How to Choose and Execute Winning Ideas

Hey curious mind,

Here’s today’s dose to become smarter in 5 minutes:

• The Growth Insight: How to Choose and Execute Winning Ideas

• What’s Up with Tech: Smarter AI Models, Coinbase's Crypto Bridge

• Tools to Unlock Your Peak Potential

The Growth Insight 🌱

How to Choose and Execute Winning Ideas

When you're just kicking off, volume trumps quality.

Why? Because you need to get your hands dirty, make mistakes, and learn fast.

It's all about speed and aggressiveness in the beginning. You can't perfect what you haven't started, right?

As you grow, you've gotta shift gears. That's where I learned to apply the "tight aggressive" poker strategy to my business.

It's about being picky with your projects but going all-in once you commit. Let me break it down for you.

Now, let's dive into some tactics I've picked up along the way:

Run the Numbers, Baby! Before I jump into any project now, I do a quick Expected Value (EV) calculation. It's simple: (Probability of Success x Potential Profit) - Costs. This five-minute math has saved me from so many potential flops.

Napkin Math is Your Friend I always scribble some quick estimates. How many units do I need to sell? What's a realistic success rate? Trust me, this rough math can be eye-opening.

Test the Waters, Don't Drain the Pool I've found that a $2k-$5k marketing budget is usually enough to see if there's any real interest. It's like dipping your toe in before diving headfirst.

MVP in a Month I aim to get a Minimum Viable Product out in 2-4 weeks. Any longer and I'm probably overthinking it.

Know Your Worth I factor in my hourly rate when calculating costs. As you grow, this number should go up. Don't sell yourself short!

Spy on the Competition I look at similar projects to gauge potential upside. It's not exact, but it gives me a ballpark figure to work with.

Go Big or Go Home I've learned to focus on projects with exciting potential. If the expected value doesn't get me pumped, it's probably not worth my time.

All In, Always Once I choose a project, I give it my all. No half-measures. It's full throttle until it's clear whether it's a win or a loss.

Stay Flexible, Not Fickle I'm always ready to pivot if new info suggests my project isn't viable. But I don't jump ship at the first sign of trouble.

Remember, this approach evolves as you grow. When you're starting out, it's all about taking shots and learning.

But as you gain experience, being more selective and strategic can lead to bigger wins. It's a journey, and we're all figuring it out as we go.

What’s Up with Tech🖥️

Meta's AI Farm 🐑: Meta's building a massive AI chip cluster to supercharge its next Llama model.

Smarter AI Models 🧠: Meet o1 and o1-mini, AI models that can tackle tougher science, coding, and math problems.

API Control Boost 🎛️: Anthropic introduces "Workspaces" for businesses to fine-tune their AI API usage.

Amazon's AI Investment 💰: Amazon pours $10.5B into UK AI infrastructure to beef up its cloud services.

YouTube's Music Guru 🎵: YouTube Premium members get first dibs on "Ask Music," the platform's new AI radio feature.

Coinbase's Crypto Bridge🔄 : Introducing cbBTC, Coinbase's wrapped Bitcoin for use on Ethereum and Base networks.

Tools to Unlock Your Peak Potential 🛠️

Holly AI🤖 Your AI wingman for finding and wooing top talent in recruitment.

Section* 🚀 Master AI in just 5 days with this crash course for instant workplace application.

Rainbow Weather ☔️ AI-powered weather alerts for your exact spots, because Mother Nature's moody.

Quist 🔍 Your personal AI researcher, dishing out custom reports tailored to your business cravings.