The Belt And Suspenders Mindset
“Go all in”
“Plan B distracts from plan A”
I’m sure you’ve heard all of those motivational quotes before.
Burning your boats to ensure there’s no way out.
That’s all well and good in theory, but when you’ve got a family, when you’ve got responsibilities and when you’ve got a stack of bills to pay the abandoning of every zip line and safety net may not be the best idea for you.
Whether we’re talking about a new business venture, a change of city or a new style of workout regime it’s a wise decision to have another option, an escape route, a net of safety if you will.
I Call This Your Belt And Suspenders…
Instead of packing up and moving cities at the blink of an eye lid go for an extended vacation and get to know the place.
Instead of throwing in the towel at your job and then trying to figure out how to start an online business why not start the business in your spare time and allow it time to grow while you develop your skills?
Life isn’t always smooth sailing – there’s a lot of ups and downs.
As Warren Buffett says
“It’s only when the tide goes out that you learn who has been swimming naked.“
Don’t Get Caught With Your Proverbial Pants Down!
My town recently had a massive mining boom, everyone sold their houses and moved to the closest mining town where big, big bucks were on offer for inexperienced jobs.
Driving vehicles, assorted basic manual labour jobs, every man packed up his belongings and got to work.
All of a sudden these people, who left it all behind were earning upward of 4x the salary they were used to.
They bought expensive cars, luxury items and booked a bunch of holidays.
Shortly after the mining boom was over, the mines had been exhausted and the companies moved on.
These guys on the other hand, they forgot their belt and suspenders. They left their families and their previous (secure) jobs on bad terms, they spent more money than they earned and their loans were being drawn in by the banks fast.
They didn’t adopt the belt and suspenders mindset, they fucked up – many are still paying for these mistakes today.
Don’t avoid all risk, but be calculated in your approach.
Have skills, have options, have a fall-back for when the winds of life aren’t hitting your sails.
Plan, plan, plan and execute at the right time.
Action trumps all, but don’t be so quick to throw everything you have away – keep your belt and suspenders.