Episode description
In this episode of the Startup Therapy Podcast, Ryan Rutan and Will Schroter dive into an interesting perspective: taking risks in entrepreneurship is actually a luxury, not the norm. They break down what it really costs to take risks, how to figure out your "minimum viable risk pool," and why having a financial cushion is key to surviving setbacks.
They share personal stories from their experience at Startups.com, emphasizing the importance of cutting personal and business expenses to stretch your runway and make smarter decisions. This episode is all about helping entrepreneurs understand the financial milestones they need to hit to keep their businesses afloat—and how time plays a big role in navigating risks.
This episode is packed with advice for anyone trying to manage the tricky balance of risk and reward in entrepreneurship. Tune in to learn how to take smarter risks and build a solid foundation for your business!
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Startup Therapy Podcast
https://www.startups.com/community/startup-therapy
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https://www.startups.com/begin
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https://www.linkedin.com/company/startups-co/
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Wil Schroter
https://www.linkedin.com/in/wilschroter/
Ryan Rutan
https://www.linkedin.com/in/ryan-rutan/
What to listen for:
00:15 Why Taking Risks Is a Luxury
02:08 Balancing Personal and Business Costs
03:44 Lessons from Startups.com
05:55 Why You Need a Risk Buffer
10:25 Figuring Out the Minimum Viable Risk Pool
16:51 Financial Discipline and Budgeting
19:09 The Freedom Fund Explained
26:51 How to Survive Financial Challenges