Excerpt from interview with Richard."When taking the leap into entrepreneurship cover your downside risk with an income source that allows you to also create many small experiments to realize an upside of opportunity. "
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Here is our chat. Also, outline below the video to find exactly what you'd like to learn.
Intro - Richard Lo
00:01 - Intro for Richard, his story in startup to Indie route
00:04 - Launching small bets led to Bordi.io
00:05 - Identifying the problem
00:05 - Most important lesson - Validating it with a minimum valuable version.
00:08 - Getting to 100 customers and the light bulb moment
00:10 - Bootstrap wins vs startup
00:12 - no-code tech stack used
00:13 - Pain and then automate
00:15 - How to look for ideas
00:16 - What does prod dev actually look like for building a business?
00:18 - Process for building - put out what you want then iterate on feedback, how he did that
00:20 - Making the jump to be digital nomads and entrepreneurs
The pain and desire and decisions behind making this jump from quitting their jobs
00:23 - Exact mentality and decision behind taking action. Pain either way, which will you accept?
00:25 - Biggest realization - separation from startup and entrepreneurship
Arranging your life to be able to do this forever
00:26 - changing your mental model will be what you need to do first before changing your habits that lead to change in lifestyle
00:27 - covering your downside risk to make the jump and allowing you to have room to work on the big upside things
00:34 - If Richard went back in time to make the jump most important thing
00:35 - The universe opens up when you take action and do something
00:37 - You are never going to be 100% on all your assumptions - how to minimize rework
Once a week, valuable and actionable insights, no bs -- promised.