|
It seems the recurring theme of these stories is too much initial capital investment without a successful soft-launch to test the market before ramping up the project.
Quiet once told me:
1) Have an idea
2) Test it as cheaply as possible
3) See if it works
4) If it makes more than it costs scale it up slowly
5) If it keeps making more than it costs, scale up 'the fuck out of it'
As he put it, leaving out steps 2 and 3 can cost you a fortune, leaving out steps 4 and 5 can prevent you from making a fortune.
RIP Quiet... you are missed.
|