Chapter
Taking Risks and Cutting Your Losses
40:24 - 49:01 (08:36)
In this excerpt, Bill Daniels discusses the importance of taking risks and not being afraid to try crazy things in business. He also emphasizes the need to cut your losses and move on when faced with failures, and to approach life from a positive perspective.
Clips
The success of any undertaking, from choosing a movie to investing in a business, relies on having a clear mission statement that guides your decisions.
40:24 - 42:15 (01:51)
Summary
The success of any undertaking, from choosing a movie to investing in a business, relies on having a clear mission statement that guides your decisions. ESPN's mission statement, consisting of just six words, drives the company to serve sports fans anytime, anywhere.
ChapterTaking Risks and Cutting Your Losses
Episode#258: From Long-Shot to $50 Billion Empire - Bill Rasmussen
PodcastThe Tim Ferriss Show
The key to cutting your losses in life is to approach it positively, knowing that some things just won't work out.
42:16 - 45:06 (02:50)
Summary
The key to cutting your losses in life is to approach it positively, knowing that some things just won't work out. Setting thresholds and knowing when to take your medicine can help you move forward and focus on new opportunities.
ChapterTaking Risks and Cutting Your Losses
Episode#258: From Long-Shot to $50 Billion Empire - Bill Rasmussen
PodcastThe Tim Ferriss Show
Ted Turner and an associate took a bold step in reaching out to the 10 largest cable systems in 1979 to pitch their idea for a 24-hour sports network.
45:06 - 49:01 (03:54)
Summary
Ted Turner and an associate took a bold step in reaching out to the 10 largest cable systems in 1979 to pitch their idea for a 24-hour sports network. The idea worked and eventually became the largest cable provider. It's important to not be afraid to try crazy things and take bold steps outside your comfort zone.