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⏳ Write Down Your Risk-Taking Factor

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⏳ Write Down Your Risk-Taking Factor

T.I.N.Y Blog, Time Billionaires #025

Aadit Sheth
Nov 30, 2022
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⏳ Write Down Your Risk-Taking Factor

timebillionaires.substack.com

Hello to 16,571 nerds reading this T.I.N.Y blog.


TL;DR (feel free to skip around):

  • Thought: Think about your risk-taking factor

  • Interesting: How to sleep better

  • Not to be missed: How to build stuff with AI

  • Yes: Sometimes you earn, sometimes you learn.

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What’s your risk-taking factor?

I’ve realized that everything you do comes down to one thing: the risk-taking factor.

If you are reading this right now, chances are you have an entrepreneurial mindset. You want to build things that should exist in this world. Or they do exist but you can do it better.

Then one thing you have to consider is your risk-taking factor (especially if you are going to quit your job to work for yourself).

The risk-taking factor isn’t entirely dependent on age. But it has a strong correlation:

Generally, the older you get, the lower your risk-taking factor.

This is mostly because as you grow older, you have more responsibilities: kids, spouse, and societal expectations. There are a lot of things to take care of as you grow older.

There are of course exceptions to what I said above. There are plenty of people that have a comfortable, stable life but they’ll risk everything on the line for passion, ambition, or sometimes literally just more money. I spoke to Brett Adcock a few months ago. And I was shocked by how ambitious he is.

But one thing you should not forget is that the risk-taking factor is also an important part of being an entrepreneur. If you are afraid to take risks, you will never maximize the potential of an idea or venture.

The hardest thing is finding that balance. And sometimes once you’ve taken a risk of a substantial size, it feels like “all or nothing”.

The best thing I’ve found to do in this situation (regardless of age), is to secure yourself financially before taking any big risks. Usually, I love seeing people take huge risks and make things happen.

But I’ve been hearing more stories about people losing their money in things they don’t understand (i.e. crypto) and it’s just not worth it.

So again… ensure you and your family are financially secure.

And then the next thing I love doing to assess if a risk/business is worth pursuing:

Simple pros vs cons list.

It’s easy to do. Doesn’t take that long. And honestly, it cuts the crap. Simply state the rewards versus drawbacks of doing a certain thing. Write it down. Not in your head. But on a piece of paper. It works best.


How to sleep better

This is an experiment that a couple tracked.

Note that it is just one couple.

But I love the visual representation.

Twitter avatar for @gregisenberg
GREG ISENBERG @gregisenberg
A young couple tracked the effects of 10 different 30-day sleep quality experiments over the last 18 months Pretty fascinating...
Image
2:27 PM ∙ Nov 25, 2022
21,372Likes2,036Retweets

Build stuff with AI

Sahil Lavingia (@shl) is one of my favorite follows on Twitter.

I love how transparent he is with sharing his projects, how he built them etc.

He recently launched askmybook.com. It’s a tool that you can use to ask questions to and it’ll give you answers from Sahil’s book. Pretty cool!

Even cooler is that he shared how he built the project in 10 hours.

Check it out:


Sometimes you earn, and sometimes you learn.


+ Aadit’s picks:

  1. Newsletter: The Business Academy

    Sieva shares deep insights into the deals and investments he’s making. It’s not investment advice but it helps you get an insider view of a smart and long-term investor.

    The Business Academy

    Once a week you will receive a succinct email with one of the following: our favorite tweets of the week🐥, a cool investment opportunity💰, or an interesting business insight 📊
    By Sieva Kozinsky
  2. Podcast: The Crazy Ones

    Some of my favorite business builders and creators like Codie Sanchez are coming on and sharing their stories.

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⏳ Write Down Your Risk-Taking Factor

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