Take the Leap into Self-Employment by Making Small Bets

Entrepreneurship can be a lonely journey if you’re still working, so I began seeking out communities of people making the jump. If you’re interested, I started one of my own, but I stumbled upon a group I want to share if you’re looking to jump into self-employment.

Daniel Vassallo was working for Amazon but decided he wanted to balance out his lifestyle by working for himself and doing more of what he wanted to do.

The general advice is to go all in on one thing to the exclusion of everything. I’ve always pushed back against that because I had (and have) a lot of ideas, and it’s hard to choose just one.

But Daniel saw a different reason why going all in on one thing isn’t the move. Movie studios, publishing houses, and record labels make bets on which projects will do well by investing in many, hoping one will be the big hit.

Betting on many things is prevalent in the entertainment industry and the venture capital world.

Daniel’s point is, why not apply that to your entrepreneurial endeavors? Instead of spending six months developing a product that may or may not succeed, the Small Bets principle is to make a series of small products or ventures and then watch what works versus what doesn’t.