Guts is selling everything you own to raise money for your new venture, like Tony Hsieh did. He sold everything (including his loft in San Francisco) — everything that was left from his $40 million exit from LinkExchange
"Guts" make for a great story. However, the smart move would've been to set up a trust as a fall-back with $3 million of the $40 million. (Which may well be what he did, in fact. I don't know either way, and the article is worded to allow for this.)
Better than guts is a clear head. This way, you can see where others have irrational fear and now be swayed. With a clear head, you can take calculated risks. With a clear head, you can see the true value of the transaction.
Muhammad Ali's use of "Rope-a-dope" in his victory against Foreman looks like the stereotypical, stirring, "hero gets beaten up badly, but comes from behind" twist at the end of an action movie. In reality, it was the result of cool calculation and masterful, calm execution.
"Guts" make for a great story. However, the smart move would've been to set up a trust as a fall-back with $3 million of the $40 million. (Which may well be what he did, in fact. I don't know either way, and the article is worded to allow for this.)
Better than guts is a clear head. This way, you can see where others have irrational fear and now be swayed. With a clear head, you can take calculated risks. With a clear head, you can see the true value of the transaction.
Muhammad Ali's use of "Rope-a-dope" in his victory against Foreman looks like the stereotypical, stirring, "hero gets beaten up badly, but comes from behind" twist at the end of an action movie. In reality, it was the result of cool calculation and masterful, calm execution.
http://www.imdb.com/title/tt0118147/