To Win Big, You’ve Gotta Bet Big: What I Learned in Las Vegas

Would you hire someone you're not sure will show up? Would you sign a contract with a company that might close its doors next week?

I wouldn't. At least not for important things.

But that's exactly what a lot of beginner or aspiring entrepreneurs are asking their clients to do. If we're not all in, we have one foot out the door. No one wants to hire the wishy-washy guy.

Both in life and in business, if you want to win big, you've gotta bet big.

A couple of weeks ago, my wife and I took a week off of work and headed to Las Vegas. This trip was the first time either of us had been there without attending a conference, and it was nice to see the city beyond the window of a hotel room or a conference hall.

Neither of us are gamblers. In my life, I don't take a lot of risks. I prefer to figure out the odds and go for the sure thing.

However, on our final day, we decided to play a particular slot machine before we left the MGM Grand.

During the week, we'd seen two different people win over $1000 each on this particular machine. So, we thought it'd be worth our $15 for the possibility of winning.

This slot machine with fancy cherries was $1 per spin.

Sounds pricey, right?

Ya, it is. Earlier in the week, Ashley'd played a few penny slots, and that was fine by me. Small bets, small losses.

But what we realized was that by betting bigger, we won bigger. At one point we'd one almost $50. Yes, we should have cashed out then, but that $1000 was RIGHT THERE! It was so close we could taste it.

Betting pennies we could have won $0.50. Betting dollars we could have won $50.

But here's the lesson I came away with.

To win big, sometimes you've gotta bet big. The biggest winners, in life, business, sports, Hollywood, investing – you name it – are the people who bet the biggest. Yes, they could lose it all, but the reward is commensurate with the risk.

Athletes who bet their futures on a draft pick. The movie producer who bets his savings to make the movie he wants to make. The entrepreneur who bets it all on a business opportunity that might not work out. The young man who buys a ring, gets down on one knee and bets she'll say “yes.”

The people who go all in are the ones who make history.

There are no guarantees in life. None.

I'd never advocate you put yourself in danger or risk going bankrupt, but humanity is naturally drawn to people who make waves, who stand out, and who bet big.

Nobody is interested in working with the girl who could care less. No one wants to hire the guy who might fold it up, pack it in, and be on to the next thing tomorrow.

Plant your flag, stand up for what you believe in, and do something bold.

For a long as you're in, be all in. When you commit, truly commit. You don't have to go full-bore forever, but you must commit absolutely and fully for as long as you're playing.

If you want to start your own business, put all your chips on the table every time you show up. You have to take big risks when the stakes are small. Make the calls, send the emails, hire the coach or join the mastermind. Give yourself the best chances for success.

I think, that at the end of our lives, the biggest risk will have been taking no risk at all.

In six months, I don't want you to look back and say, “Man, I wish I'd ….”

I'd much rather be right there with you when you said, “It didn't quite work, but man, that was fun!” And I think you'd prefer that too.

In the end, Ashley and I didn't win the $1000 the slot machine. Though we were up by about $50, we kept betting, and we lost it all. Even though we didn't win big, we sure had fun.

Question: What's that big, bold, bet you've been thinking about making, but that fear has held you back?