2 Retirees Couldn't Stop Buying Lottery Tickets--You Should Follow Their Lead

Back in 2003, Jerry and Marge Selbee found a statistical loophole in the lottery and started using it to raise money to revitalize their hometown.

Their story is an ironic juxtaposition between the gambler vs. investor mindset.

The gambler mindset is opportunity-driven. It says, “I see an opportunity and the upside. I can’t get it without putting my chips on the table. Let’s do it!” It is focused on what it doesn’t have and wants to gain.

The investor mindset is focused on returns on assets. It says, “I have these resources, and this is how I can get the maximum value out of these assets.” It is focused on what it has and how to grow it.

This mindset can play into almost every thing that you do:

• What you do with your time

• What products you invest in

• What lines of business you expand into

• What types of businesses you guy

But it’s only possible with an accurate inventory of your assets. This includes things like:

• finance

• time

• relationships

• skills

• intellectual property

• physical spaces

• attention

• and much more

Here are some specific examples.

One of my readers responded to a recent email. “If I can spend 5-10 minutes of my time to save a junior team member 1 hour, it’s worth it.” This goes beyond the “don’t bother me, I’m working on the business” ego trip, and it dives deep into the return on the asset of time.

This is also a great way to protect yourself against the AI fear & hype, or any time of competitive threat. It doesn’t mean you should ignore it. It does mean that you shouldn’t immediately sell the farm because of it. You should find and exploit your unique assets.

Here are the thinking questions for you:

1. What are the big problems that you’re trying to solve now?

2. What resources do you have that you could utilize towards solving that?

Think like an investor, not a gambler.