Daniel Vassallo

Daniel Vassallo quotes on failure

Building a portfolio of small bets. Quarter-time with Gumroad. Building userbase.com. Creator on dvassallo.gumroad.com. Ask me anything at daniel@hey.com.

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1

If you sell a subscription for $10/mo, and you add just 1 net new customer per day... After 5 years: - you'd have collected $547K. - you'd be doing $18K/month in revenue. Failing fast isn't the only option. You can also try to succeed slowly.

2

Thinking about working for yourself? Forget about failing fast. Go for the low hanging fruit first. Then take more aggressive risks once your independence is sustainable. Why? Because this approach almost never fails.

3

If you manage to build a business that you can operate at a very low cost (including your time), you almost cannot fail. Worst case scenario is a slow success.

4

If you create things that you can keep on the market at a very low cost (including your time), you almost cannot fail. Worst case scenario is a slow success.

5

Failure is a very expensive way to learn. But exposure to failure is enough to learn the same lessons. You don’t need to actually fail. Don’t let the narrative of failure is a good teacher influence you. Study your opportunities carefully, and then go for the low hanging fruit.

6

If you have high running costs, time is your enemy. Every day adds new obligations. Your profits must always beat time. If you have negligible running costs, time is your friend. Every day adds new opportunity. You almost cannot fail. Worst case scenario is a slow success.

7

Curb your ambition, and go for the low hanging fruit. If you start killing it with the low hanging fruit, it becomes easier to see how to go after the harder to reach fruit. If you fail with the low hanging fruit, you wouldn't have reached the more ambitious picks anyway.

8

You don't overcome the fear of failure by suppressing fear, but by figuring out how to make failure not consequential. Our subconscious provides checks and balances on our ambitions, and protects us from taking imprudent risks. Ignoring it would be quite foolish.

9

To reduce the risk of failure you have to understand who you really are (versus who you wish you are). Your preferences, not the preferences of others. Your strengths, not those you wish you had. Things become a lot easier once you're genuinely real with yourself.

10

Becoming self-employed is easy. Staying so is hard. Once you become exposed to the risk of failing to make it sustainable, you change. You become more risk averse, because you wouldn't want this lifestyle to be taken away from you.

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