Most people let emotion get in their way of making money. They tend to put too much stock on the risk associated with their business decisions. But what if they could learn a way to take the risk out of these decisions? Well, there is a way and it’s called “Expected Value” (EV) – a simple mathematical method.
In this episode, Jay Papasan interviews Billy Murphy – a former professional poker player turned successful entrepreneur, trainer and podcaster. Billy explains what EV is and how it can help you make business decisions without focusing on the risk involved. Learn why EV is important, what you need to do to take advantage of it and where to employ it. You will also learn what is the sunk cost fallacy and much more!