<b>How to start a business<br/></b>Suppose you want to start a business. There are two approaches many founders take. (1) Pitch the idea to VCs to have them fund the business. (2) Bootstrap the business and self-fund it.<br/><br/>Daniel Vassallo talks about a third approach which is not discussed as often in technology circles: The portfolio of small bets. The problem with both VC-funded and bootstrap startups is that they are big bets. The portfolio of small bets is the opposite. <br/><br/><b>Tips and techniques Daniel shared<br/></b>Here are some of the tips and techniques that Daniel shared in this podcast conversation:<br/>1/ What is the portfolio of small bets idea and why does it work?<br/>2/ Daniel’s Portfolio of Small Bets course, which only admits 25 people and is sold out.<br/>3/ Given a choice should you try to limit the downside or maximize the upside?<br/>4/ Between surviving and thriving, which should you choose?<br/>5/ One reason why small wins are better than small losses, and how to use small wins to build a business.<br/>6/ When should you give up on an idea, and a technique that lets you almost never give up.<br/>7/ How to create businesses in a way that turns time into an ally instead of an adversary.<br/>8/ How to evaluate your ideas and figure out the best ones.<br/>9/ How to use the VC-mindset in your small bets portfolio, and how to run multiple projects in parallel.<br/>10/ The advantages of running projects in parallel instead of running them sequentially.<br/>11/ How much money should you save before going independent, and the downside of having too much savings.<br/>12/ An incremental technique for gradually moving from full-time employment to entrepreneurship.<br/>13/ A specific visualization technique that you can use to evaluate bets before starting.<br/>14/ How to evaluate new ideas and how to choose between ideas, even when you have no idea which one will succeed.<br/><br/><b>Where to find Daniel’s products</b><br/>Here is link to Daniel Vassallo list of products (his portfolio of bets): <br/><a href='https://bio.link/dvassallo'>https://bio.link/dvassallo</a><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

Mighty Creators

Asim Jalis

Daniel Vassallo: How to use the Portfolio of Small Bets technique to create a business without taking big risks

OCT 26, 202129 MIN
Mighty Creators

Daniel Vassallo: How to use the Portfolio of Small Bets technique to create a business without taking big risks

OCT 26, 202129 MIN

Description

<b>How to start a business<br/></b>Suppose you want to start a business. There are two approaches many founders take. (1) Pitch the idea to VCs to have them fund the business. (2) Bootstrap the business and self-fund it.<br/><br/>Daniel Vassallo talks about a third approach which is not discussed as often in technology circles: The portfolio of small bets. The problem with both VC-funded and bootstrap startups is that they are big bets. The portfolio of small bets is the opposite. <br/><br/><b>Tips and techniques Daniel shared<br/></b>Here are some of the tips and techniques that Daniel shared in this podcast conversation:<br/>1/ What is the portfolio of small bets idea and why does it work?<br/>2/ Daniel’s Portfolio of Small Bets course, which only admits 25 people and is sold out.<br/>3/ Given a choice should you try to limit the downside or maximize the upside?<br/>4/ Between surviving and thriving, which should you choose?<br/>5/ One reason why small wins are better than small losses, and how to use small wins to build a business.<br/>6/ When should you give up on an idea, and a technique that lets you almost never give up.<br/>7/ How to create businesses in a way that turns time into an ally instead of an adversary.<br/>8/ How to evaluate your ideas and figure out the best ones.<br/>9/ How to use the VC-mindset in your small bets portfolio, and how to run multiple projects in parallel.<br/>10/ The advantages of running projects in parallel instead of running them sequentially.<br/>11/ How much money should you save before going independent, and the downside of having too much savings.<br/>12/ An incremental technique for gradually moving from full-time employment to entrepreneurship.<br/>13/ A specific visualization technique that you can use to evaluate bets before starting.<br/>14/ How to evaluate new ideas and how to choose between ideas, even when you have no idea which one will succeed.<br/><br/><b>Where to find Daniel’s products</b><br/>Here is link to Daniel Vassallo list of products (his portfolio of bets): <br/><a href='https://bio.link/dvassallo'>https://bio.link/dvassallo</a><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>