I was recently at a party and heard a cool story about a Cavs fan. Apparently, this guy has very good season tickets very close to the floor. These tickets cost around 70k a year, which seems crazy to me.
For the last few years, he enjoys all of the regular season home games in great seats with his friends and family. When the Cavs get to the playoffs, he sells his tickets to each playoff game. Since his seats are so good, and because the playoff tickets sell for a lot more money, the income from his playoff ticket sales completely offsets his entire 70k investment for the season tickets.
In essence, this strategy allows him to see every Cavs home game for free. Brilliant!
The problem this guy has been facing over the last few weeks is that our hero, LeBron James, may be leaving the team. If James leaves the Cavs, they won’t make the playoffs next year, and he’ll end up losing 70k. He’ll have to pay for his season tickets out of his pocket. As I’m writing this, everyone thinks LeBron is leaving the Cavs, but nobody knows for sure. I also don’t know when the deadline is for this guy to renew his season tickets.
It’s an interesting situation, isn’t it?
He’s figured out a way to get others to pay for what he wants – great seats for every home game for the 2nd best NBA team. The challenge is his plan is dependent upon someone else, LeBron James. Even if James stays in Cleveland, there is the possibility that he could get injured during the regular season hurting the teams chances to go to the playoffs.
Thinking about this, I don’t think I’d take the risk. I’m far too conservative to roll the dice with this plan considering that I don’t have full control over the outcome. I will only go “all in” (see what I did there) when I’m not dependent upon anyone for anything. When I control my destiny.
Let me ask you… what are you dependent upon?
Are you dependent upon your employer? Are you dependent upon your Broker? Are you dependent someone else for your income?
If you’ve answered “yes” to any of these questions, wouldn’t it make sense to back-up this income stream?
You’ll be happy to know that you can back-up your income stream by starting a new membership business. And as luck would have it, I just happen to have everything you need to get started this week. 🙂
