Crazy Bet

Objective

Crazy Bet

This objective is like having a startup idea. Likely, it won’t work out, but we believe it’s worth trying.

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Purpose

Diving into a Crazy Bet is a leap of faith, driven more by passion and belief than by logic or previous evidence. It mirrors the unpredictability and high stakes of pioneering a startup. The odds are stacked against us, but the belief that if it succeeds, the payoff could be transformative, fuels our pursuit.

Notes

“Crazy” is anything with a chance of succeeding between 0% to 10%.

Rules / Constraints

  • We have not (yet) defined rules or constraints.

Safe Bet
Small-Risk Bet
Medium-Risk Bet
Large-Risk Bet
Crazy Bet
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Sometimes, You *Don’t* Want Focus
Sometimes, You *Don’t* Want Focus

One exception to the idea of keeping focus is when you're working with a portfolio of options. Investors don't want focus; they want diversification to balance their portfolio.

Each Objective Is a Bet with Yourself
Each Objective Is a Bet with Yourself

Objectives are bets on future scenarios. The bet you make with yourself will likely influence your approach to achieving the objective.

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“Management by objective works—if you know the objectives. Ninety percent of the time, you don't.”

(Source: Peter Drucker)

“Eliminate numerical quotas, including Management by Objectives.”

(Source: W. Edwards Deming)