The first time I lost that amount of money was during the devastating economic crash in the real estate market. My company was investing in real estate doing flips, rentals, and short/long-term investments. We also got into hard money lending. During the crash we had individuals and companies default on money we lent. That was the first time!
The second time was yesterday, but not as significant. I am playing a game on ESPN called Streak for the Ca$h. The game is simple and it is free, you simply pick a game winner for all different sports and whoever get's the longest winning streak for the month wins $50,000, and if you have over 27 winning streaks in a row, you can win $100,000.
Don't worry there is a leadership lesson here, not just a sports talk... Keep reading!
My approach was more based off running simple statistics and probability to get the wins versus who I thought would win or what other people were voting for. I made sure to not...
The second time was yesterday, but not as significant. I am playing a game on ESPN called Streak for the Ca$h. The game is simple and it is free, you simply pick a game winner for all different sports and whoever get's the longest winning streak for the month wins $50,000, and if you have over 27 winning streaks in a row, you can win $100,000.
Don't worry there is a leadership lesson here, not just a sports talk... Keep reading!
My approach was more based off running simple statistics and probability to get the wins versus who I thought would win or what other people were voting for. I made sure to not...
Current Winning Percentage
be emotionally attached nor allow other people playing to sway my opinion... until yesterday. Yesterday I had a winning streak of nine, which is doing pretty good, out of thousands the highest streak was only 20 and I started a week into February. My friends who all were playing were praising my accomplishment, the next friend closest to me had 2 wins.
Here is where I lost the $50,000... or the chance for it. There was a soccer game between Lyon and Real Madrid. Statistically Lyon should have won or had a draw which would have been my W10 streak. Lyon had never lost to Real Madrid, they had been knocked out of the running for the previous 6 years, sometimes from Lyon.
Based off the statistics I ran... for several different reasons I felt Real Madrid should win, however there were a couple outliers that made me timid to cast my vote. However one of my friends kept pushing me to make a vote, to wager my 9 wins of a streak and put them on the line. As you can see from my stats below, soccer is the only sport I have under a .500 for winning percentage, .444 as seen below, I should have bowed out. I realized soccer was not my strength, however I folded to the pressure and proceeded to vote. Then the last second I changed my mind because 7 out of 8 of my friends voted for Real Madrid, the single individual that voted for Lyon was being ridiculed. I cast my vote and not for the team I calculated as the winner, Lyon.
Leadership Lessons: So in reality I probably did not really lose $50,000, maybe I did, no way to know. However here is what I learned. We need to trust the data, one of my focuses in life is "stay in the data". One of my signature strengths is Command, meaning I cast aside emotions and concentrate on facts. I continually adopt a practical, factual, or unemotional position on certain issues. However this time I failed. I allowed reasoning, outside pressures and emotions and worst of all the bandwagon pressure to affect my change. The game ended with GOOOOOOOOOOOOOAAAAAAAAALLLLLLLLLLLL for Real Madrid! My winning streak went to L1 (loss = 1).
Coaching Moment:
Are you trusting the data, your gut, your intuition OR are you allowing creep of outside pressures, emotions, and opinions to override your best judgement?
Can you keep clarity in your vision, your mission, your goals amongst the outside forces without folding?
Stay true to the data, your gut, your intuition. Do not waiver, do not hold back, push forward till the end!
Here is where I lost the $50,000... or the chance for it. There was a soccer game between Lyon and Real Madrid. Statistically Lyon should have won or had a draw which would have been my W10 streak. Lyon had never lost to Real Madrid, they had been knocked out of the running for the previous 6 years, sometimes from Lyon.
Based off the statistics I ran... for several different reasons I felt Real Madrid should win, however there were a couple outliers that made me timid to cast my vote. However one of my friends kept pushing me to make a vote, to wager my 9 wins of a streak and put them on the line. As you can see from my stats below, soccer is the only sport I have under a .500 for winning percentage, .444 as seen below, I should have bowed out. I realized soccer was not my strength, however I folded to the pressure and proceeded to vote. Then the last second I changed my mind because 7 out of 8 of my friends voted for Real Madrid, the single individual that voted for Lyon was being ridiculed. I cast my vote and not for the team I calculated as the winner, Lyon.
Leadership Lessons: So in reality I probably did not really lose $50,000, maybe I did, no way to know. However here is what I learned. We need to trust the data, one of my focuses in life is "stay in the data". One of my signature strengths is Command, meaning I cast aside emotions and concentrate on facts. I continually adopt a practical, factual, or unemotional position on certain issues. However this time I failed. I allowed reasoning, outside pressures and emotions and worst of all the bandwagon pressure to affect my change. The game ended with GOOOOOOOOOOOOOAAAAAAAAALLLLLLLLLLLL for Real Madrid! My winning streak went to L1 (loss = 1).
Coaching Moment:
Are you trusting the data, your gut, your intuition OR are you allowing creep of outside pressures, emotions, and opinions to override your best judgement?
Can you keep clarity in your vision, your mission, your goals amongst the outside forces without folding?
Stay true to the data, your gut, your intuition. Do not waiver, do not hold back, push forward till the end!
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