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From PayPal Intern to Starting 4x Billion-Dollar Companies - Joe Lonsdale Interview
My First Million
The Importance of Singular Strong Reasons in Decision Making. Avoid Blended Reasons.
In making decisions, it is crucial to rely on singular strong reasons rather than having multiple blended reasons. Successful outcomes usually stem from one dominant reason, following the power-law rule where one factor outweighs others significantly. This principle applies in startups, where having multiple weak reasons indicates a lack of a strong, central driving force. Focusing on one strong reason is essential for the success of a company, as diversifying efforts into multiple objectives can dilute effectiveness and hamper growth. It is necessary to identify the primary revenue stream or growth strategy to channel efforts towards exponential success. Embracing blended reasons for decision-making, involving long lists of pros and cons, often leads to mediocre outcomes. The key is to have a singular, compelling reason that justifies the decision effectively.
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