When you start a business, you’re making a bet. Not all bets are equal! Investing $100k in Business A vs Business B could have dramatically different outcomes. What’s surprising is how few entrepreneurs consider the possible range of outcomes (the upper and lower bounds).
Of course, in relation to what you choose, *who* you are matters a lot. But many entrepreneurs have multiple opportunities they could pursue. Choosing the option with the best possible upside (given your strengths) is the aim.https://twitter.com/mijustin/status/1221504985101291520?s=21 …
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We can’t talk about increasing the chance for success without addressing this truth: Anyone can start a business, but that doesn’t mean everyone should. Some people are starting the wrong businesses. But also, some people are the wrong kind of people to be starting businesses.
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In the same way: anyone can try to become a pro skateboarder, but that doesn’t mean everyone should. (The same is true in business, poker, salsa dancing, modeling, and karaoke).
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Evaluate your potential upside/downside. If you really want to start a restaurant, and you’re willing to take the risk, do it! But if you’re a polymath, and you could be happy doing any number of things, you should definitely consider your options. great data from
@mjwhansen:https://twitter.com/mjwhansen/status/1381287420461780992 …
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