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Why it's all about # of iterations for startups
- eande 16y agoChris point of writing down your assumption and verify against it is really important to find your path to success. To summarize ones assumption is not that hard. I found that the real challenge is in analyzing and making the right conclusion against the assumption made.
- cyclin 16y agoFunny, once I have the assumptions written down, I've found it's pretty easy to test them. For instance, I looked into a "turbo tax for personal bankruptcy" idea, and one assumption was "people considering bankruptcy have an internet connection". That was easy to test - when I talked to my target market, I just asked them about their internet connection. Turns out that's their lifeline to the world and they would never give it up - I got the impression they'd practically starve before turning off their internet connection.
- showmebencarter 16y agogood post, re spending $1k to test out the hypothesis....the challenge for me as a first time entrepreneur has been exactly where to place that first (or only) $1k. do i get some mockup work done to show potential partners/investors how it will look? ...build some foundations of the initial code (paying someone to do that)? agreed to invest a little and test the idea, i think the challenge for me is what is the most productive first step in doing so.