Start Up Stories

Getting the Unknowable Right… Fast!

Posted in Uncategorized by Devon on December 27, 2008

unknown It’ s late July, 2008 and we are looking at theJanuary release of a product that served a business model that we would ultimately abandon; go figure.   Venkat, who would become our CTO, had joined as a consultant to help steer product development.  I had found a former PayPal lawyer thinking that she’d help us through the regulatory hurdles we expected to face in the soon to be abandoned business model.  And I was rushing around talking to banks, again – trying to find operations support for a business model that depended on interest rates being substantially above zero.  I see that my venture capital selection was also congruent with the doomed business model.      

Lessons Learned

  1. The business model will drive all your actions so, it needs to be right at the earliest possible moment.
  2. The business model at time zero is probably unknown and unknowable, it will be found on the other side of a series of thought and market experiments.
  3. Pick your consultants with care, they may well be your future partners.     

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