Everyone buys that there is no reward without risk.
Top of mind for me lately: how do we create an asymmetric risk-reward profile with whatever we are building? AKA – how do we maximize the upside while minimizing the downside.
Let’s chunk this big question down to many sub-questions.
Here we go:
What is my unfair advantage?
What are my 2nd degree unfair advantages? AKA – unfair advantages of folks in your network.
What resources do I have? Itemize these.
What resources can be made available to me with minimal input? Itemize these too.
What would a favorable outcome look like? Dream scary big here.
What are the most creative ways to reach that outcome? Nothing is a bad idea at this stage. Get wildly open minded here.
How do I embed network effects and/or multiply my efforts? Create maximum leverage through tech and people.
What strategies will save me years getting to where I want to go? Think through the pros and cons of each – everything has a tradeoff.
What are my biggest barriers to growth right now? Remove these – it could be real or mental.