Successful Entrepreneurs are often characterized as “Risk-Takers” — But, wait…

The 99% of UNsuccessful Entrepreneurs Were Risk-Takers Too!! So…

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If I constantly see photos of sad people sitting in front of brick walls… can I conclude that brick walls are the CAUSE of sadness?!?

You will OFTEN hear about / read about the <1% whose big RISK-TAKING resulted in great success, fame, wealth, etc. But you will RARELY hear about the >99% whose big risk-taking led to failure — accompanied by stress, anxiety, regret, depression, bankruptcy, divorce… — or worse!


So… What’s My Point?

*AND WHY DOES IT EVEN MATTER* if we‘re giving “RISK-TAKING” too much credit for entrepreneurial success stories??

  • It matters because it creates a startup culture that (unnecessarily — and, in my opinion, unwisely) encourages risk-celebration and risk-glorification (rather than risk-mitigation)…
  • It matters because it indirectly encourages “risk-tolerance levels” to be used as a primary means of differentiating “REAL” Entrepreneurs from those who “don’t have what it takes”
  • It matters because it establishes caution, risk-aversion, and pragmatic decision-making (a reluctance to ignore probability and statistics by going “All-In / Full-Time” initially) as bad things, as weaknesses, as a “weeding out” criterion (for “what it takes to be an entrepreneur”), essentially choosing Optimism Over Objectivity and prioritizing “risk-taking & risk-tolerance” ABOVE criteria like: Intelligence? Talent? Skill? Ability? Expertise? Creativity? Passion? Hustle? Motivation? Determination? Dedication? Work Ethic?
  • And that all matters because it’s pushing away a HUGE talent pool of potentially-phenomenal founders, co-founders, and entrepreneurial employees (who could have been valuable assets to a plethora of Idea Stage / Pre-Revenue startups, if only it weren’t so frowned upon to mitigate risk and start as a part-time entrepreneur — Sacrificing Weekends And Nights #SWANstartups)… And it’s keeping this HUGE talent pool away from YOUR Startup… from MY Startup… and from a yet-to-be-founded, Game-Changing Startup [that will one day create the medical device that will be used to cure the rare form of cancer that your future grandchild will one day get diagnosed with!]**
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THIS IS INTERMISSION.



ACT 2 BEGINS IN 3… 2… 1…


For Discussion/Debate:

If you had to choose one, who would you choose as a CoFounder or a key member of your core startup team (like a CTO), someone from Group 1 or Group 2:

GROUP 1:

- Super-smart, great experience and expertise, one of the best at what they do (coding, design, sales, digital marketing, whatever) — therefore probably twice as effective/efficient (minimal learning curves necessary) compared to an average/new person. Awesome culture fit, totally understands what you’re trying to build, your vision, the value prop, etc. However —
Never really been a big risk-taker. And, as a rational-thinking pragmatist who values probability and statistics and recognizes the realistic likelihood of startup success as the long-shot that it statistically is, there’s just no way they are going to leave the comfort/security of the big salary and great benefits of their current job (that would be crazy!), so they could initially only commit 10 to 20 hours/week to join you, primarily weekends and nights. Would be open to going all-in/full-time in the future — after you have achieved Product-Market-Fit or significant funding or profitability (or ANY Reliable Objective Indicator that you’re not just one of the 99% of startups that will fail despite truly believing you are the 1% that will succeed).

GROUP 2:

- Average intelligence, minimal experience, no real areas of expertise, but they’re a born risk-taker (and/or come from a wealthy family) so they’re able to join you FULL-time (initially for no pay or below-market pay) — plus, they have minimal opportunity cost because they’ve only really ever held entry-level jobs before. Plus, after months of frustrating networking events in search of a cofounder or CTO, you’ve so far only really been able to convince 2 or 3 others that they should consider joining you — and this “Average Alex” is probably the best of that group of 3...


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Entrepreneurial Epiphanies & Lessons Learned + Thoughts &…

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“ReThinking Startups”

Written by

JOIN US in ReThinking Startups / ReThinking WHATEVER! LAUNCH & LEARN! New Products, Content, Marketing, Side Hustles, STARTER STARTUPS! info@StartupWhatever.com

STARTUP WHATEVER!

Entrepreneurial Epiphanies & Lessons Learned + Thoughts & Theories Pertaining to Problems & Pitfalls = Innovative Improvement Initiatives & NEW “ReThinkingStartups.com **S.H.I.T. to Share!” **[Strategies, Hypotheses, Insights, Theories]

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