The following insight adopted from Jim Collins’s book Great by Choice shows why taking small bets is the preferred approach to achieve long term success by building on the small bets and taking a big bang approach after the small bets succeed. This is a proven methodology based on research done by Jim Collins for all 10X companies led by 10X leaders.
Fire Bullets, Then Cannonballs: A bullet is an empirical test aimed at learning what works and that meets three criteria: a bullet must be low cost, low risk, and low distraction.10Xers use bullets to empirically validate what will actually work. Based on those empirical validation, they then concentrate their resources to fire a cannonball, enabling large returns from concentrated bets.
Adopted from Jim Collins’s book Great by Choice
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