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If you have the luxury, I'd suggest taking 6 months before venturing into something new if you go through a tumultuous time at work. (this is what I would have done in hindsight)


1-2 week(s) full detox - Somewhere beach'y' with no reception. Take a notebook and write about your thoughts, feelings, what went wrong, what questions were left unanswered, what you could do better next time and re-evaluate what you love and your values.


2-4 weeks fun - ...


1 month discovery - Get back home and organise to meet all of the most interesting people you know to start to find opportunities that interest you, spend a lot of time walking and reading in this period.


2 months planning - Choose 2-3 of those opportunities that really make you excited and begin a typical discovery process for a new business/idea. Such as speaking to customers, researching competition, finding experts in that field to learn from.


2 months lead into new thing - Decide on the thing you want to pursue and actually begin the project plan.


P.s all of my posts are first drafts, my researcher will buff them out — so make sure to write in and ask for extensions or explanations if you are interested. Also, I write the way I speak - I don't particularly care for detailed grammar etc. I don't understand peoples obsession with it.

Thanks.






One of the biggest issues I had early in my business career was my expectations of others.


I was obsessed with work and the mission so I could work upwards of 100 hours a week (I’m sure a lot of this wasn’t productive of course). However that led to plenty of staff churn even when expectations were set clearly before starting.


Due to my own burnouts (twice) and also my realisation of growing a successful team I’ve come to realise three important things.


1. If you work 100 hours a week and you want to replace yourself with another CEO* etc. how can you possibly expect them to have the same drive? You are setting yourself and this person up for guaranteed underwhelming failure.


2. Focus is how you overcome the volume issue. By having set business optimisation focusses such as a specific MRR which wills guarantee a buyout number and your customers pure metric - you are empowered to set goals and reject anything that does not align with them.


3. Patience is how you overcome the expectation anxiety. Double the time you expect anything to work as you dream it should. Plan and set expectations with caution and you will reach them sustainably. If your core team works crazy hours so that your burn rate is low (by keeping staff overheads down) and achievements are high - then when you are scaling out your forecasts they are 100% unrealistic because if you replaced yourselves you wouldn’t achieve any of the targets with the same staffing budget.


Run your business sustainably from the get-go and be extremely focussed on what matters so that you can achieve great things in a short period.


Neither you or I are smart enough or have enough capital to build the current Facebook from day one.


* side note. Yes someone somewhere else is probably building the same thing you are and for every hour you take off they might get further ahead. But it is also true that the first to market almost never wins. So if you play sustainably with long term strategies - you maybe be behind, but it might just be for your betterment.


P.s all of my posts are first drafts, my researcher will buff them out — so make sure to write in and ask for extensions or explanations if you are interested. Also, I write the way I speak - I don't particularly care for detailed grammar etc. I don't understand peoples obsession with it.

Thanks.

How much experimentation and innovation is too much?


I am not sure, I am sure that without the right strategy or funding behind you - it can ruin your business. I know first hand.


It was my goal in my last business to create global first, world class operating processes to enable startups the best chance at success possible. We created a culture that was anchored by daily commitments to improving one process, conducting one experiment and going over and above for one stakeholder.


The drive to become the most advanced and first actually took priority over a lot of our core business competencies and ended up hurting us. In the end it was difficult to sell the IP because at this time, IP is looked at mostly as some sort of voodoo magic (usually owned by the founder) and thus without acquiring the founder then there is nothing unique to acquire.


But what if innovation and data became an asset class rather than a cost?


Clearly people are taking this seriously this link is a great insight into some thought leaders in the space of Data as an asset class. If you get really keen you can download the full scope from the World Economic Forum here.

Source: Bain and Company, World Economic Forum report, https://www.weforum.org/reports/personal-data-emergence-new-asset-class


I am not smart enough to give you a detailed rundown of how Data as Asset classes could boost the value of your business.


But I know if Innovation as an Asset Class became reality - all of the experimentation and R+D that you did in your business could be cross examined against a potential buyers' experimentation and R+D and the money/time spent + some IP value allocation would be added to your valuation. Instead of what currently happens, ignored or argued over.


The people who create our future should be rewarded, rather than taken advantage of. When is the last time you heard about someone or a business who made the innovation and then was winning in their industry? Never.


I feel sorry for the guy who invented McNuggets.


P.s all of my posts are first drafts, my researcher will buff them out — so make sure to write in and ask for extensions or explanations if you are interested. Also, I write the way I speak - I don't particularly care for detailed grammar etc. I don't understand peoples obsession with it.

Thanks.