Mementum

I have a rule: if the toilet seat is up, the phone remains in my pocket. I adhere to this with dogmatic loyalty.

The upside of checking that email or having fun scrolling to nothing in particular is just too small, and the downside far too great. Sure, the likelihood of catastrophe is small, but what if.

Is seeing that email 10 seconds sooner worth dunking your device?

It’s a high risk maneuver whose possible ROI is minuscule. There are other examples, like throwing that pillow to your buddy when his glass hookah is lit (Just walk it over, friend.)… or dropping all your dimes on some mildly useful idea that just might work, hoping it becomes the next big consumer web app.

On the other hand, there are low risk moves with huge possible returns. Talking to that girl next to you. Building a web app in a defined, existing market that HARK! you could charge someone $5 every month to continue using.

These low risk high return moves get far less publicity. They aren’t sexy.

But I bet if you spent your life on them, you’d come out much more successful.

We believe in the simple, not the complex. We believe that we need to own and control the primary technologies behind the products we make, and participate only in markets where we can make a significant contribution. (Tim Cook @ Daring Fireball)

Emphasis mine. Apple doesn’t go into a market hoping to be “one of the players.” They go into it specifically to seriously kick everybody’s ass.

There is a mind shift when you choose to only select and tackle markets this way. You have to choose your targets more carefully and focus your energy and resources more intently.

I don’t think this is necessary for the entrepreneur just finding her feet (just get revenue!), but it certainly affects how she might think about expanding.