They struggled to get users, they even went as far as to offer women $20 to upload their videos but had no takers. YouTube was supposed to be a video dating app in early 2000’s. So they pivoted to becoming digital wallet.
Turns out selling security software was much harder than the idea of sending and receiving money from your friend. Instead, through testing and talking to their users they found people were more excited to talk about electronic payment processing. They had no success with that business model. PayPal was first a security software for palm handheld devices (remember those?). Instead of wanting to test, you’ll try to force it upon the world, being rigid in your approach. The more time spent, the more rigid your approach will become. This is one of the curses of a long-drawn out business plan. As long as you don’t invest too much to finding out. Truth is most of your assumptions about the marketplace will be wrong, and that’s okay. This is commonly known in the startup world as validation. If you have idea form an experiment in test it. It’s safer to adopt the scientific methods to ideas and business.
“it is not the most intellectual of the species that survives it is not the strongest that survives but the species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself.” – Charles Darwin
You don’t want to marry your ideas because it’ll make you susceptible to fail.
#My decisions decisions quotes how to#
How it’s going to do X, disrupt the industry, going to be adopted by thousands of people, and you’ve formed the perfect game-plan on how to execute. On entrepreneurial journey you may have an idea of the type of business you’re going to want to create. “Stay committed to your decisions, but stay flexible in your approach.”
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