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What does "Have skin in the game" mean?
To have a personal stake or investment in the outcome of a situation, particularly in a way that influences one's decisions or actions.
When do you use "Have skin in the game"?
This phrase is appropriate in discussions about investment, commitment, accountability, or risk in business, finance, or personal situations. It's often used to emphasize the importance of having a personal stake in the outcomes being discussed.
"Have skin in the game" Usage Examples
- Investors are more likely to trust a startup if they see the founders have skin in the game.
- When making decisions about company policies, it's crucial for executives to have skin in the game to ensure they prioritize the company's success.
- Many voters believe politicians should have skin in the game to ensure they understand the impact of their policies on everyday citizens.
- In sports, coaches who have skin in the game often motivate their players more effectively because they share the same risks and rewards.
- Before we proceed with the project, I want to see if the team has skin in the game to ensure their commitment.
"Have skin in the game" Explained
The phrase 'have skin in the game' is believed to have originated from gambling, where players risk their own money. If they lose, they suffer a direct personal loss, which makes them more invested in the game's outcome. This concept has since expanded to other areas, such as finance and business, where individuals or stakeholders are more likely to act responsibly if they have something to lose or gain.