The biggest interesting tension at the early stage seems to me to be
- not lying to yourself (always a deadly thing in business)
- having conviction that there’s something in your current idea (which is terrible and thus requires lying to yourself)
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The biggest interesting tension during the mid stage seems to me to be
- focus (excellent execution comes from nothing else)
- making secondary bets (because shit happens and you don’t want everything in one basket)
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Sadly I never got to the late stage, where there seem to be more interesting capital allocation tensions. Ehhh … give me a decade.
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A version of this manifests itself in positioning.
Early stage: you've noticed enough signals to announce your positioning. You know the pains and make a promise, but can only deliver an essential portion of the potential.
Excerpt from 's The Business of Expertise.
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So true. One of the more surprising things of putting ’s Obviously Awesome to practice is how much you need to have existing customers who love you before you can execute a proper positioning exercise. Which implies early positioning is mostly a wild guess.
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The normal pitch to cut that chord is to love the problem you're solving, if not exactly the solution you've come up with
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