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Journal

Make Little Bets

Little bets, testing, trial and error
Make Little Bets
#jkltip Thing of 5 things you “want to do”. For example, trading stocks, photography, coaching, painting and baking. Now find just a small, low commitment, no cost way of trying them all out, as soon as possible. Making little bets will help you balance not knowing what you want to do, and also not wasting time

We often think of new projects, additional hobbies, or new business ideas as huge commitments. When we feel that things are kind of a big deal, however, we give too much credit and concern to the ideas themselves and not the action. 

This happens because we have a self critical little guy on the shoulder who likes to bring up all of the reasons why “it” or “we” may not be ready yet. This little guy likes to bring up excuses, or potential negative outcomes, until all of a sudden we are so exhausted that nothing happens. 

The best way to avoid this line of thinking, is by making as many little bets as possible. 

Flick that little dude off your shoulder, instead start with small, almost taste test like commitments. In fact that’s a good way to think of it, like when you go to an ice cream counter and they give you sample spoons to figure out which one you like before making a commitment to the large waffle cone. 

We can make little bets to test ideas within a business, for example hire a few short term contracts, or perhaps create a few hoodies and ask for feedback as to which your brand loyal customers like most.

We can make little bets to see what hobby we should pursue. We may be thinking there are a number of things we would like to do, so rather than sit around we should try each one for two days, and then repeat. Over time, probably quite quickly, our little bets will yield insight as to what we really would love to do. 

Simply put, non judgemental, trying things out, one by one, as soon as possible speeds up our research, makes it more intrinsic and leads to real, solid decisions. 

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