Embracing Uncertainty in Entrepreneurship Pedagogy

Embracing Uncertainty in Entrepreneurship Pedagogy | Reaction Wheel

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buzzwords of the moment call for building a “lean startup” that can “adapt” and “evolve” to an ever-changing environment. Would-be entrepreneurs are told that nothing can be known in advance: we’re supposed to listen to what customers say they want, make nothing more than a “minimum viable product,” and iterate our way to success. But leanness is a

Peter Thiel • Zero to One: Notes on Start Ups, or How to Build the Future

In Productive Uncertainty , Jerry Neumann wrote that “the only moat that can create excess value for a new startup is uncertainty” because “uncertainty keeps competition at bay long enough for a moat to be built.”

notboring.co • When to Dig a Moat

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The more static and predictable the world is, the less narrative matters. Historically most businesses followed clear precedents and fit neatly into paths. If starting a restaurant, the potential range of revenue and costs is known. There are few surprises, so it’s easier to look at the current state of the business and know what it will look like ... See more

kwokchain.com • Narrative Distillation - Kwokchain

sari added

Embrace ambiguity. Anomalies usually don’t point to obvious actions. They fall into gaps that are not well explained by current models, and the data supporting them may not be clear-cut. Established businesses often have difficulty embracing this kind of ambiguity, as is demonstrated by the adage “What gets measured gets managed.”

But ambiguity crea... See more

hbr.org

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The paradox of teaching entrepreneurship is that such a formula necessarily cannot exist; because every innovation is new and unique, no authority can prescribe in concrete terms how to be innovative. Indeed, the single most powerful pattern I have noticed is that successful people find value in unexpected places, and they do this by thinking about... See more

Peter Thiel, Blake Masters • Zero to One

The individual’s ability to cope with uncertainty

Organizations are created, powered, and led by people. To lead organizations well, we train people in disciplines such as marketing, finance, and leadership. But uncertainty presents a special challenge since few of us have received training in how to deal with it. As a result, although we may call ... See more

Nathan Furr • Strategy in an Age of Uncertainty

Indy Neogy and added

If you can’t solve for the hardest part, the part with the most uncertainty, there’s no point in doing anything else.

review.firstround.com • Grit or Quit? Advice for Tackling Tough Startup Decisions

Matt O'Donnell and added

But the philosophy professors and the Gladwells of the world are set in their ways, to say nothing of our politicians. It’s extremely hard to make changes in those crowded fields, even with brains and good intentions. A startup is the largest endeavor over which you can have definite mastery. You can have agency not just over your own life, but ove