Start Up Stories

I’m Certain That This Is Uncertain

Posted in Uncategorized by Devon on February 23, 2009


It’s late September and we’ve ventured “across the river” – an MIT-term indicating the location of an otherwise nameless school to visit a Harvard professor who works in the area of savings. It’s a great meeting and we learned a lot about what works and what doesn’t in terms of savings programs. I begin to see the wisdom of Dan Ariely’s work, who specializes in that strange science called Behavioral Economics. I am also now recruiting another founding member of Micronotes, Merritt Mayher, who will ultimately join; a great move. I also see that I was starting to have reservations about our old business model and was really spending more time rethinking, rather than perfecting the old model. I see that we are also starting to venture out into the blogosphere.

Lessons Learned and Questions to Ponder
1. It’s tough to do real innovation and look like a polished business at the same time; R&D seeks to increase risk and uncertainty, business plans are supposed to reduce risk.
a. Are you trying to represent a fundamentally uncertain R&D process with 2 decimal place accuracy on the proforma profit and loss statements?
2. Don’t ever stop looking for great people to join your venture – you will be richly rewarded.

a.Are you planning to spend at least one hour a week recruiting the next great team member?

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