The ambidextrous mindset: how to balance exploration and exploitation
"Innovating requires a taste for risk taking and experimentation; optimizing calls for an altogether different skill set, mostly reliant on refinement and efficiency." This makes people who can do both an extremely rare breed.
What’s the difference between exploration and exploitation, and how can they be balanced to create innovative products, efficiently?
Strategy, Tactics & Powerpoint
When building a presentation, take a step back and use intention to focus on what you want to present. First, think: Who is this presentation for? Next, think: What change are we seeking to make? Are you trying to cause an action, or change a belief?
When I was a wee intern many years ago, my boss told me that no one remembers what you present. They remember how you make them feel.
How To Save Yourself From Bad Startup Ideas That Look Good
There are some startup ideas that sound plausible, but actually are bad. Read this to learn how to avoid them. You will find it harder to succeed if you are:
- Not solving a top-tier problem - If you're not solving a major pain point, it's not important enough for the customer to care
- Solving a problem people don’t know they have - Steve Jobs did well here but if you're a first timer it's likely to be hard to convince people that they need your product.
- Building a product which solves everyone's problems - if you are solving a general problem, people might not be as passionate
- Cloning an existing player, but with slight improvement - Cloning without any novel twists or improvements means the incumbent / one with bigger pockets is likely to win.
Frameworks (by Chris Paik)
Great frameworks that help you shape your thinking. I enjoyed learning about Business Model - Product Fit, Seven Deadly Sins as humans' core motivators. Chris' theories & random thoughts are interesting too.
- "Constraints breed creativity."
- "The willingness to be perceived as wrong for an extended period of time is a valuable character trait."