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Missing Data

It’s often observed in the┬ástartup world that newcomers take a pacifying approach to judge their ideas. They destroy the realistic market conditions with their slick hockey stick graphs, they just know millions of previously undiscovered customers waiting to be saved, to top it off an imaginary line of investors struggling to make their ends meet.

Well, there is nothing to stop all of that when at the end of the day, ignorance is bliss. But, the problem is when some practice that magical spell over and over again, with a sense that it’s only a matter of time before their dreams become reality because they are dreaming.

Let’s dig it with an example to humor you, Jack wants to celebrate his daughter’s birthday party and is in search of caterers. He googles it and he doesn’t find anything satisfactory. He goes here and there, finally finds one, and gets done with the party. But the itch has already taken its root, it’s only a matter of time before it takes over the host. Entrepreneurship is a dream and Jack has it. His struggle to find caterers for the party already convinced him that the problem is there and it’s real and it’s thriving, he needs to curb it. 
He goes out there, gives it another try, he sees everything he wants to see. He reads everything he wants to hear. Voila, there’s a startup idea and there is no competition either.

The research and expertise he gained during his small voyage are not enough to assess the market or predict the future. For many like Jack, they get one shot to crack at it. Most of the lessons out there capture only 10% of the iceberg. Entrepreneurship is beautiful and tough. But, it’s not impossible. If 70% of startups fail (Jack read that 90% fail), it’s not because its a norm. It’s not a fact that they should fail. 

One of the most important questions you need to ask before arriving to a conclusion: “what’s missing”. You might have collected as much data as you want, but where is the missing data. In Jack’s case, one aspect he should be pursuing is – “Didn’t anyone try this idea before? Are those startups already dead? Why did they die? Where is the missing data?”

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Small Posts

Outcome vs Process

Everyone wants their outcome to be “Perfect”.

How does one go about it?

Well, Look at the output and criticize it, iterate it. Miss the root cause and chase a ghost inside your head. Often underestimate problems and overestimate people. If someone has to define a quintessential lifestyle, most of the time, it would be outcome-driven. React to the Outcome, because one doesn’t understand their thought process.

What’s the alternative?

Try to perfect the process. 

First, define a process, apply it to a simple task. 

If the output is not favorable (time & quality), iterate the process. 

Iterate it till 8/10 times the output is favorable, and then scale it – Now take up more tasks. 

You and your team should trust the process and, along the way, make small amends.

Executing something is an art more than a science. Understanding what works and produces favourable outcomes, takes effort. Iterating output usually has no baseline; it can be extreme, leading to constant under-kills, over-kills, finally settling for something mediocre.

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Small Posts

The Bad Experience Privilege

John says to Mark: “You had a good life, you have no idea what I went through, so, I don’t expect you to understand. I have had some awful experiences.”

Mark shuts up, End of Story.

Bad happens for a whole lot of reasons. When someone is selfish, the outcome is bad. When someone does nothing instead of something, bad happens. But, Good – It takes a lot of perseverance, consistency, and sacrifice.

We encourage people to share bad experiences more than their good experiences. It’s not enough to know “what not to do”; we also need to know “what to do.”

Do you think someone has had a good life? Ask them, what did their parents do, how were their friends, get curious. Don’t just dismiss them as ineligible to understand your life.

This world needs to hear good stories too, now more than ever.