The first rule…
I spoke to a friend a few months ago, and we were chatting about some fun business ideas. I was excited to get started, he wasn’t. I probed a bit, and he admitted that recently he’d been burnt too many times. He threw all his eggs in one basket, and it didn’t work out.
This is incredibly demotivating. I’ve been on both sides of this. I’ve flaked, and I’ve had others flake on me. A side project by nature, does not usually get our full time and attention.
Another obstacle is simply talking too much. We all want to feel important, or get attention, or get validation from others. The truth is, no one cares. You’re not special. By the time we’ve told all our friends, we’ve stopped working. We’ve stopped doing.
So, hedge. Diversify. Work on a number of different things at once. Have lots of pots on the stove. Work with different people, who don’t know each other. Who come from different backgrounds, and who are chasing different goals. Inevitably, projects will fail. But it doesn’t matter, because you’ve created a system. And you’ve increased your chances of finding some success.
And also, shut up!