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π‘ Entrepreneurial Insight
Successful entrepreneurs often speak about the Law of 100.
Commit to doing things 100 times before drawing a conclusion. This can include marketing emails and posts, outreach on a new channel or interviews with customers.
Based on the Law of 100 popularized by Noah Kagan (8-figure bootstrapped founder of AppSumo) in his best-selling book or Jimmy Donaldson (MrBeast) on Lex Fridman.
βοΈ Balance Hack
Let randomness take over - on purpose.
Achievements are often based on statistics and randomness. There are millions of paths to success.
βEmbrace that randomness and learn acceptance. Let a random generator make a non-important decision in your business, ask the waiter to surprise you at the restaurant, or let AI decide which event to attend next week.
Based on the scientific insights from ex-trader and math professor Nassim Taleb in 'Fooled by Randomness' and the tactical tips on randomness by bootstrapped founder Derek Sivers.
π Challenge
For this week, every day after you've done your work, find one little learning, insight, failure or achievement you can share.
Share it on social media, with a founder peer, a friend or your customers. Experiment with the notion of sharing your work. And notice the impact it has on your business and yourself.
Inspired by concepts from best-selling author and content creator Austin Kleon in 'Show Your Work'.β
β¨ Recommendation
Avoiding bad decisions is easier than seeking brilliant ones. To do so, apply 'Inverted Thinking' to your startup:
Instead of asking, "How can I achieve X?" you ask, "What would guarantee that I fail at X?" Once you identify the causes of failure, you work systematically to avoid them.
Inspired by a good friend who applies this technique in his startup and based on the mental model recommended by businessman and investor Charlie Munger.β
β Question for you to ask another Entrepreneur
If I looked at your week, what did you fail at? (And if the answer is 'nothing', are you actually innovating, or just playing it safe?)
βInspired by Sara Blakely, bootstrapped founder of Spanx who grew it to a billion-dollar company over 20 years.