Effectuation$^1$ is a methodology for all steps of the startup process, but especially the early stages. Some of the key elements of effectuation include:
Instead of coming up with ideas for businesses and then going about finding the things that you needed to make those businesses happen, what if you started from what you already have? Skillsets, resources, networks, and knowledge-bases all exist in your life already. By leveraging the things readily available to you, you make your venture less risky, less expensive, and more attainable.
<aside> 🔥 The best effectual thinkers know that "their means" can be seriously expanded simply by asking for things. If you think you might be able to get something at a discount or for free, do it. That's one more asset for you to work with, and getting a 'no' doesn't hurt.
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We often think of entrepreneurs as being risk-takers, but many entrepreneurs don't consider themselves to be gamblers. This disconnect is due to entrepreneurs taking calculated risks$^2$. This has a lot to do with your personal situation, money-wise and reputation-wise. Good entrepreneurs understand what they're able to safely bet on the success of their venture, and don't bet more than that.
This is similar to understanding your means and ideating towards your existing strengths$^3$. The stronger your partnerships, the more resources you have to leverage, the more people invested in your success, the more avenues for diversifying risk, and the greater your odds of success. Good entrepreneurs look for partners in lots of different parts of a venture, using those partners' particular interests and resources to strengthen the venture overall.
If you want to read more about effectuation, there's a lot to read. If you're ready to keep moving on, we're about to step out of Vision and into Validation.