What type of Founder are you?

Are you someone who prioritizes fun or success as a founder?

1% Founder

What do you optimize for? Fun or success?

Here’s a frame of thought from Shaan Puri (Founder of My First Million, Milk Road) that he shared in an episode of My First Million that, in my opinion, couldn’t be more true.

So I’ll ask you again: when you start your next business, will you optimize for fun or success?

Emphasizing fun: Parallel entrepreneur
For many, this option is appealing because it allows you to work on multiple ideas simultaneously. Who doesn't have a bunch of ideas they'd like to explore? However, spreading your focus across multiple ideas often leads to less success.

Balancing fun & success: Serial entrepreneur
In this approach, you dedicate a few years to one idea at a time before moving on to a new idea in a different niche. While it offers a mix of fun and success, it may not be the most optimized path for achieving long-term success, as you constantly start anew in unrelated areas.

Pursuing success: Repeat entrepreneur
The most promising route for success is being a repeat entrepreneur. This entails either focusing on a single company for an extended period or starting businesses in the same niche. For instance, if you successfully built and sold a newsletter, you can leverage your experience and promptly launch another one. Though it may be less exciting due to familiarity, it significantly increases your chances of success since you possess the know-how to grow it.

Interesting way to look at it, right?

What’s your type?

What I’m reading*: The Average Joe. Making money from a business is one thing, but making money from investing is a different skill set. That’s why I read The Average Joe to get in the know to find out about what’s going on in the market. Join 100,000+ investors finding the biggest market trends

*Yes, I actually read this newsletter. And yes, it’s also an affiliate link. 

Join the conversation

or to participate.