99 Probems
Jay Z famously said I got 99 problems but a b*tch ain’t one
To some this might be unsavoury but rest assured I interpret the term b*tch, as a term of endearment for describing a thorny person. That being said Mr Carter highlighted the daily abundance of obstacles or problems that he faces but how does he proritise or triage such problems?
One early skill any founder must master early is the art of triaging. Everyday there will so to speak “new fires” that you must attend to with limited resources. It’s all very similar to those games where your actions are all interconnected like your health, xp etc…
One way in which to master the art of triaging is to first define the set of probelms or more importantly create systems that do e.g. the DABC is ised by emergency services when they first arrive in the scene to assess for Danger, Airways, Breathing and Circulation these are all considered the vitals necessary for the life of a patient. I hear you ask what are the vitals for a startup in this example I will cover the fundamentals:
- Vison
- Domain
- Human Capital
- Desirability
- Capital
Vision
The Vison for the startup(product+team) is a huge vital for determing the success of any startup and I should also commend those who are willing to stick to their vision just as much as those who have the guts to pivot and find success in another vertical.
Domain
The “Domain” (ultimately determines the landscape alternatively the so called dangers of the startup) sets the vision which in turns determines what type of product that will be built and in doing so, this will also define the calibre of engineers needed (Human Capital).
Human Capital
Human capital can take forms in many variations for its not jsut limited to the employees it can extend all the way to your board of directors, family, univeristy etc… The preferential attachment model is great example for explainig network effects and states that larger networks generally benefit fromnew connections as these new nodes have a bias to make connections with them. This effect is noticebale all throughout nature.
Desirability
Domain and Desirability have an interesting relationship both can be observed to have a Power law distribution which is “winners take all” aka J curve distribution.
We’ve definitely marched past the cross-road signs of “product desirability” Vs “product gimmicky” K factor/Retention etc… are not measures for a products desireability as these can all be gamified.
To me desirability is achieved when users will spare no expense to get that product as if they have withdrawl symptoms without it or their normal lives can no longer function. To keep it short “Desirability” can be measured by a range of metrics by my personal favourite is word of mouth, to an extent this behaviour is lagely driven intrinsically, there is no better measure of success than having a user motivated to share your product on their own accordance.
there is no better measure of success than having a user motivated to share your product on their own accordance
Capital
Capital is the war-chest which drives startups it shouldnt be confused with the (x). Also important to remember where the capital comes from is also of importance to the amount of capital. No war in history could have been fought or won without proper funding needed for creating ammunition, paying soldiers wages etc…
As a founder it is important everyday to approach new problems triaging according to how many of the four categories mentioned above that problems occurs in, to do this a quick thought experiment it needed(it’s best advised to do this during the morning on a walk or during your shower peak times for conjuring the best thoughts).
This article has been inspired in part by this Ryan Caldbecks tweet1 I read starting off as a founder myself.
You have 100 fires to put out and only time for 3. So clarify specifically what your goals are before engaging.
tbc