#41 - Sorry, But What Problem Are You Solving Again?
This thinking started on a 1-hour train journey from Kent. Opening my Whatsapp I speak to a good friend who’s in ideation phase and has asked me to help with discovery and validation and though I am super busy he gave me an offer I cannot refuse (he rarely takes no for an answer and made a deal with me I couldn’t refuse).
I will say I was a little shocked because the more I unbundled what he wanted to do the more I realised he had already rush into solutioning. This surprised me a little because this is someone who talks about my blogs and it became more apparent that the process isn’t one he is familiar with.
He couldn’t tell me in a simple sentence or two, the problem he was solving.
Well if he couldn’t tell me, how could he get his potential customers on board.
Let's Build Great Products
AARRR & Pirate Metrics
This is Dave McClure’s model in Infographic form.
AARRR (The Pirate Metrics) has been called by many in the product community the perfect model to help you to improve your business, optimize your funnel and grow your business.
Sunday Reads
The Story of Reginald Lewis, classic Private Equity from a successful black American
I read the book of Mr. Reginald F. Lewis and how he built a Billion Dollar Empire first rising to prominence as a lawyer and the leader of the global food company TLC Beatrice International. Sir Lewis was the first African American to close an overseas billion dollar leveraged buyout deal with a global conglomerate of 64 companies in 31 countries.
This isn’t like the VC/Angel model you hear about these days. When I was in banking, some teams worked through the clock on these complex deals. Not for the faint-hearted.
Remembering the Power of In Person Communication
A quick post about keeping in-person customer feedback sessions in the picture in today’s digital age.
Should your customers be conned by a human or AI? –
Talking about the pros and cons of [the ‘concierge’ and the 'Wizard of Oz’ MVPs] and how to avoid the common pitfalls when building for AI.
Helpful Tool(s)
Paystack - Helping Nigerian businesses collect recurring payments without the hassle
The founders were part of YC’s W16 and they are both very technical themselves.
They DON’T have the problem of outsourcing their technology which means they can move quicker and own the experience.
Now businesses like gyms, hotels and other subscription services can do their thing.