AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min snip
The Investing Expert: We’re Raising The Most Unhappy Generation In History! The Unseen Link Between Marriage & Wealth! Hard Work Doesn't Build Wealth! - Scott Galloway
The Diary Of A CEO with Steven Bartlett
Embrace Calculated Risks, Avoid Slow Failures
Managing risk becomes essential as responsibilities increase with age, particularly for parents. Younger individuals can afford to take greater risks since they have the flexibility to recover from failures. However, as one grows older, it's crucial to adopt a more cautious approach when starting a business. Utilizing other people's capital and setting firm boundaries around investments helps mitigate the dangers of prolonged failures, which can drain resources and sap motivation. While fast failures can serve as valuable lessons, slow failures are particularly damaging. Allocating only a small percentage of personal capital to new ventures is necessary to absorb potential setbacks without deep financial repercussions. Therefore, as responsibility increases, it's important to navigate entrepreneurship with a strategy that minimizes risk and maximizes learning opportunities from swift setbacks.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode