31–40 of 53 posts
Business plans and financial models are useless, yet they are not. They force the entrepreneur to put some level of deep thought into the entire endeavor and create some sort of initial hypothesis. Even if it proves to be entirely incorrect in future, it provides a very good starting point, that you can keep iterating upon as you learn more. Most of the times you don't know what you don't know and the business plans…
Earlier quoted context omitted.
Thanks for your comment. > lay out. I've been told that in this thread. I'll try to improve. Thank you for letting me know. > Not accurate accurate True. But it would be overkill to use complex equations for 1 dimensional motion. The degree of error is negligible in that context. > markets tend to be lenient of initial conditions post PMF That's a very fascinating point, you bring up. But I'm not sure how one can sep…
> That's a very fascinating point, you bring up. But I'm not sure how one can separate initial conditions from PMF. PMF takes initial market conditions into account by definition. At least, if we're going by Don Valentine or Andy Rachleff's definition. I don't agree. Initial conditions are minutiae that, on the surface, don't seem to matter -- hence the canonical example of a butterfly flapping its wings cascading in…
It's too easy, connecting the dots looking back. I believe we have to be careful with hindsight bias.
> In fact, worrying about your domain name, and what your LLC is going to be called, and what you logo should look like are all rookie mistakes when founding a business.
I agree. But that's not my point. My point was, avoid trying to think your way to PMF, it's too complex. Just try a bunch of stuff and iterate based on real world feedback.
Business plans and financial models are useless, yet they are not. They force the entrepreneur to put some level of deep thought into the entire endeavor and create some sort of initial hypothesis. Even if it proves to be entirely incorrect in future, it provides a very good starting point, that you can keep iterating upon as you learn more. Most of the times you don't know what you don't know and the business plans…
Someone summarized that as "Plans are worthless, but planning is essential" :)
Business plans and financial models are useless, yet they are not. They force the entrepreneur to put some level of deep thought into the entire endeavor and create some sort of initial hypothesis. Even if it proves to be entirely incorrect in future, it provides a very good starting point, that you can keep iterating upon as you learn more. Most of the times you don't know what you don't know and the business plans…
Someone summarized that as "Plans are worthless, but planning is essential" :)
Has anyone discovered a way to bring the content into a form that is halfway bearable to read? Neither zoom nor reader mode of Firefox helps. Edit: before you spend time trying this: it does not have a proper printing stylesheet either.
Author here. Could you let me know what's wrong so I can fix it. It looks solid on my end unfortunately.
Paragraph 1: Topic paragraph, introduce topic and question.
Paragraph 2: Summarize argument.
Paragraphs 3-n: Topic/assertion sentence. Support assertion/argument. Last sentence may summarize support. These paragraphs should follow the overall structure but sometimes you will need more than one paragraph to support something you suggested in the second paragraph.
Paragraph n+1: Review conclusion and some salient corollaries.
Paragraphs n+m: Discussion of implications of conclusion.
I read through paragraph after paragraph and I have no idea what your argument was, where it was going. If you have lots of single-sentence paragraphs, you're probably frustrating and confusing your reader.
> To validate your hypotheses as quickly as possible with as little money as possible and the try and create experiments with asymmetrical risk. > Because the world is so complex, you’ll often have an answer faster by just building some prototype of the hypothesis you want to test. > If it catches on, you can always scale later. I think one of the coolest real-world examples of this in practice is how Facebook runs t…
If their approach worked, Facebook would actually be good.
You may think it should better the world by challenging obtuse viewpoints and spreading truth but that s asking a lot for a marketing platform. You wouldnt ask that of JCDecaux panels on your bus stop, right?
It is difficult to believe that a business plan is useless. It provides a framework for evaluating a business and its progress. If the plan is wrong, an underlying assumption is incorrect.
They all show hockey-stick growth up and to the right. Not many businesses succeed by that measure. And the goal of a lot of business plans is not to plan a business, but to plan to get funding. Big difference.
And a lot of businesses pivot after realizing they were totally wrong.
> If the plan is wrong, an underlying assumption is incorrect.
Incorrect, or made up. Nobody has perfect information beforehand.
Both Juicero and WeWork were known to be business failures from the earliest days, by people who didn't even have to read any financial reports.
Has anyone discovered a way to bring the content into a form that is halfway bearable to read? Neither zoom nor reader mode of Firefox helps. Edit: before you spend time trying this: it does not have a proper printing stylesheet either.
Author here. Could you let me know what's wrong so I can fix it. It looks solid on my end unfortunately.
https://i.imgur.com/mAP7Uqe.png
Edit: judging by the CSS, it seems actually intended. It just does not work well with my screen or reading habits then.
(For what it's worth, here is what would work better for me. Headlines reduced to 3vm fontsize, paragraph margin-bottom to 0.4em to see more content at once. Continuously having to scroll interrupts reading quite heavily for me. The changes look like this:
https://i.imgur.com/8JBo91t.png
Our mileages may vary ;)
Please consider trying this: Paragraph 1: Topic paragraph, introduce topic and question. Paragraph 2: Summarize argument. Paragraphs 3-n: Topic/assertion sentence. Support assertion/argument. Last sentence may summarize support. These paragraphs should follow the overall structure but sometimes you will need more than one paragraph to support something you suggested in the second paragraph. Paragraph n+1: Review conc…
Check out this exchange: https://www.reddit.com/r/juststart/comments/jl02ba/useless_i...
