He argues that this kind of “build it; they will come” aka “Just Do It” business process is a recipe for failure because you make a lot of untested assumptions about your market, and front-load a ton of (often wasteful) work.
He suggests the “Build, measure, learn” feedback loop, which you actually plan backwards:
1. Figure out what you need to learn by outlining the key assumptions, including your value hypothesis and growth hypothesis.
2. Decide how you will measure your success in validating (or invalidating!) those assumptions with science (eg he calls his method “innovation accounting”).
3. Build the smallest experiments (or MVPs) that will allow you to learn the things you need to learn.
4. Make adjustments to your hypothesis, rinse, and repeat.
Another common theme, “get out of the building” and actually speak with all kinds of potential customers. Since a start-up operates in an environment of high uncertainty they cannot rely on traditional planning.
Anyway I love reading the book and learning about the early days of Intuit, Dropbox, etc and how sometimes the way to make the most progress feels very counter-intuitive.
It almost feels like a real world version of Stochastic Gradient Descent for businesses to mechanically gravitate to various local minima on an invisible failure landscape.
1) most pros use green screens for background removal
2) for (rare) shots where background needs to be removed and green screen cannot be applied, a high quality removal like the one here is needed
3) for such rare occurrences, charging higher amount of money is completely appropriate and no reasonable pro would complain as it would save them additional costs of re-shooting the scene completely or doing the removal manually
4) nobody has anything similar, so they can charge premium while it's possible
Given what I mentioned I'd say their price is too low anyway.
He argues that this kind of “build it; they will come” aka “Just Do It” business process is a recipe for failure because you make a lot of untested assumptions about your market, and front-load a ton of (often wasteful) work.
He suggests the “Build, measure, learn” feedback loop, which you actually plan backwards:
1. Figure out what you need to learn by outlining the key assumptions, including your value hypothesis and growth hypothesis.
2. Decide how you will measure your success in validating (or invalidating!) those assumptions with science (eg he calls his method “innovation accounting”).
3. Build the smallest experiments (or MVPs) that will allow you to learn the things you need to learn.
4. Make adjustments to your hypothesis, rinse, and repeat.
Another common theme, “get out of the building” and actually speak with all kinds of potential customers. Since a start-up operates in an environment of high uncertainty they cannot rely on traditional planning.
Anyway I love reading the book and learning about the early days of Intuit, Dropbox, etc and how sometimes the way to make the most progress feels very counter-intuitive.
It almost feels like a real world version of Stochastic Gradient Descent for businesses to mechanically gravitate to various local minima on an invisible failure landscape.