Have an exit plan.
Successful business people are usually quite risk-averse, regardless of what they say in public. They never go all in, at least money-wise.
They are quite focused on success of their life and business, but they also know there are thousands of ways to achieve it. Therefore they never cling to one idea; they do hundreds of experiments and pick only one or two that work well. And they keep doing that until, or even after, they achieve what they wanted to achieve.
How do they choose? They have a clear guideline, or an exit plan, before doing experiments. If the outcome doesn’t meet their criteria, they will exit—no matter how they love the idea.
This is the strategy we also should apply to our personal life. No one wants to fail, but we will most likely fail if we go all in without any experiments and clear exit plan. We shouldn’t live our life like compulsive gamblers.