Adam Grant has admitted that the reason he didn’t invest in Warby Parker when his students approached him about investing in their idea was because he felt they were playing it “safe”. They hadn’t quit their jobs and seemingly weren’t willing to risk everything they had to pursue their eye wear start up. Warby Parker’s most recent valuation hit 1.2 billion dollars. He made a mistake.
Is there SOME risk you have to take in a start up? Yes, of course there is. But it doesn’t necessarily mean that you have to risk putting food on your family’s table or ending up homeless. There are many stories where entrepreneurs did risk everything and that worked out quite well for them, and even stories about those who did and ended up in terrible situations, but if you are passionate about what you do, you can find a way to make ANYTHING work.
I’m not saying don’t take major risks.. But I’m also saying don’t let those “side hustle” type ideas fall astray or dwindle to “it’s never going to pay the bills”. Entrepreneurs who play it safer are also winning.