Going Broke Trying to Make Money!

I was at an Internet Millionaire's Bootcamp this weekend and one of the first speakers asked the audience:
"How many of you have gone broke trying to make money?!"

In a room of about 1,000 people, I'd say at least a couple of hundred raised their hands.

I wondered about the psychology behind the irony of "going broke trying to make money".

There are two aspects to this phenomenon of "going broke trying to make money"

The first is that people don't usually make remarkably high amounts of money while they are doing safe, secure, comfortable 9 to 5 jobs. All the internet millionaires that spoke at the event had suffered extreme bouts of discomfort (homelessness, bankruptcy, boredom) before making seriously high sums of money. The extreme pain they felt somehow propelled them into massive action that produced results.

Tony Robbins often says that "the level of your success will be related to the level of uncertainty you can handle". Taking risks creates a high degree of uncertainty or discomfort and our millionaires at the Bootcamp this weekend had obviously used the pain of their discomfort to produce fruitful results.

The second aspect of this "going broke trying to make money" irony, is not so straightforward. When fear, pain and discomfort are the motivating factors, what happens when the person is comfortable again?

They usually go broke again!!

You will notice whether the people you know are operating from fear-based motivators because their wealth or success goes in cycles. They get rich. They get broke. They get rich. They get broke.

In order to sustain a steady increase in our wealth requires perseverance towards what we feel passionate about rather than trying to escape that which we fear.
Several of the millionaires at the event this weekend mentioned the common refrain "Most overnight successes have spent years in preparation!" In other words, there is no "get rich quick silver bullet"

How do you combine risk-taking, perseverance and reslience in your life & business?