Analysis + execution + capital = success
2023 was quite a year. I am appreciative of the lessons learnt and journey experienced. A new high, a new low. I learnt a lot during this entire year, and I’m excited to take these lessons with me as I embark towards the next phases of the empire I’m building.
Success
Success is actually really easy. When you can describe a process down to a science, I think that is how I define it being easy. It is not dependent on a single person, and you can replicate the steps into a methodology to achieve the goals. Turns out, success is truly this easy.
Analysis. Test hypothesis, run experiments, think “minimum viable”. This step requires little effort, little money, mainly time and energy. This is an important step that can be leveraged next.
Execute. Run experiments, test, get feedback. This is a step people usually forget because the feedback is where “failure” can surface. But that’s just life. Take them as feedback to go back to the drawing board and rebuild something even better.
Capital. Capital is the last, because until there is something real that can be leveraged (knowledge, skillset, some level of product market fit), receiving capital is pointless. Capital is a means to an end to enhance leverage to a new level. Without something to leverage on, pure capital is truly meaningless.
Success is so basic and simple. Perhaps I’m thinking more like an investor and venture building, looking at 100x rocket ships, instead of a slow and steady evergreen lifestyle business. I like this new perspective and change. It reduces chances of failure and leverage success in each step.
I learnt that there is a methodology in success. It’s straight forward and basic.
Baby Steps and Growth
Analysis → execution (via experimentation) → feedback → capital to leverage this cycle
The truth is that there is no such thing as “perfect” product or service. It is a continuous improvement of the previous iteration. Life is not a 30 seconds movie montage where you end up with a perfect output and product. It is little baby steps, improving upon the previous steps. You never really see the new iteration, until you take a step back and observe the growth from a distance. That’s why I like quarterly reviews, because you get to take a step back and observe the growth.
I learnt to think in minimum viable and constant iteration. Then quarterly review to see how far we’ve come.
Capital
Strangely, I realised I was quite afraid of capital. I didn’t like having bosses and it felt like they would be the boss of me. Turns out, that’s wrong. They’re actually giants that I can climb on and sit on their shoulders as they provide valuable feedback as I navigate through the murky waters. I was afraid of not having enough analysis and execution to leverage. But the market feedback has proven that I am on to something. Capital here helps to speed the process and journey. For that, I am excited.
I learnt to look at capital as leverage. I’m in the leverage phase and let’s see how far we can take this rocket ship!
That’s 3 lessons about entrepreneurship. More lessons about people, team and culture, but I’ll leave that for the next time!
Love,
L