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Hedging Your Bets

Some of you folks that are reading this know that I spend my days toiling for a big bank. So I can totally understand if you thought that this article was about hedge funds or some related financial instrument. Or perhaps you’re used to reading posts that focus primarily on my current profession (marketing) so you thought that “hedging your bets” was an analogy of some sort that referred to spreading your marketing dollars – and expertise - on more than one channel.

Side Note: That last assertion is a good idea in my experience. If you’re already good at search engine optimization try to master paid search marketing. Know your way around email marketing? Learn how to activate display campaigns. Really strong with digital channels in general? Figure out how traditional advertising channels like TV and outdoor work.

Don’t care about marketing? That’s ok too. Though I’d argue that even if you’re not a marketer, you may want to consider understanding fundamental marketing concepts if for no other reason than to gain a better understanding of how the human psyche works.

Anyhow, back to my original point. The reason that I titled this post “Hedging Your Bets” is because I got to thinking about the nature of a love affair. I realize that in some sense, we all must decide whether or not to hedge against the degree of love and passion we’re willing to manifest for our significant other.

Some of us are quite risk averse, so we choose a mate based mainly on financial stability, emotional safety, and a high degree of consistency. We’re not looking for a volatile love [anymore].

Some us are a bit more ambitious. We want someone that’s compatible. Someone that makes us laugh and smile. A true companion. A love like cool water. More of a long play, as opposed to a violent, fiery, torrid affair.

Then you have the true gamblers. The ones who won’t settle for anything less than true love. Real passion. I have a lot of respect for those folks for a variety of reasons:

1) Firstly, I’ve been there. And it’s awesome.

2) Secondly, I know how painful it can be if this beautiful construct unravels (or is unrequited).

3) Thirdly, this special type of person runs the risk of never finding what they’re looking for.

4) Fourth, and perhaps worst of all, you run the risk of feeling what it’s like to think to yourself “My Baby Laid Out All Night“:

I’ve got a young kiddo in tow these days, and I often think about what I’ll tell him about falling in love and assorted ailments. Hopefully, he’ll see the love his mother and I have and continue to share, and that will help him find his way. Ultimately, I suspect that love has different seasons. It changes over time, and sometimes, if you’re lucky, it’s reborn time and time again like the cherry blossoms in Prospect Park.

cherry blossom bbg

 

 

 

 

 

I also think that it’s worth considering that other facets of life also fit the “hedge your bets” analogy. For example, marketers that always play it safe and stick with mainstream “best practices” typically don’t go far. Yet at the same time, marketing mavericks that always shoot from the hip and use their mouths (and keyboards) to make bets their skills and connections can’t cash run the risk of ending up in the unemployment line.

So hedge your bets wisely my friends.

Comments on this entry are closed.

  • http://www.netsprinter.com Lyena Solomon

    Hedging bets does not work in every situation. For example, take trust. You cannot hedge trust – you have to go all in or all out. It also helps to have reliable data and a smart team to decide how to proceed.
    Great thoughts, Hugo. Glad you are back blogging.

    • hugoguzman

      Thanks for the kind words of encouragement and for taking the time to comment, Lyena! I would argue that trust is a subset of romantic love. You may choose to be all or nothing when it comes to love but I definitely know folks that “hedge” their trust in loved ones. As far as marketing and business is concerned, I agree that data and smart people can go a long way. Cheers!