We had the good fortune of connecting with David Grubbs and we’ve shared our conversation below.
Hi David, how do you think about risk?
I have learned over time that risk can and should be approached in a much more calculated and methodical way. Owning a business is inherently risky enough. Finding ways to lower risk and arrive at confident data driven decisions is important to the long-term survival of the business. The “just go for it” mentality is a gamble that only works in rare circumstances and you only have so many of those before your luck runs out. I prefer an approach that generates the same results without the wild west mentality. In our business, when approach with making decisions that seem risky, we break down any assumptions leading to a decision and then go test those assumptions on a small scale in the real world to collect results and validate those assumptions before any large investment is made. For example, when having to make decisions around which marketing channels or campaigns we pursue and invest our marketing dollars in, we run extensive A/B and multivariant split testing campaigns across those channels and campaigns to validate results and find winning “bets” before scaling up our investment, thus reducing the size and impact of any “risky” decision. The same approach is applied to most areas of our business including product/service pricing decisions, product dev, hiring contractors and more. Any decision without strong data backed confidence is broken down into small scale tests which provide the missing data required to make confident decisions. For us, risk assessment is simply the first step in determining a testing plan to arrive at a confident decision. What may look like taking risks from the outside, is a methodical data-driven approach from within.
What should our readers know about your business?
I have started over a dozen companies in my career. Some of the most successful were the ones I was least passionate about and least fulfilling. It was hard leaving those industries but I am so thankful that I did. Today, I am co-founder of BossClub.com which we started to teach an entrepreneurial mindset to the world. Our goal is to develop future generations fortified in the grit, tenacity, adaptability, creativity, and confidence to not only take on but to flourish in the worlds changing environment. We do that by providing elementary age kids with business kits that include everything they need to launch their first business in a weekend and for middle school and high school age kids through our entrepreneurship elective class curriculum which is being taught in schools across the country. Even if our students choose not to become entrepreneurs long term, the skills and principles will be invaluable no matter what career they choose and where their life takes them. For me, that mission is worth spending the rest of my life pursuing and one which I hope will leave a generational impact.
If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
I am currently living in Costa Rica and managing my business based in Dallas remotely with my co-founder. For a visit to Costa Rica, I would recommend sending a couple of days in the San Jose valley exploring the culture of downotwn San Jose, the surrounding volcanoes and tasting some of the worlds best coffee on plantations scattered across the mountainsides. Next stop would be Arenal with natural hot springs and thermals and the Monte Verde cloud forest. Then wrap up the trip with time spent at the beaches stretching from Playa Hermosa down to Maneul Antonio national park.
Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?
A huge thanks to my parents who have been life-long supporters of my passions and my work. Without their encouragement through tough days, living the life of an entrepreneur would have been daunting.
Website: www.bossclub.com
Instagram: https://www.instagram.com/bossclubco/
Linkedin: https://www.linkedin.com/in/dgrubbs/
Facebook: https://www.facebook.com/bossclubco