Do MoreLittle Bets by Peter Sims
Key Takeaways
Most successful entrepreneurs do not begin with a brilliant idea, they discover them (Google, Amazon)
The experimental, iterative, little bets framework allows you to approach problems in a non-linear and creative fashion
When we can’t know the consequences, little bets can give you valuable insight with little risk
Successful people tend to think of learning as most people think of failure
Entrepreneurs don’t try to avoid errors or surprises; they seek to learn from them.
The most successful teams are analytic, rigorous and pragmatic but do not follow a formula that can be followed
The little bets approach focuses more on how much you can lose rather than what your upside is
Great successes welcome failure as they learn from them and persevere through many failures because know they will learn a lot, especially when first formulating ideas. Of course, failing not the key but rather systematically learning from the failures
Growth mindset over fixed vital (if work hard can learn and improve). Pixar an ideal example as they are afraid of complacency, extremely open and always looking to learn
“Healthy insecurity” a common feeling for secure and successful people
Perfectionism can be healthy or unhealthy depending on if you’re seeking excellence for self or for others’ approval
Prototyping, getting something out no matter how bad you think it is, is a great learning opportunity
Working with constraints often very helpful and often begins by breaking a large project down into small and manageable pieces
Asking the right questions, the most important thing today. Must go deep, wide and be focused to discover what the right questions are
Creativity is simply connecting things
