2 ms·
Great post. This reminds me of Tim Ferriss' description of identifying good business ideas and / or approaches to learning new things (like languages). Three
by quickpost 12y ago
Great post. This reminds me of Tim Ferriss' description of identifying good business ideas and / or approaches to learning new things (like languages). Three simple questions (which I've defined in terms of business, but they are broadly applicable):
1. Effective - will the business actually make money?
2. Adherence - is it a business you can stick with and commit to over the long haul?
3. Efficiency - will the business make you money in a way that uses time efficiently.
Listed in priority order. Great way of evaluating potential business ideas for me. #2 is particularly useful as a filter, as there are LOTS of ways to make money, but a much more limited set of ideas that you actually want to do long term.