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This one contains some solid insights, mostly about doing a better job of proving demand: https://medium.com/@michalbohanes/seven-lessons-i-learned-from-the-fai
by tjradcliffe 11y ago
This one contains some solid insights, mostly about doing a better job of proving demand: https://medium.com/@michalbohanes/seven-lessons-i-learned-from-the-failure-of-my-first-startup-dinnr-c166d1cfb8b8 https://medium.com/@michalbohanes/seven-lessons-i-learned-fr...
But...
There is no business idea I cannot kill using a sufficiently cold and objective evaluation. I can show the demand is not there, that it doesn't solve a customer pain-point, that the price is too high, that the model won't work in this market, that the technology won't scale...
At the end of WWII Vannevar Bush, the head of the American military rocketry program, said that human beings would never go to the Moon because you'd have to take a rocket the size of a battleship, stand it up on end, and launch it into space, and this was obviously impossible.
Prediction is hard, especially about the future. Entreprenuership is fundamentally about courage, because you've got to jump off that ledge knowing the odds are you'll fail. If you dig too deeply or look too closely at the problem you may never start, because the risk is always going to be unacceptably high to any sane person.
So it's important for entrepreneurs to balance their optimism against reality, rather than just giving in to realism and sticking with the day job.
- intrasight 11y agoVannevar Bush foresaw many things correctly. But the rocket thing... It was only a few years later that we were lobbing those vertical battleships into space.