Thread by @mehtasanjay

Practice Misfortune – Ask “What Could Go Wrong?”

Startup founders should be prepared mentally for bad stuff to happen.

It is an exercise to imagine that the shit will hit the fan so eventually when the shit hit the fan how to remain cool.

#startup #pitch #vcs

If the site gets hacked
If the next funding round is delayed
If co-founders split happens
If there is hostile offer to merge
If you don’t meet the sales targets
If you run out of cash
If you have to fire a team member
If IP gets stolen
If landlord send you eviction notice

Insurance (Negative) Visualisation - Premeditation of adversity. Think of it as foresight. Before something happens, you ask ‘What could go wrong?’ ‘What obstacle could pop up?’ ‘Where could I face difficulties?’

Insurance (Negative) thinking is not about constantly being worried, get overwhelmed or be paranoid. Founders mind needs to be trained to accept unpleasant thoughts to build resilience.

Visualizing an objective misfortune does not mean to worry about it. It is an intellectual exercise and it’s well possible to engage in the exercise without being affected by it emotionally.

Insurance thinking does not make you pessimistic, but rather optimistic as you appreciate the thing you have.

100X.VC - Mentoring Unlimited

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