## Initial Assessment (Quick Yes/No):
- [ ] Does it target an ambitious yet achievable goal within a stochastic environment?
- [ ] Is it driven by intrinsic motivation, aligned with personal interests and natural working style?
- [ ] Does it have proof of demand in the market?
- [ ] Can I handle the building, marketing and operational aspects independently?
- [ ] Will a failure not risk my overall business or personal solvency?
- [ ] Does the bet allow for a downside-first approach to mitigate risks?
- This is mostly about having a prepper mindset to visualise and remove any risks that might prevent you from taking decisions or actions related to the bet
- [ ] Can the project be developed and tested concurrently with other projects?
- [ ] Can it achieve a small win to validate the concept?
- [ ] Are the odds of success favourable relative to the ease of wins?
## Execution Considerations:
- [ ] Have I developed strategies for gaining attention and building credibility?
- [ ] Am I effectively leveraging assets such as skills, connections, and reputation?
- Temporary restrictions: no hardware, physical products or 3D printed ones, no cofounders, no consumer products
- [ ] Is it something I have an unfair advantage in?
- [ ] Does this bet contribute towards improving or maintaining my desired lifestyle?
- [ ] Have I set precise time and energy budgets to prevent over-commitment?
- [ ] Are there clear cases when I should extend my commitment and when I should stop early?
- [ ] Can the project be optimised using the Pareto Principle for efficient outcomes?
- [ ] Is there a clear potential for monetisation with sensible and sustainable pricing strategies?
- [ ] Is the chance of payoff reasonable, given the effort and resources required?
- [ ] Will it avoid entangling me in long-term commitments that limit flexibility?
- [ ] Have I considered the unpredictable nature of human behaviour in the business model?
> Remember, each checkbox should be contemplated, as a 'No' could indicate a need for reevaluation or adjustment of the project idea to ensure alignment with the principles of Small Bets.