Small, Boring, Yours
Don't Overthink Your First Slow Bet
Ok, so you’re saying I need to build a business. But I have no idea where to start.
That’s normal.
Ultimately, only you will arrive at the right idea, and it will probably take a few tries. That’s part of the process.
The most important thing to understand is this: don’t overthink it. The best way to learn is by doing.
If you spend months planning the perfect idea, there’s a good chance you’ll never actually start.
Here’s how I think about Slow Bets business ideas.
DO SOMETHING YOU CARE ABOUT
I started IdeaMensch because I was genuinely obsessed with learning how successful entrepreneurs bring their ideas to life.
In the beginning, it wasn’t even a website. It was just a series of email threads I had with entrepreneurs.
At some point, one of them asked me where I was planning to publish their answers.
I hadn’t thought that far ahead.
Ideapeople.com was probably taken, so I went with IdeaMensch. Mensch being the German word for “person.” And off I went.
The number one qualification for a Slow Bet is simple: you actually have to care about it.
Can you work on this idea even if you don’t get paid right away? Is it interesting enough that you’ll keep going when it gets hard? Does it give you something beyond money? Curiosity, pride, meaning, momentum?
If the answer is no, it’s probably not a great Slow Bet.
Start there.
SMALL IDEAS THAT DON’T SCALE
Every entrepreneur, investor, and VC is hunting for big ideas that scale. That’s where the massive wins are. And if your goal is to build a company worth hundreds of millions, go for it. Just know you’ll be competing with a lot of very smart, very motivated people.
It’s tough out there.
The good news is that almost nobody is looking for ideas that might make $10,000 per month in fifteen years.
That’s where Slow Bets live.
These are ideas that unfold quietly over years and decades. They don’t look impressive at first, which is exactly why there’s so little competition. I’ve seen the same thing in real estate. Buying properties that weren’t big or exciting enough for institutional investors, but that turned out to be incredibly solid long-term bets.
Small is good. Boring is fine. Scale is optional. Save it for later.
KEEP IT SIMPLE
Over the years, many people have encouraged me to turn IdeaMensch into a podcast or a video show. That might not be a bad idea. But here’s the reality.
It would turn something that takes about five hours per week into something that takes twenty-plus hours per week. At that point, it wouldn’t be a Slow Bet anymore. Also, I have zero motivation to be more well-known.
Simplicity is what keeps Slow Bets alive.
As you evaluate ideas, ask yourself: Can I understand this fully? Can I build it myself? Can I make progress on it in my spare time?
If an idea requires a team, a complex tech stack, or a massive time commitment right out of the gate, it’s probably not a great Slow Bet.
Complexity kills momentum.
COPY GOOD IDEAS
I wasn’t the first person to do text-based interviews submitted through a web form. Before IdeaMensch, I came across a small website in Portland that highlighted local entrepreneurs. It gave me the idea.
At the time, I remember worrying that copying their process might be wrong. Or that they’d be upset if they found out.
Here’s the reality. They probably copied the idea from someone else. They never found out. They probably wouldn’t have cared. That website doesn’t exist anymore.
Most ideas aren’t original. They’re iterations. Slight variations on things that already exist.
If you see a good idea, copy it. Improve it. Adapt it to your life and your interests. Don’t let some imaginary moral hurdle stop you from starting.
AND IF YOU’RE STILL STUCK
Start with consulting. I wrote about this last week. No building. No staff. Just your computer and some time. The margins are almost pure profit. It’s not glamorous, but that’s the point. Everyone chasing venture-scale businesses isn’t looking at it. Less competition. A great first slow bet for most people.
Consulting isn’t the destination. It’s the engine. It converts skill into cash you can reinvest into whatever slow bet comes next.
IN SUMMARY
If you’re stuck on what to build, lower the bar. Pick something you care about. Favor small ideas that don’t need to scale.
Keep the structure simple enough to survive real life. And don’t be afraid to copy ideas that already work.
Slow Bets aren’t about brilliance or originality. They’re about starting, sticking with it, and letting time do the heavy lifting.
The perfect idea doesn’t come first.
Action does.