The Technium: 1,000 True Fans
What would happen if you created something noteworthy and worried about scale only after you’ve figured out how to make a difference?
The Technium: 1,000 True Fans
Eventually certain of the emerging effects coalesce into clearly achievable and desirable goals–landmarks that point to a discernible path beginning to emerge from the wilderness
Seasons entrepreneurs, however, know that surprises are not deviations from the path. Instead they are the norm, the flora and fauna of the landscape, from which one learns... See more
The Technium: 1,000 True Fans
There's another more subtle lesson in the list of fields with superlinear returns: not to equate work with a job. For most of the 20th century the two were identical for nearly everyone, and as a result we've inherited a custom that equates productivity with having a job. Even now to most people the phrase "your work" means their job. But to a... See more
The Technium: 1,000 True Fans
Unlike many founders who hit on something that’s working then rush to raise funding to scale, Balsamiq has chosen to take a more measured approach- consistently growing revenue and profits year of over year. Each year Peldi takes $1M out personally, socks away 18mo of runway for a rainy day, and pays out 15% of profits to Balsamiq’s 25 employees... See more
The Technium: 1,000 True Fans
Choose work you have a natural aptitude for and a deep interest in. Develop a habit of working on your own projects; it doesn't matter what they are so long as you find them excitingly ambitious. Work as hard as you can without burning out, and this will eventually bring you to one of the frontiers of knowledge. These look smooth from a distance,... See more
The Technium: 1,000 True Fans
But I like this model of bootstrapping entrepreneurs as foragers: living off the land as hunter-gatherers until they can find a market to homestead. Bootstrappers have to start from where they are and search for opportunities. Pasteur advised that “Chance only favors the prepared mind” so you have to open yourself up to possibilities and be... See more
The Technium: 1,000 True Fans
None. I’m my own boss. I don’t have to answer to anyone. I get to learn from my own mistakes instead of being fired for making them. We have no debts and we have no deadlines. There’s no pressure to take shortcuts, or please any outside shareholders. We get to spend our time in customer interviews not in board meetings.
The Technium: 1,000 True Fans
1- Understand Threats That Affect Company’s Success
Identifying threats is the first step in the TOWS Matrix analysis . Organizations must systematically analyze external factors that pose risks or challenges to their success. This may include market disruptions, regulatory changes, competitive pressures, or technological advancements. By... See more
Identifying threats is the first step in the TOWS Matrix analysis . Organizations must systematically analyze external factors that pose risks or challenges to their success. This may include market disruptions, regulatory changes, competitive pressures, or technological advancements. By... See more
The Technium: 1,000 True Fans
Unlike SWOT, TOWS starts with external factors, and apparently starts with looking at threats first. This makes intuitive sense.
“How we spend our days is, of course, how we spend our lives. What we do with this hour and with that one, is what we are doing.” – Annie Dillard