Building your company faster
I think people frequently make starting a company more difficult than necessary. They do this by not measuring enough data or making too many decisions based on their gut. I’ll split them into two types: those that act and those that analyze. It’s been rare how often I see these two intercept and it’s sad because the more they intercept, the better your result is going to be.
Those that act don’t like to measure – they use the excuse of limited resource to simply try out new things without understanding the market, the buyer or the broader technical challenges involved.
Those that analyze use the excuse of limited data sets to never act. They never feel comfortable with the market, what they’ve built or how people will react. They are paralyzed by inaction and that paralysis means the market passes them by even if they have a great idea.
What’s the perfect balance? I don’t know, but if you force yourself through the steps below, I bet it becomes easier to understand what you need to analyze and it becomes easier to start acting because you have a structure in place.
First, create a hypothesis.
Second, test your hypothesis and understand what you tested.
Act on your results.
Rinse and Repeat.
Sound familiar? It should. You can learn more as it relates to startups here.