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- FASTer - Issue #170
FASTer - Issue #170
The Illusion of Infinite Choice đ¤ˇđťâď¸đđ
In mathematics, there's a concept known as "optimal stopping theory," which provides a framework for determining the best moment to make a decision when faced with potentially infinite options, especially when you can't return to a previously discarded choice.
In the digital age, the internet creates the illusion of limitless possibilities, leading to widespread decision paralysis. This video making the rounds on the internet it self(ironic), exemplifies how overwhelming choice impacts groups on a large scale.
This phenomenon underscores a fundamental aspect of human nature: our inability to effectively comprehend or manage the infinite. The consequences of this limitation are becoming increasingly apparent.
To enhance your outcomes, know when to stop and commit.
Outcomes
A roadmap is not a strategy, and itâs a crucial distinction that every entrepreneur should understand.
In the fast-paced world of startups, it's easy to conflate the two. However, a roadmap is simply a toolâan output that visually outlines the journey. It's where you plot out your productâs development, milestones, and timeline. But without a solid strategy to back it up, a roadmap is just a collection of dates and deliverables that could easily lead your business astray.
A strong roadmap should always be anchored to a clear and well-thought-out strategy. Itâs this strategy that provides the rationale behind every decision, guiding the direction of your product and business. Itâs about making informed choices that will steer your startup toward sustainable growth.
Real strategy digs deep to answer key questions:
What are we building, and why does it matter? Understanding the 'why' behind your product ensures that you're solving real problems for your customers, not just creating something for the sake of it.
How do we plan to grow, and why is this approach the best fit? Growth strategies are not one-size-fits-all. The right approach should align with your business model, market conditions, and long-term goals.
Who is our target audience, and why are they the right fit? Identifying and understanding your target market is crucial. Knowing who you're building for ensures that your product resonates with the right people.
What risks are we willing to take, and why are they worth it? Every strategic move comes with risks. A good strategy assesses these risks, weighing them against potential rewards, and deciding which are worth taking to achieve your vision.
Entrepreneurs often fall into the trap of focusing on roadmaps as a sign of progress. But without a strong strategy, a roadmap lacks direction and purpose and does not result in meaningful outcomes. The real success comes from a roadmap thatâs a clear extension of a thoughtful, well-crafted strategyâone that anticipates challenges, seizes opportunities, and ultimately leads your startup to success.
One New Thing (That you should know)
According to a story in the July 7 Chicago Tribune, reprinted in a recent High Volume Printing, air conditioning was invented by a young engineer named Willis Haviland Carrier in 1902.
His purpose was not to increase human comfort, but to solve some problems a printer was having with paper in the summer. As Bodinus (William Bodinus, board chairman at E.H. Gustafson & Co.) tells the tale, Willis Carrier devised air conditioning one year after he went to work in upstate New York for Buffalo Forge Co., at $10 a week.
His first major assignment was figuring out how to help a printing company in Brooklyn, which was having trouble with four-color printing of a humor magazine, Judge. Between mm in the summer, the paper shrank or expanded as the humidity changed. Colored inks, applied in layers, failed to register properly. Pictures printed fuzzy.
The problem, Carrier found, was not the heat, but the humidity. Carrier assembled a device that moved air over cooled pipes, sucking out moisture much as an iced drink collects dew on the outside of a glass. On July 17, 1902, he completed drawings for the world's first scientific air conditioning system. As Carrier defined it, air conditioning had four functions: to control humidity, by increasing or decreasing moisture; to control temperature, by heating or cooling the air, to control air circulation and ventilation; and to cleanse the air, by washing or filtering. Some times we have unintended outcomes when we solve for the present. What are you solving for?
Boring Stuff That Scales
The internet can be a divisive space. But it is also a source of finding ideas that you can monetize, so long as you are willing to put in the work to make some thing happen. AKA change your outcomes by committing. I read a thread that has 200 Boring Business ideas. Perhaps you can identify some thing that works for you?
Here are 200+ business ideas that are boring and don't need venture capital.
The market exists and the models are proven.
Enjoy:
Lawn mowing / trimming / landscaping
Pest control
Firewood delivery
Residential Painting
Pressure washing / concrete cleaning
Thermal imaging â⌠x.com/i/web/status/1âŚâ Nick Huber (@sweatystartup)
3:07 PM ⢠Aug 8, 2024
What You Should Be Watching
The Bridge of Minor Miracles - Everyday Life in Kenya
The bridge crosses over a busy freeway in Kenya's capital, Nairobi. If you're looking for vegetables, a bowl of hot soup, a haircut, or even a new bed, you can find it here. But now, the bridge is to be torn down. The bridge provides a vital link between the slum district of Kangemi and more prosperous parts of the city. ARD's Nairobi bureau chief, Sabine Bohland, first reported in 2015 on the thriving commerce that takes place on the bridge. She interviewed three people: Mogaka, who makes and sells soup; Jacky, who sells vegetables; and Saidi, a student. All three talked about their dreams for the future. Five years later, Bohland returned to the bridge to find out how these people are coping with the coronavirus pandemic, and whether they've made their dreams come true. Before you set out to complain, this documentary is a good reset to understand how micro commerce impacts society and how you can identify moments of micro commerce to enhance your outcomes.
Monetize your time
I came across this list of 99 painful ideas worth solving. If you want to get a head start on monetizing your time and enhancing your outcomes, this list is worth exploring.
he solved an incredibly painful problem and made millions.
99 more painful ideas worth solving:
â Pat Walls (@thepatwalls)
9:41 PM ⢠Aug 6, 2024
One Last Thing
Read More Books
Read 30For30 Challenge: Create a group that keeps you accountable to read 30 minutes a day for 30 days. The only person who can enhance your outcomes is you, but others can help and you can help them too. Instead of doom scrolling and spending your time on activities and habits that donât scale surround your self with people who have a shared vision to do better.
Bonus! Thought of the week
Being busy is all the rage. But it should not be. Your outcomes arenât positive because you are busy, they are positive because your are productive.
The most powerful productivity hack: Do fewer things, for longer.