How do you manage the risk?

This post was inspired by Pieter levels thread about the risk of work on your own business.

My question is how do you deal with the risk?

Personal I've found few different things. In no particular order.

• Tim Ferris idea of picking project which even if they would fail would give you benefits - learn something, get to know interesting people...
• having a side job
• living frugally
• really working hard while you can
• building few different projects, test viability and if you find out, really double down on it
• have savings for 6+ months
• investing
• constantly learning especially transferable skills (time management, soft skills, project management...)
• don't do it alone, have a cofounder helps when there is personal emergency