The Technium: 1,000 True Fans
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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
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, b... See more
The Technium: 1,000 True Fans
The TOWS Matrix, developed by Heinz Weihrich in 1999, is a strategic planning tool that combines internal and external factors to generate strategic options. This approach was then popularized by Albert Humphrey, a consultant at the Stanford Research Institute. It stands for Threats, Opportunities, Weaknesses, and Strengths, forming a matrix that g... See more
The Technium: 1,000 True Fans
It's an intimidating prospect to enter a field where a few big winners outperform everyone else. Some people do this deliberately, but you don't need to. If you have sufficient natural ability and you follow your curiosity sufficiently far, you'll end up in one. Your curiosity won't let you be interested in boring questions, and interesting questio... See more
The Technium: 1,000 True Fans
All entrepreneurs begin with three categories of means
- 1. Who they are–their traits, tastes,and abilities;
- 2. What they know–their education, training, expertise, and experience
- 3. Whom they know–their social and professional networks.
Saras Sarasvathy in “What Makes Entrepreneurs Entrepreneurial.“
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 understan... 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 understan... 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.
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
the TOWS Matrix offers four distinct strategic approaches that companies can adopt to align internal strengths and weaknesses with external opportunities and threats. Here’s a breakdown of each strategy:
- * SO: How can you use your strengths to take full advantage of market opportunities?
- * ST: How can you use your strengths to deal with market threat
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?