been somebody else it’s been there and you can trust them they know you have your best interests at hand. There are fiduciary like they care about you. A license fiduciaries in the financial world means they have to treat your money as they treat their own right. If it’s somebody that really cares about you then you can use them as a coach to help you with the risk and you need somebody that can handle that so if you’re very risk adverse, It’s good to have a coach or a mentor on your team. Right. It’s going to help you and we’re going to get into that level 3 specifically about those trusted advisers that you have in your life. It’s critical that you have your trusted advisers, I have mine.

[00:09:53] I have it right now five coaches, going to this mastermind this weekend, probably end up with a couple of more. I’ll be honest with you, I just I love to have those people around me that I can trust to give me the guidance that I need. Obviously you’re getting that here for me but when I get it from my group it comes in, funnels right through you. We want to have that group of people that are trusted or so education is the first step in might of mitigating risk and understand what we’re going to do. The second thing is having that trusted adviser group so that we can talk to somebody who’s been there to mitigate the rest. The third thing that we need to do when it comes a risk is train, is train. For example I train in particular situations what to do. My operational awareness is very high because I train with Sir. I understand certain situations in life and what I need to do, and what I need to look for, and finances, I train how do I train, I watch the market, I educate, I paper trade. Paper trade means you don’t actually use money. You actually used paper. You write it down or you can use software to do it and you track how you would do. Right education training getting the mentorship all helps mitigate risk. The other thing is really important when dealing with is a go slow and be patient. A lot of people jump in. I’ve got to go I’ve got to go everybody else is doing.

[00:11:05] I want to get in. The fear of loss is huge. That’s what we call it in marketing creating the fear loss. You’ve got to buy it now. If you leave you won’t get the discount right. We’ve all heard that. It’s the fear of loss and when you feel that fear a loss like you’re going to miss out on something you jump, I know I do. I’m probably the worst at it. I can’t miss out on this. That’s why I jumped in the cryptos I dropped in because John Lawson my buddy one of my mentors an e-commerce genius in e-commerce was just going crazy about bitcoin and cryptos, so I mean I better check this out. John’s all excited about it. As I got into it I’ve always liked it because of tech and actually back in the day I really liked it and I’m kicking myself because I didn’t jump in. In fact in the beginning here I didn’t jump in and I was going to but I did jump in because I do think there’s something there and I’m having fun with it, but again one of my mentors trusted adviser somebody that I like and e-commerce started doing a little bit with it, so I took a look at it. Right. My thing is I’m not chasing it. No I’m investing in things that I’m looking for and I’m not trading yet. There’s a difference between investment and trading, I’m investing. That’s what I’m doing I’m looking for those opportunities so I’m slow and I’m patient

[00:12:11] but I’m understanding what I’m doing. Everything’s calculated and I understand my risk. I don’t mind losing it at all because I’m not going to chase. So a lot of people come to me and ask, we have Tanya in Australia doing a bunch of bitcoin too. There are some new MLM companies that are involved with those. You just got to get the right up line support and make sure you’re what the right group in those companies. Okay that’s my thing. If you’re jumping in, do an MLM. We got a lot of people here Amber and Jason Wick who are the third second or third largest distributors in the United States. Graham who I love. Edwards I play golf with the fourth biggest distributor Herbalife. They sent a lot of their people here and I love them to death. I love Herbalife, I love their products, I love their comp plan. We have a lot of people doing bitcoin stuff, We have a lot of people in MLM. My thing is when you’re going to do a business like that you’ve got to go slow and make sure you get the right up line support like Jason and Amber and you make sure you provide the right up life support okay and treat treated as a business. That’s all I’m saying about that because sometimes I get a little bit of people get on me a little bit because hey JB you’re not going to have MLM’s. No I don’t. I think they’re a great business because you can get it low so low cost you can get 100 200 bucks a month.

[00:13:18] Jamie’s doing Voltaire I know he’s doing good with that. I get the oils. I love those companies but the problem is there is a low overhead there isn’t much of a commitment because you don’t have to put a lot of money in. OK. So when you’re doing that you’re risking there is much skin in the game. I heard one the other day that I just love is that the person that has the most invested is the last one that quits right. The person has a love most of us the last one to quit. So in those companies you are much invested. You’re going to quit. Right. You may quit but the good thing is you don’t have a lot invested but you’ve got to treat it like you do. That’s my suggestion. All you guys doing MLM which I do like, teaching your business you can get in there low cost but you’ve got to be dedicated to it you got to treat it like you put a million dollars into it. OK and that will help you do that. Anyone who wants to talk about that off line, shoot me a message because I support everybody. I support entrepreneurs. People doing ILD, MLM, people in careers I love it but the key thing is that as we go forward we mitigate risk OK. And we understand we educate we train we get coaching. That’s going to help us take risk and with risk comes rewards. We’re talking about that on Wednesday.

[00:14:19] The bigger the risk a lot of times you get this huge reward. So I’m playing in the cryptos it’s big risk there and that whole thing could collapse. But there’s big rewards too. You’ve got to have this structure in place to be able to take some shots either financially with their business or with your life. I’s all about understanding the expectation and understanding how you can handle risk because there’s nothing worse than when I see somebody get into something and then quit three months later because it didn’t turn out fast enough for them. Unless your day trading. That’s all different but it didn’t turn out fast enough for them so they end up quitting. And I don’t want you to do that. OK I want you to stick with the things you’re doing long enough and in order to do that you got to mitigate risk and a lot of it has to do with how you feel about things are going in the risk you’re taking. OK. So just remember those that invest the most are the last ones that quit and start to invest in yourself and start to believe and let’s work with this risk. So if you want to tell me some of the risks you’re facing I would love to hear, you can get in the Facebook group level 2 level 3 even level 1. Talk about a little bit.

[00:15:20] What risks are you going after what are you doing, are you doing MLM, or are you going to get out and talk to three new people today, are you in the cryptos, or are you looking at some of the new coins that are out there, are you looking at some financial risks, are you looking at maybe moving into a new job. How about relationship risk are you looking to have that conversation with your daughter. Can you educate yourself enough and get the trusted advisers enough around you to mitigate the risk. That’s the real question and that’s what I’m here to help you do. OK. We’re going to be doing that all week. So let’s get out there and have a great day. Let’s go after some things and put that energy out there and let’s do this thing to it because hey we only live once.

[00:16:01] So let’s have some fun doing it. All right. So I will be in Austin tomorrow recording for there we’ll see how that goes should be fun, But I know we’re going to have a great day either way. Go out there put out some great energy, have some fun and I will be back with more right here tomorrow on MorningCoach.com. I love you, get out there, Have a great day.

The post Risk Analysis | How To Handle Risk | Episode 3014 appeared first on MorningCoach.com.