The power of avoiding stupidity for startups
One of the most critical challenges for startups is putting together an execution plan for success. Rather than focusing on what a shiny outcome would be, an incredibly powerful tool is to consider what a crap outcome would look like and avoiding that.
Charlie Munger, Warren Buffett’s late business partner, was often quoted saying “It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”
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