My startup is red-hot. Here's why I'm betting it will be a massive failure.
Hedging my bets
My startup is my life’s work.
It’s currently enjoying “hockey stick growth” and it’s my proudest business accomplishment.
I believe in the people, the products, and most importantly the customers…
But I’m also betting BIG that it will be a serious failure.
Don’t get me wrong, I’m extremely confident in my startup. But I’ve been living in the real world long enough to know that it could easily fail…
Even if I do everything right.
In fact, I’ve been betting on my startup’s failure since the day I launched it.
When I left my job at mega-corp, I actually launched two business at once.
A marketing agency and my startup.
In my agency, I work with large clients who have proven products…
So I know I can have steady cashflow no matter what happens with my startup.
I also have at least one major business partner in each of these ventures; this hedges against my own mistakes and biases.
Now that the agency is doing fairly well, I’m taking the profits and buying multi-family real estate.
I’m also investing heavily in blue chip public equities…
In addition to a small portfolio of riskier assets like cryptocurrency and junior miners.
Each one of these “baskets” has a plausible path to millions…
So even if 2 or 3 of them fail, I am on track to be a millionaire at my relatively young age.
And in a funny way - what I’m doing is MORE conservative than keeping a W2 day job.
When I left my job at megacorp (and took a huge pay cut) some of my co-workers were appalled at the “risk” I was taking…
But the division I worked for is all but bankrupt…
And many of those co-workers are now out of job by no choice of their own. Meanwhile, I have multiple uncorrelated income streams - and I can’t be fired from any of them.
So, what will you do if your business, your job, your main hustle fails?
I know what I’ll be doing.
And what if even that fails?
What if all my careful hedges fail at once (certainly possible!) and I can’t make money from my startup, marketing agency, real estate or investments?
I’ll know I gave it my all…
And I hope you’ll all come see me for a new or lightly-used 4Runner at one of Miller Toyota’s fine locations.