Optimal Work Daily - Career, Productivity and Entrepreneurship 1761: [Part 2] The 5 Biggest Assumptions I’ve Made About Business by James Altucher on Startup Experience
Jul 27, 2025
Dive into the hidden assumptions that often derail business success. Learn how questioning conventional wisdom can unlock creativity and new opportunities. Discover why psychological dynamics matter in entrepreneurship, not just product strategies. Hear a personal story about facing emotional challenges during a company sale, emphasizing the importance of taking breaks and finding joy amidst the chaos. This exploration encourages a reassessment of what we think we know about business.
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Myth About Business Failure
- The myth that nine out of ten businesses fail in the first year is simply wrong.
- Many businesses end for reasons like being sold or merging, not necessarily failure.
People Management is Half the Battle
- Half of entrepreneurship is dealing with the psychology of people: partners, shareholders, employees, and others.
- Most small businesses spend more time managing people than focusing purely on the product.
CEO Ignored Cash Runout Warning
- A CEO ignored warnings about running out of cash and delayed selling the company.
- The firm almost missed payroll, but a sale finally happened, preserving value for shareholders and the CEO.