Facebook story seems to be one of grow…bump into problems…then address. And it’s led to humongous privacy blunder, followed by user data exploitation, followed by humongous privacy blunder.
So…maybe a sense of morality/priorities (other than maximise shareholder value) is needed when taking the grow first solve problems later approach
Puting out a dangerous product that will result in lawsuits, etc is a terrible way to kill the company. 5 million sales = 5 million potential lawsuits. Someone is going to look at u and ask, "Did u never even stop to think that your customers were going to do THAT w the product & hurt themselves?"
I understand MVP, but all that feedback should be used for improvement & looking for pitfalls to enhance, redesign, reevaluate the product.
Instead, a lot of "growth companies" are losing money w every sale & expecting high-volume to support the company. Or they're spending millions in marketing to "blame the customer".
U only get 1 chance to make a 1st impression. My shoes either WOW! them & make them want to buy, or they don't and begin to build me a ho-hum reputation. Crocs are ugly, but they're comfortable. X experience changes their mind.
I'd be interested in other responses on the thread. As someone with nearly a decade of specializing in startup consulting (PMF, discovery, and growth, mostly), I find that the problem isn't usually too much thinking, it's too much doing without *enough* thinking. This is generally because the founder and the early team don't know what they're doing--they *want* to know what they're doing, they know there *is* "some way that works," and that optimism is important. You'll never get anywhere without doing. But the ones who make it realize that they're potentially building something that will keep going, and the way it got there will be the way it keeps going for a long time. You want to refactor as you go, not fix it in post, and that requires thinking. Like I tell my clients: "Look, if you have fifty million dollars, do what you want. If you don't, listening to me is how you'll get that fifty million."
Facebook story seems to be one of grow…bump into problems…then address. And it’s led to humongous privacy blunder, followed by user data exploitation, followed by humongous privacy blunder.
So…maybe a sense of morality/priorities (other than maximise shareholder value) is needed when taking the grow first solve problems later approach
Wouldn't that depend on the company / product?
Puting out a dangerous product that will result in lawsuits, etc is a terrible way to kill the company. 5 million sales = 5 million potential lawsuits. Someone is going to look at u and ask, "Did u never even stop to think that your customers were going to do THAT w the product & hurt themselves?"
I understand MVP, but all that feedback should be used for improvement & looking for pitfalls to enhance, redesign, reevaluate the product.
Instead, a lot of "growth companies" are losing money w every sale & expecting high-volume to support the company. Or they're spending millions in marketing to "blame the customer".
U only get 1 chance to make a 1st impression. My shoes either WOW! them & make them want to buy, or they don't and begin to build me a ho-hum reputation. Crocs are ugly, but they're comfortable. X experience changes their mind.
I'd be interested in other responses on the thread. As someone with nearly a decade of specializing in startup consulting (PMF, discovery, and growth, mostly), I find that the problem isn't usually too much thinking, it's too much doing without *enough* thinking. This is generally because the founder and the early team don't know what they're doing--they *want* to know what they're doing, they know there *is* "some way that works," and that optimism is important. You'll never get anywhere without doing. But the ones who make it realize that they're potentially building something that will keep going, and the way it got there will be the way it keeps going for a long time. You want to refactor as you go, not fix it in post, and that requires thinking. Like I tell my clients: "Look, if you have fifty million dollars, do what you want. If you don't, listening to me is how you'll get that fifty million."
It's all about the balance