My instinct normally is to bat for a single or a double, not a home run. But we have different needs than most people. For us, owning our real estate outright and making mid 6 figures or below pretax in a HCOL area is the target. Any higher income and you spend too much time on business trips, emergencies, hiring people, HR issues, etc. Too old for that. Inflation and property taxes are running much hotter than we'd like but we assumed years ago it would happen at some point. It hasn't affected us at all on a day-to-day basis.
So when my wife and I evaluate business ideas, it never crosses our mind to assume it will be picked up by a VC and hit the front page of HN. We try to project the worst, best, and most likely scenarios. We project these same terms a few years out to understand where problems might arise.
Our businesses are always medium- to long-term plays that we can run with minimal to no staffing. We have about a 50% success rate, about 30% higher than we normally bet.
So when my wife and I evaluate business ideas, it never crosses our mind to assume it will be picked up by a VC and hit the front page of HN. We try to project the worst, best, and most likely scenarios. We project these same terms a few years out to understand where problems might arise.
Our businesses are always medium- to long-term plays that we can run with minimal to no staffing. We have about a 50% success rate, about 30% higher than we normally bet.