Thursday, February 11, 2021

Other People's Numbers

Not all good ideas are good business ideas. Good business ideas require the ability to control supply and demand. To create shape and form around an idea through barriers to entry. Demand is not good enough if supply is a free for all. It is easier to control things when you can reduce them to numbers. Which is why STEM areas (Science, Technology, Engineering, and Maths) typically make better business ideas. They focus on areas that are easier to box into products that can be paid for. A clear ask. A clear offer. Not everything can be boxed. Even good business ideas will be exposed to qualitative questions that cannot be reduced to numbers for comparison. You can force anything into a 1-5 ranking or a Yes/No binary. That is often useful just to force you to think about something, but then you have to avoid being seduced by the numbers. Falling in love with the illusion of control so much that you forget that numbers make better questions than answers. Especially when they are other people’s numbers, and you did not do the work yourself.



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