Should you have a plan B?

What's AI by Louis-François Bouchard · Beginner ·🚀 Entrepreneurship & Startups ·10mo ago

Key Takeaways

The video discusses the importance of having a plan B, C, and D as an entrepreneur, and how it can provide peace of mind and sustainability in the long term, using personal anecdotes from the creator's experience with their YouTube channel, startup, and PhD journey, highlighting tools and techniques such as diversification, risk management, and adaptability

Full Transcript

Most entrepreneurs brag about going allin. I've always done the opposite and it works. I run with plan A, but I also have plan B, plan C, and sometimes even plan D all going on in the same time. It's definitely not the most efficient way to grow plan A, but it gives me the peace of mind. Worst case, I have plan B or even C to keep going. It really makes it truly sustainable and less stressful. When I was creating my YouTube channel, what's AI? I was also doing my masters and working at a startup. So there were all three different plans in case one didn't work out. In fact, YouTube wasn't promising at all. I was just doing that for fun. But still, I was working while doing my masters just in case I didn't like the research aspect or I didn't like the industry aspect. Then I jumped into my PhD and left the startup. But I built my own with two and I kept doing YouTube focusing on my podcast. So again, three or even four different plans and all things were going quite well. Finally, I left the PhD, but I took on a recurrent contract job at EY, so I still had three different plans going on. Now, I'm much more all in into TOZI, but I still try to build my different socials just in case anything happens. Honestly, this mindset really helped me go through the lows much easier. Having three to four plans going on at the same time makes it that you have many small wins. Maybe you don't have such a big win like selling a million or billion dollar company, but it's super sustainable. I always have small wins when something is not going well. For example, my podcast failed, but we released courses with TOSI and they were super successful. Also, the PhD didn't work out and I quit, but we landed super interesting clients at TOZI. So, there's always a good side. It's definitely not as glamorous, but much more sustainable for the long term. And I definitely recommend keeping at least a plan B going on, even if you are going the startup route. It doesn't have to be two full-time jobs. The plan B can be something like 5 to 10 hours a week. And trust me, it won't make plan A crash. I'd love to know if you agree or if you usually go all in with only one plan, one job, or one project. Let me know.

Original Description

Most entrepreneurs brag about going “all in” on plan A. I’ve always done the opposite. I run with plan A… but also plan B (and usually plan C and even D). It’s definitely not the most efficient way to maximize plan A. But it gives me peace of mind: worst case, I already know what I’ll do. I was creating "What's AI" while working part-time at a startup while doing my Master's. Then, I was doing my PhD while doing a podcast (on what's AI) while building Towards AI. Then I left the PhD to focus on Towards AI... with YouTube (What's AI) and a recurring contract-based work at EY. Finally, I am now almost fully dedicated to Towards AI, but I keep building my community here and on YouTube and other socials. That mindset has carried me through tough phases. With three active plans at once, there’s always something going right. YouTube views drop, but Towards AI is releasing a book. PhD doesn't excite me anymore. I quit. But YouTube is thriving. The podcast fails, but we kick off our Towards AI Academy. Etc. Instead of waiting for one big win, I stack up small ones. Not as glamorous, maybe, but it keeps me moving forward and makes the lows so much easier to handle. It may be seen as "doing too much". But I see it as playing it "safe" and handling stress for the long run. Maybe one day I'll be fully into Towards AI (or something else) alone. But until that day, I love the diversity. 👉 Curious — do you stick to one plan, or do you keep backups too? #entrepreneur #ai #startup #short
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What is Artificial intelligence? | Artificial Intelligence terms explained for everyone 1
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The video teaches the importance of having a plan B, C, and D as an entrepreneur, and how it can provide peace of mind and sustainability in the long term, using personal anecdotes and highlighting key takeaways such as diversification, risk management, and adaptability, and why it matters for entrepreneurs to have a backup plan in case their primary plan fails

Key Takeaways
  1. Identify your primary plan (plan A)
  2. Develop a plan B, C, and D
  3. Assess and manage risks associated with each plan
  4. Diversify investments and revenue streams
  5. Prioritize tasks and allocate resources effectively
  6. Monitor and evaluate progress regularly
💡 Having multiple plans (plan B, C, and D) can provide peace of mind and sustainability in the long term, even if it's not the most efficient way to grow plan A

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