Dave Meltzer discusses the downside of hedging your bets

No More Half Measures: Stop Hedging Your Bets

Hedging your way in will get you hedged out

One of the most interesting patterns that I have noticed among entrepreneurs and millennials is the practice of hedging your way into business deals. Instead of putting the full force of their skills, knowledge, and desire into making a business idea work, people decide that a partial effort will be good enough to get the job done. This is why one of my favorite sayings has become, “if you hedge your way in, you’ll get hedged out.” Trying to protect yourself from failure is the only way to ensure it.

Entrepreneurs Need to Be “All-In”

Throughout the judging process for Entrepreneur’s new TV show, Elevator Pitch, I had the opportunity to see almost 90 different business deals and proposals.  It was amazing to see the stark difference between people who had been working for 10-15 years part-time on what they called their “life’s passion” and wondering why they’ve had no progress, no funding, and no success; compared to other entrepreneurs who sacrificed everything (including time with their families and financial resources) to make it happen.  You could see the exponential results from those people that were not hedging their way into a deal. This is why I decry those who hedge their bets, instead of going all in. Trying to resist failure will only bring you more of the same. What you resist persists, so make sure that you are fighting for success and not fighting against failure.

Inaction and Fear

In golf, players often struggle with “the yips”, something with which I’m, unfortunately, very familiar. The yips have been defined as the loss of motor skills that athletes experience when they feel a large amount of pressure, causing an inability to execute on the smallest tasks. Typically, a player with “the yips” tends to struggle to make even the simplest of putts, too anxious to do what they know needs to be done and what they’ve trained their entire life to do. Indecision in business is often compared to “the yips”, as it isn’t about making the correct choice, but rather, being blocked from taking action or hedging against a potential failure.

Much of this stems from the way our brains function, weighing experience, context, and objectives along with emotional drives while making a decision. The prefrontal cortex’s circuitry can inhibit us from acting if our senses of fear are strong enough or if we believe such actions would have undesirable consequences.

Fighting Fear with Reason

Fear often causes indecision or inaction in business, as it is a deep-seeded, adaptive drive for survival and self-preservation. Although fear certainly has its evolutionary purposes, sometimes it makes it impossible to concentrate on anything but saving our own skin. Fear puts us in our own way, creating doubt and indecision with the misguided goal of reverting back to our comfort zone. In order to attain the results and goals you want, you should weigh your experiences and personal values, and settle on one pattern of activity that will set your ultimate actions in motion.

Energy in Equals Energy Out

When we don’t put all of our efforts and energy in, we aren’t going to get a desirable result. That’s why people don’t get the promotion, don’t get the raise, and don’t feel the purpose. Their energy is completely off, mainly because of some kind of fear. Fear is something natural that we all have to deal with throughout our lives, some more frequent than others, but it’s the way that we deal with our fears that separate the ones who make it and the ones who do not.  Simply having an understanding of the way that fear affects our decision-making can help us to combat our anxieties and encourages us to take action, instead of waiting.

Commit to Success

What’s not discussed here is the energetic recipe that you create for yourself.  When you put half the energy in, you’re going to get half the energy out. Never do anything half way, because what you put in is what you get back in return. If you aren’t satisfied with the results you are getting, then work hard to change it.  Don’t hedge your way into anything. Make the decision, commit to it, and enjoy the pursuit of accessing that potential. You can only do that by going “all-in”. Don’t hedge your way into a relationship, don’t hedge your way into a job, and don’t hedge your way into a purpose. Be all in and get everything that you desire rapidly and accurately.

By: Dave Meltzer

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