MBA2563 Why Starting Small is the Smartest Move You’ll Ever Make
The $100 MBA Show
Omar Zenhom
4.8 • 2.2K Ratings
🗓️ 23 December 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Ever feel like you need to go big or go home to make it in business? Think starting small won’t get you anywhere? Let’s dig into why kicking things off with baby steps might actually be your best bet for long-term success. In today’s lesson, Omar explores the advantages of starting small and how it […]
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Transcript
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| 0:00.0 | The Gambling Site FanDuel just sold for $559 million. |
| 0:12.1 | Sounds like a success story, right? |
| 0:13.8 | Wrong. |
| 0:14.8 | The founders and the employees walked away from the sale with nothing. |
| 0:19.4 | Yep, a big donut. |
| 0:22.8 | How? Well, long story short, they raised $416 million at a $1.3 billion valuation, all because they wanted to grow as fast |
| 0:29.3 | as possible. This is a cautionary tale because they ended up selling and getting nothing for it. |
| 0:36.2 | All the time and energy wasted. You don't want |
| 0:39.3 | that to be you. And that's why today's topic is why starting small is the smartest move |
| 0:44.6 | you'll ever make. Too many entrepreneurs think they have to go big or go home. But the truth is |
| 0:49.6 | starting small gives you the flexibility, the focus, and the foundation to help build you something |
| 0:55.6 | that will last. |
| 0:57.2 | Let me show you why this approach is not just smart, but essential for the survival of your |
| 1:02.6 | business. |
| 1:03.7 | Did you know that 70% of startups fail because they scale too quickly? |
| 1:08.0 | That's according to CB Insights. |
| 1:10.2 | Tremort scaling is one of the top reasons why businesses fold. |
| 1:14.6 | Starting small isn't just safe, it's smart, and it's how you can set yourself up for long-term |
| 1:19.6 | success. I always borrow this line from Jason Freed that says, I don't want to create a startup, |
| 1:24.1 | I want to create a stay-up. So today I'm going to show you how small |
| 1:28.2 | beginnings can lead to big wins. And I'm living proof. I started a software company called |
| 1:33.5 | Wobiner Ninja with my partner, Nicole. We started this company self-funded, no outside equity |
... |
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