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This dynamic is analogous to startups—it’s okay to try things that fail, and the startup community must recognize when something isn’t working and move on.
Brad Feld • Startup Communities: Building an Entrepreneurial Ecosystem in Your City
Build the business plan as if the business isn’t going to succeed”
Chip Conley • Chip Conley: Building Empires, Tackling Cancer, and Surfing the Liminal - The Tim Ferriss Show • Podcast Notes
I loved this concept of evaluating your own potential cause of death as a venture firm. Over the last few years the number of venture firms has grown from ~900 to nearly 2,000 different firms managing $500B+ of capital. In a market correction some people predict as many as 50% of those firms could fail. One prediction I have is that as venture fund... See more
Kyle Harrison • The Death of a Venture Fund
In your business, the better your failure expectation strategy, the faster you’ll grow. For example, let’s say you sell a make-up tutorial course. You send it out to some friends and family who might be interested, but all you hear are crickets. Fortunately, you have failure expectation strategies up your pocket. You tell another group of friends,
... See more