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Day 2: The top 3 topics I am learning very quickly as a founder
There are 3 topics I feel like I am learning very quickly and harshly as a company founder:
Topic #1: DECISION-MAKING
Arhh.
Where do I start when it comes to decision-making.
I used to love being at university.
I didn’t have to really make a decision but now I am a founder, I have a company, and I have to make decisions.
We all make countless decisions every day.
But most people never think about how they make those decisions.
I have learnt 3 key steps when you are having to make a decision:
A. Define what the problem is
B. Gather as much information about the problem as possible
C. Think about the probabilities
Then you can either go with an informed or gut feel decision.
Topic #2: AUDIENCE-FIRST-BUSINESS
As a market researcher, I understand the importance of being ‘audience first’ but until you actually have bills to pay, other people for you, it is often brushed under the carpet and not thought about.
This is why I often go back to this tweet for inspiration:
https://twitter.com/Jake_pryszla...
Topic #3: HAVING A LIFE!
Sounds harsh but, Survey101 is currently a side hustle that I put maximum effort into after my day to day job.
I’ve learnt the harsh truth about: Burning out.
I’ve got burnt out.
But wait.
Do you have to work hour after hour doing your day to day work and then your side hustle?
I’ve actually learnt, to get success, you don’t.
Many people will disagree, and say, those who put in the work, will succeed.
When actually, quality and consistent work, wins the challenge.
Do you agree or disagree?
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Yassin Bouacherine
In the end, what matters is what you got to offer, and if it can respond to a crucial need from enough people to support it. You are really nailing it when it comes to really making a difference between the principle of "put in the work" and quality & consistency.
Even though I think people may actually refer to "put in the work" that is only qualitative. But it's important to pinpoint that it has to be some exceptional work being given to the public. What would be the point, if not?
It got to be something you would want for yourself and would gladly put out your credit card into the product.
For "audience first business", in my personal experience, it's quite tricky. You gotta be good at what you are first, then lean more toward the audience "when you actually got one". The question is how do you get an audience from? Based on what content are you able to engage an audience?
There is actually a minimum to be done before being seen as the right person to be taking charge of this demand. It's more of a back-and-forth process, first from the maker and second from the audience.
Then it all depends if you got the qualities to iterate the initial concept to the audience's needs.
Best of luck to your company! ;D
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Some great thoughts @jack95, when do you think a company should create their core values?
Is this something you should create very early on and then adapt?
My humble 2 cents: rarely does anything great get built without you putting everything you have into it. But putting everything you have into it isn't the biggest determinant of success. I often have to keep my own action bias in check: sometimes, it really is better doing nothing than assuming some reaction (anything at all) is the more optimal path.
Regarding pt #2, the framework (admittedly quite simple) I try to remind myself of constantly is the following:
1) What is the problem that people have that I think I've identified?
2) How big is the problem? Is it something where there's evidence that people have already tried to rig their own DIY solutions for it?
3) Are there companies already trying to address the problem?
4) How much better is your solution than theirs? 20% better or 10x better?
Interesting discussion topic though, thanks for bringing it up :)
Here is a good site https://laba.ua/lecture?utm_sour...- ai5fSxXXDKqAuMnkfpiKmIC4bdxWzAo4DfFKdG_zRoC -mcQAvD_BwE look.