1 Bad Assumption Can Ruin 100 Right Decisions
The Playbook With David Meltzer
David Meltzer, Entrepreneur.com
4.9 • 1.9K Ratings
🗓️ 27 September 2019
⏱️ 22 minutes
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| 0:00.0 | What I want to talk about today is let's take a step back from reality and maybe start looking at some assumptions that we're making about very important things in our lives. |
| 0:12.0 | This is entrepreneurs the playbook. about very important things in our lives. |
| 0:15.0 | This is entrepreneurs, the playbook. Our perception is not in our best interest. |
| 0:19.0 | And that kind of was puzzling to me because I was under the assumption that if I could control my perception |
| 0:25.2 | then that would be in my best interest. And exploring assumptions I |
| 0:31.7 | started realizing that a lot of problems in life |
| 0:36.4 | are that we overthink things in the respect that we take on assumptions but don't think about the assumptions we're taking on. |
| 0:43.1 | Let me explain. |
| 0:45.1 | One of the best things that's ever happened to me is I lost all my money. |
| 0:49.0 | And people always asked me, well, how is it you were the CEO of the most notable sports agency in the world who came out with a sports illustrated article about 75% of all athletes go bankrupt two and a half years after they're done playing and you have a law degree |
| 1:03.5 | from a great institution top of your club all these great academic things and |
| 1:07.5 | how is it that you lost that much money? What it came down to is the basis of assumptions is that I had always made money but I made one assumption with my money. |
| 1:19.0 | I assume that because I had equity in property that I always would be able to borrow against it because what bank wouldn't give a secured loan? |
| 1:29.0 | Right? And in my assumption I had, because I was still very young, |
| 1:34.4 | ever realized that banks could get into trouble. |
| 1:37.9 | And a bank could literally say, well, |
| 1:40.6 | you might have $40 million in equity, but we don't believe a few years from now |
| 1:44.7 | it's going to be 40 million in equity or even more even if we do believe that we'd |
| 1:48.4 | rather keep that money at this time because we're about to go bankrupt. And that's what occurred to me. That's what happened to me. |
| 1:57.0 | That's how I ended up losing all my with a variety of other things, but I was accountable |
| 2:02.1 | for the assumptions that I made |
| 2:04.4 | without truly doing any research or asking any help or figuring it out and I |
... |
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