Success is 99% failure. Success represents the 1% of your work which results from the 99% that is called failure.

productivity

Productivity

personaldevelopment

Personal Development

moneyandinvestments

Money & Investments

entrepreneurship

Entrepreneurship

business

Business

Honda

The way successful VCs make decisions is different from the way traditional corporations do: They use what we call the venture mindset. One of its hallmarks is a high level of comfort with failure. VCs expect up to 80% of their investments to fail. This is a feature—not a bug—of their business model. The investment thesis is that even if 19 of 20 start-ups fail, 1 investment will be a home run and cover the losses from all the failures combined—and then some. In other words, home runs matter; strikeouts don’t.

Home Runs Matter; StrikeOuts Don’t.

VCs don’t worry about protecting capital from failures and losses. They fear missing out on an opportunity that might change the destiny of a company or an entire sector. As Alex Rampell of venture firm Andreessen Horowitz (a16z) told us, “In the VC world, errors of omission are much more damaging than errors of commission.” Bill Gurley of Benchmark Capital echoed that sentiment in a Vox interview: “If you invest in something that doesn’t work, you lose 1x your money. If you miss Google, you lose 10,000x your money,” he said. VCs don’t seek common denominators; they look for outliers.

Errors Of Omission Are More Damaging Than Errors Of Commission

“If you invest in something that doesn’t work, you lose 1x your money. If you miss Google, you lose 10,000x your money.”

Venture capitalists’ unique approach to investment and innovation has played a pivotal role in launching one-fifth of the largest U.S. public companies. And three-quarters of the largest U.S. companies founded in the past 50 years would not have existed or achieved their current scale without VC support. The question is, Why? What makes venture firms so good at finding start-ups that go on to achieve tremendous success? What skills do they have that experienced, networked, and powerful large corporations lack? The authors’ research reveals that the venture mindset is characterized by several principles: the individual over the group, disagreement over consensus, exceptions over dogma, and agility over bureaucracy. This article offers guidance to traditional firms in using the VC mindset to spur innovation.

corporateculture

Corporate Culture

startup

Startups

leadershipandmanagement

Leadership & Management

Make Decisions with a VC Mindset

In the ever-changing landscape of both "Fallout" and the market, the ability to adapt to new conditions, like resource scarcity, determines survival and success. Businesses must pivot strategies when the market shifts to remain competitive.

Adaptability is Key

Success in business is not about predicting the future, but about being able to quickly adapt to it. The market will always be a moving target, and the ability to pivot and evolve is what keeps you ahead.

Just as players craft new items or solutions from scarce resources, businesses that innovate create value and carve out niches in the market, often leading to significant competitive advantages.

Innovation Drives Progress

"Innovation is the central issue in economic prosperity. It's not just about new ideas, but about the practical application of those ideas to improve our lives. Without innovation, progress stalls."

The value of items in "Fallout" fluctuates based on scarcity and necessity, mirroring real-world economics. Understanding and anticipating market demand can lead to profitable opportunities.

Supply and Demand Rule

"The law of supply and demand is more than a simple economic principle; it is the heartbeat of the market, dictating the rhythm of production, pricing, and availability. Mastering it is akin to understanding the language of business."

Managing limited resources wisely is crucial in "Fallout" and business. Allocating resources effectively can mean the difference between thriving and failing.

Efficient Resource Management

"Efficient resource management is the cornerstone of business success. It's about doing more with less, ensuring every asset is leveraged to its fullest potential for maximum impact."

Aligning with the right factions or groups in the game can provide benefits and support. Similarly, strategic business partnerships can open up new markets and opportunities.

Strategic Partnerships

"Strategic partnerships are the bridges between what is and what can be. They are a testament to the power of collaboration, multiplying the strengths of each partner to achieve shared success beyond individual capabilities."

Choices in "Fallout" often come with moral implications. In business, ethical practices can build long-term trust and loyalty among consumers, while unethical practices can lead to downfall.

Ethical Considerations Matter

"Ethics in business is not just a moral compass, but a competitive advantage. It builds trust, enhances brand reputation, and sustains long-term relationships with customers and stakeholders."

Venturing into unknown territories in "Fallout" can yield high rewards but also high risks. In business, taking calculated risks is often necessary for growth and innovation.

Risk and Reward

"In the world of business, the balance between risk and reward is delicate and crucial. Taking calculated risks is the fuel for growth and innovation, a leap into the unknown with the promise of great rewards."

These lessons from "Fallout" illustrate the importance of adaptability, innovation, understanding market dynamics, efficient resource management, strategic alliances, ethical decision-making, and risk management in navigating the complexities of capitalism.

The Conclusion

"Fallout" offers several insightful takeaways on capitalism through its post-apocalyptic setting, which can be applied to real-world economic.

Discover the world of business and economics.

economics

Economics

strategy

Strategy

Fallout : The Post-Apocalypse Capitalism Manifesto

The way to get started is to quit talking and begin doing.

Don't be afraid to give up the good to go for the great

Innovation distinguishes between a leader and a follower

The only way to do great work is to love what you do

If you really look close, most overnight successes took a very long time

In the business world, everyone is surrounded by sharks. The only competitive advantage a small company has with a big one is it can turn on a dime

If you're not embarrassed by the first version of your product, you've launched too late.

The biggest risk is not taking any risk... In a world that's changing really quickly, the only strategy that is guaranteed to fail is not taking risks.

Failure is simply the opportunity to begin again, this time more intelligently.

The important thing is not to stop questioning. Curiosity has its own reason for existing

The secret of successful hiring is this: look for the three qualities that are hard to find - integrity, intelligence, and energy - and if you can't find them all in one person, hire three people.

You don't build a future by worrying about what happened yesterday.

Adversity introduces a man to himself.

Everyone hears noises; a few listen.

The critical ingredient is getting up and doing something. It's by far more important than having an idea or a plan.

If you're not a risk taker, you should get out of business.

The ones who are crazy enough to think they can change the world, are the ones who do.

Don't be afraid to give up the good to go for the great.

If you need to become a master at something, you need to be able to surround yourself with everything related to that "something" only.

I have not failed. I've just found 10,000 ways that won't work.

From the greatest minds ever, I bring to you 19 quotes that will lead you to success.

motivationandinspiration

Motivation & Inspiration

education

Learning & Education

19 Quotes to Lead Your Way to Success

The poor and the middle class work for money. The rich have money work for them.

Understand that assets put money in your pocket, while liabilities take money out. Invest in assets like stocks, real estate, or businesses that generate income, rather than liabilities like cars or consumer goods that depreciate in value.

Differentiate between assets and liabilities

Look for investments that provide ongoing cash flow, such as rental properties, dividend-paying stocks, or royalties from intellectual property. This way, your money can work for you even when you’re not actively working.

Invest in assets that generate passive income

Continuously educate yourself about personal finance, investing, and entrepreneurship. Read books, attend seminars, and seek out mentors who can provide valuable insights and guidance.

Understand the power of financial education

"An intelligent person hires people who are more intelligent than he is"

Don’t be afraid to take risks, but make sure they’re informed and calculated. If you encounter setbacks or failures, treat them as learning experiences and use them to grow and improve your financial knowledge and decision-making skills.

Take calculated risks and learn from failures

Develop a deep understanding of financial concepts such as compound interest, tax strategies, and asset allocation. The more you know about how money works, the better equipped you’ll be to make smart financial decisions.

Focus on increasing your financial intelligence

Stay curious and open-minded, and always be on the lookout for new opportunities to expand your wealth-building knowledge and skills.

Embrace the mindset of continuous learning and growth

Look for ways to create value and generate income outside of traditional employment. This could involve starting a side business, freelancing, or investing in ventures that have the potential for high returns.

Start thinking like an entrepreneur, not just an employee

Keep track of your income and expenses, and strive to maintain a positive cash flow by maximizing income and minimizing expenses. This will help you build wealth over time and weather financial downturns more effectively.

Learn to manage your cash flow effectively

Live frugally and resist the temptation to spend money on unnecessary luxuries. Instead, focus on saving and investing your money wisely to build long-term wealth and financial security.

Avoid living above your means and prioritize saving & investing

Diversify your sources of income by building multiple streams, such as rental income, investment returns, or income from a side business. This will reduce your reliance on any single source of income and provide greater stability and security in the long run.

Create multiple streams of income

Teachings for understanding and succeeding financially.

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

books

Books

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.

Robert T. Kiyosaki

Rich Dad, Poor Dad

It’s completely OKAY to look & feel stupid at some points of your journey. Not many people have tread the path that you’re walking through. So don’t take yourself too seriously.

Be ready to look stupid

In the age of Social Media, content is the only king. But we’re often too invested in consuming content rather than creating it.<ul><li class="ql-align-justify">So instead of being too caught up in what others will think of us, each one of us should test the waters in content creation.</li></ul>

Stop overthinking, start creating

“To get what others won’t, you have to do what others don’t.” This quote alone sums up the point.

Stand out from your competition

Everything in this universe is a copy of a copy of a copy. Yes, you heard that right!<ul><li class="ql-align-justify">There are millions of businesses in the world. The interesting thing is, most of these are either inspired from other startups or almost a copy of the other. And it’s completely fine to do that.</li><li class="ql-align-justify">You can still gain a considerable competitive advantage by taking inspiration from another product or business and leverage it to your favor.</li></ul>

Stop innovating, start copying

No matter how good you are, it’s never about you or your product. It’s ALWAYS about the customer.At the end of the day, businesses are made to serve the customers. The better you serve them, the better your margins. Simple as that!

The #1 Rule of Selling

A personal brand can be an absolute CHEAT-CODE in the realm of business and professional life. And the best way to do that is by creating content. Consistent habit of creating content can take anyone to places. In the world of content creation, sky is often the limit.

Create a personal brand

According to the words of Raj, customers are your God.Be it any product or any value of your business that you’re selling, always place yourself in the shoes of the one you’re selling to.

Always care about the product and the person you’re selling to

7 Powerful Lessons from "Build Don't Talk"

School taught us specific subjects, like maths and history. But we weren't taught: How to sell Or how to build relationships Or how to negotiate Or how to take care of our mental health Or how to network Or how to deal with personal finance These most important situations we face as adults were never discussed with us when we were students. We weren't taught these skills in school, and this makes all the success stories we hear about seem out of reach; it makes us feel dumb. We aren't dumb, we just don't know how to work the system. Your school taught you how to run in the race; it didn't teach you how to win. And that's what this book is for. To help you win the race. Packed with useful advice gleaned from his own journey as an entrepreneur and content creator, this book by Raj Shamani is a must-read.

marketingandsales

Marketing & Sales

Raj Shamani

Build, Don't Talk

Cyberspace has become an integral part of our daily lives, shaping the way we communicate, transact, and access information. As we progress into 2024, the significance of cybersecurity has taken center stage, with an array of evolving threats and vulnerabilities making it imperative for individuals and organizations to understand the landscape of digital security. In this blog post, we'll explore the essence of cyberspace and delve into the types and nature of cybersecurity in the context of 2024.

Cyberspace and Cybersecurity in 2024

As technology becomes more integrated in our lives, we must prioritize cybersecurity to protect ourselves and our data. By staying aware of evolving threats and utilizing proactive measures, we can navigate cyberspace confidently in 2024. 

To preserve the integrity of cyberspace, we must understand its various dimensions and embrace innovative technologies. By remaining vigilant and adapting to new threats, we can ensure our online safety and security for years to come. 🔒

Cybersecurity in the Digital Age

The world of network security is changing to keep up with the increasing complexity of cyber attacks. With cloud-based services and interconnected networks on the rise, it is essential to protect our network infrastructures. Cybersecurity experts must now defend against more advanced threats like persistent threats and zero-day vulnerabilities, making it crucial to have proactive and adaptable security strategies in place.

The Evolution of Network Security

Artificial Intelligence and Machine Learning are being leveraged to enhance cybersecurity practices. By 2024, AI-driven security solutions will play a pivotal role in identifying and mitigating cyber threats in real-time. The ability of AI to analyze vast amounts of data and detect anomalies aids in fortifying defenses against rapidly evolving attack vectors, enabling a more proactive and responsive approach to cybersecurity.

AI-Powered Security

The rise of IoT devices has made cybersecurity more complex. As we use smart devices more, keeping them safe from hacks and unauthorized access is a top concern in 2024. Protecting against exploitation and ensuring secure data transmission are critical challenges for modern cybersecurity.

IoT Security

What is quantum cryptography?
<ul>
<li>As quantum computing advances, traditional cryptographic methods are at risk of being compromised.</li>
<li>Quantum-safe cryptographic techniques have emerged as a critical area of focus to secure data against potential threats posed by quantum computers.</li>
<li>This represents a major shift in cryptographic strategies and encryption methodologies for 2024.</li>
</ul>
What does it mean for data security?
<ul>
<li>Quantum cryptography offers a solution to the growing threat of quantum computing.</li>
<li>Its development ensures that data is protected and secure in the face of technological advancements.</li>
</ul>

Quantum Cryptography

The integration of digital and physical systems has brought about the need for cyber-physical security. This is essential for protecting critical infrastructure, industrial control systems, and autonomous vehicles from cyber-physical threats in our interconnected world.🔒🛡️👨‍💻
This involves safeguarding against cyber threats in systems such as smart cities, interconnected networks, and industrial processes, to ensure their operational integrity and safety. As technology continues to advance, cyber-physical security becomes increasingly important.📈👀

Cyber-Physical Security

The threat landscape in 2024 is complex and constantly changing. Cyber threats are becoming more advanced and diverse, making it challenging to protect against them. This note highlights key aspects of the current threat landscape and the need for a strategic and multi-faceted approach to cybersecurity defense.In 2024, cyberattacks have become more sophisticated, including ransomware and supply chain compromises. Social engineering methods, deepfake technology, and misinformation have also made the cybersecurity landscape more difficult to navigate.

The Evolving Threat Landscape

Cyberspace is the virtual environment where digital communication, interaction, and transaction take place.

Cyberspace has become an integral part of our daily lives, shaping the way we communicate, transact, and access information. As we progress into 2024, the significance of cybersecurity has taken…

technologyandthefuture

Technology & The Future

cybersecurity

Cybersecurity

artificialintelligence

Artificial Intelligence

Navigating Cyberspace in 2024: Understanding Cybersecurity and Its Types | by Cyberinfosecx | Medium

"Be patient. Not greedy."

It’s a soft skill, where how you behave is more important than what you know.

Financial success is not a hard science.

Getting money and keeping money are two different skills.Getting money requires taking risks, being optimistic, and putting yourself out there.But keeping money requires the opposite of taking risk. It requires humility, and fear that what you’ve made can be taken away from you just as fast. It requires frugality and an acceptance that at least some of what you’ve made is attributable to luck, so past success can’t be relied upon to repeat indefinitely.

Getting money is one thing. Keeping it is another.

Having a strong sense of controlling one’s life is a more dependable predictor of positive feelings of wellbeing than any of the objective conditions of life we have considered.Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time. To obtain, bit by bit, a level of independence and autonomy that comes from unspent assets that give you greater control over what you can do and when you can do it.

The Intrinsic Value Of Money

"The hardest thing about this was that I loved the work. And I wanted to work hard. But doing something you love on a schedule you can’t control can feel the same as doing something you hate."

Wealth is the nice cars not purchased. The diamonds not bought. The watches not worn, the clothes forgone and the first-class upgrade declined.Wealth is financial assets that haven’t yet been converted into the stuff you see.The only way to be wealthy is to not spend the money that you do have. It’s not just the only way to accumulate wealth; it’s the very definition of wealth.

But the truth is that wealth is what you don’t see.

The first idea—simple, but easy to overlook—is that building wealth has little to do with your income or investment returns, and lots to do with your savings rate.Personal savings and frugality—finance’s conservation and efficiency—are parts of the money equation that are more in your control and have a 100% chance of being as effective in the future as they are today.A high savings rate means having lower expenses than you otherwise could, and having lower expenses means your savings go farther than they would if you spent more.

Saving Money

Savings can be created by spending less.You can spend less if you desire less.And you will desire less if you care less about what others think of you.

Money relies more on psychology than finance.

Some takeaways that resonated with me reading this book.

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

career

Career

Morgan Housel is a partner at The Collaborative Fund. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism. He lives in Seattle with his wife and two kids.

Morgan Housel

The Psychology of Money

I built a 1600+ subscribers newsletter over the past eight months.It all started as an experiment. One morning, I got a random paid subscriber. And I decided to give it a try. But I never thought I could reach that many people in such a short time.So, how did I do it?Today, I will share how I successfully transformed my hobby into a side hustle. So, if you have a passion and want to turn it into a profit, keep reading!

How to Get From Hobby to Hustle

Side hustles have become incredibly common over the past few years.People get rich by talking about their passions and sharing their thoughts online. And <a href="https://www.linkedin.com/pulse/creator-economy-experiencing-significant-growth-becoming-ashmi-gautam-xb8dc/">the creator economy grows bigger every day </a>.Building a side hustle has become the desire of many nowadays. But it’s not that simple.

The Creator's Economy Growth

When I started, I had many doubts about what to talk about, how to do it, and where. And I changed my mind many times.But starting and failing is better than not doing anything . So, start your side hustle today. Don’t wait anymore. Or you will never be the next rising star.

Fight Your Doubts

You are reading an excerpt from <a href="https://cosmopolitanmindset.substack.com/">The Challenge</a>, a newsletter where I discuss self-improvement, goal-setting, habits, time management, and health tips and tricks.Every week, you will get the following:<ul><li class="ql-align-justify">a challenge to pursue to improve your life</li><li class="ql-align-justify">an infographic to track it.</li></ul><a href="https://cosmopolitanmindset.substack.com/subscribe">Subscribe now</a> to help me continue publishing this type of content.

The Challenge

Starting is the first step. And the sooner you do it, the better.<ul><li class="ql-align-justify">You will have more chances to fail and learn your lessons.</li><li class="ql-align-justify">And you will have more time to study your audience.</li></ul>However, you must consider a few things if you want to monetize your passion fast. Here are five activities I wish I had known about building a side hustle from a hobby.

How to Turn Your Passion into Profit

When I started The Challenge, I would have loved creating videos to discuss these topics. But I am not a native English speaker – I am not that fluent. You may be a great orator. Or you may love writing. You may want to talk without showing your face. Whatever you want to do, you must pick it from the start and stick to it. Once you build a big audience, you may experiment with different content formats. But people must recognize you for one type of content in the beginning.Also, here are a few <a href="https://www.searchenginejournal.com/content-marketing-statistics-you-should-know/507173/#:~:text=Short%2Dform%20video%20content%2C%20like,return%20on%20investment%20(ROI).&text=The%20State%20of%20Content%20Marketing,organic%20traffic%20than%20those%20without.">statistics on content marketing </a>you might want to read before picking one.

1 – You must choose your content format carefully.

Once you know what you want to do, you must understand how. And this implies two things:<ul><li class="ql-align-justify">research what people say about your hobby</li><li class="ql-align-justify">and research how people talk about it. </li></ul>Find the topics and trends other creators use.<ul><li class="ql-align-justify">The topics give you information on what people search online for a specific niche.</li><li class="ql-align-justify">The trends show which type of content works and will expose you to a bigger audience.</li></ul>

2 – You must research your hobby.

Last year, I attended a design class because I wanted to become better with infographics. However, the course focused a lot on branding. And one thing I learned is that you must have a unique value proposition (UVP) to catch the correct audience.A UVP is a short sentence that describes your product or brand. And it shows your clients your unique offer.For The Challenge, for example, the tracking infographic I share at the end of each issue is the unique value that attracts subscribers.So, what’s yours?

3 – You must find your unique value.

No matter how good you are, there are only two categories of topics you can discuss online:<ul><li class="ql-align-justify">Topics you know, and you can teach people how to do them.</li><li class="ql-align-justify">And topics you ignore, and you can show people what you discovered.</li></ul>You don’t need much more. And these two categories will give you different advantages.<ul><li class="ql-align-justify">You will build authority when you share your expertise and achievements.</li><li class="ql-align-justify">And you will connect with people who share your struggles when you show them your failures. Here, <a href="https://cosmopolitanmindset.substack.com/p/3-simple-rules-to-boost-your-storytelling">storytelling </a>helps a lot.</li></ul>

4 – You must share your expertise and ignorance.

Showing your expertise and personality is a good strategy to build a side hustle with your hobby. But there’s something that works even better and will make you succeed – <a href="https://cosmopolitanmindset.substack.com/p/the-secrets-of-charisma">networking </a>.Connections are the basics of social media marketing. And you have to promote your side hustle if you want to get anywhere.Unfortunately, I’ve discovered it too late. And now, my newsletter is bigger than my social media followers, so it’s harder to grow.But if you focus on it from the beginning, you can grow your social media presence and side hustle together.

5 - You must connect and interact with people.

Think about your best hobby – have you ever tried to build a side hustle out of it?How would that look?What would be your content?And how would you differentiate from competitors?Answer these questions to change your mindset and get from a hobby to a side hustle. But remember - if you don't try, you will never succeed.[<a href="https://cosmopolitanmindset.substack.com/p/from-hobby-to-hustle">DOWNLOAD</a> THE FREE TRACKING INFOGRAHIC]

If you loved the newsletter and want to support my work, subscribe and share <a href="https://cosmopolitanmindset.substack.com/">The Challenge</a> with your friends and families!Or, if you want to read more of my content, visit the <a href="https://www.cosmopolitanmindset.com/">Cosmopolitan Mindset</a>.<a href="https://cosmopolitanmindset.substack.com/">Subscribe now</a> to help me continue publishing this type of content.

Before you Go

Do you want to transform your hobby into a side hustle? Here are five things I wish I had known about building a side hustle and how you can do a better job.

writing

Reading & Writing

From Hobby To Hustle: How To Turn Your Passion Into Profit In 8 Months

Find 100+ Facts about Entrepreneurship - Curated from inspiring sources like Books, Podcasts & Articles - Genuine Insights from like-minded Users like You!

Honda

Make Decisions with a VC Mindset

Fallout : The Post-Apocalypse Capitalism Manifesto

19 Quotes to Lead Your Way to Success

Rich Dad, Poor Dad

Build, Don't Talk

Navigating Cyberspace in 2024: Understanding Cybersecurity and Its Types | by Cyberinfosecx | Medium

The Psychology of Money

From Hobby To Hustle: How To Turn Your Passion Into Profit In 8 Months

Importance of Cybersecurity in the A. I. World: Understanding Threats

It's time to
Read like a Pro.

Honda

Make Decisions with a VC Mindset

Fallout : The Post-Apocalypse Capitalism Manifesto

19 Quotes to Lead Your Way to Success

Rich Dad, Poor Dad

Build, Don't Talk

Navigating Cyberspace in 2024: Understanding Cybersecurity and Its Types | by Cyberinfosecx | Medium

The Psychology of Money

From Hobby To Hustle: How To Turn Your Passion Into Profit In 8 Months

Importance of Cybersecurity in the A. I. World: Understanding Threats

It's time to Read like a Pro.

It's time to
Read like a Pro.