<div class="bbWrapper"><blockquote data-attributes="member: 41415" data-quote="ZF Lee" data-source="post: 1132970"
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I think we can do Strategy A, but long enough to gain enough experience/connections/whatever resources to do Strategy B.<br />
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If we look back at MJ's example, he started working as a limo driver that most likely would take the Strategy A option of working and persisting for many years to make it big. But he ended up taking what he knew on limos into the Internet...a new thing back then. A shift to Strategy B.<br />
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Another example in my line of work:<br />
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I'm still on Stefan Georgi's list. He's a big name in copywriter training, yet he's shifting to selling good ol' products instead of guru stuff-- supplements in his case.<br />
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He took his 'Strategy A time' in copywriting & direct response, and put it to work in a 'Strategy B' approach for supplements.<br />
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Supplements aren't totally novel, but eventually you realise how many value skews can appear for every one of Big Pharma's failures. And how many mixes of natural remedies are already out there-- just waiting to be met with the right audience...
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</blockquote>You could have a core A that is growing and occasionally tries B (a very exciting opportunity emerges) and see where it takes you to.<br />
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If it doesn’t work you just come back to A.<br />
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But I was trying to raise the awareness of different strategies and their implication.<br />
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Figure out if you are doing A or B first.<br />
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A lot of business advice being thrown our here and elsewhere are actually implicitly based on A strategy or B strategy. A lot of the silicon valley buzzword and mindset are based on B strategy. Design a MVP, test for product market fit, market to get things viral….try things and fail fast.<br />
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A is less likely to grow fast but B is actually more demanding on your ability to learn new things in new environment and adapt fast and make quick important decision correctly and take up more financial risk.<br />
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The benefit of A is that you can reap a lot of long term reward that is not possible in B. (Something like compounding interest of experience, network and clients base). I copy MJ’s vocabulary and call this long term industry monogamy.<br />
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I know ZF you are into trading so this might sound familiar.<br />
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A is “like a fundamental based investor” who does buy and hold. With the right thesis and grit he will make it and compounding works in his favor. In investment only money gets compounded but in businesses many other factors get compounded together.<br />
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B is “like a leveraged trader with a tight stop loss.” He takes many small losses and finally a big win.<br />
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I am sure everyone heard about career planning. With this strategy and framework you can to a less extend, plan your business progression.<br />
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I remember Antifragile advised a younger forum member to just focus on learning everything about doing real estate deals and finding deals to make it happen. I quote him saying “Real estate takes ten years, you can start now, or waste three years then start later.”<br />
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This is a straight A strategy mindset and outlook.<br />
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If you are into MVP, product market fit, getting things going viral, test things and fail fast, that is a definitely a B strategy play book.</div>
