A story of a professor challenging students to bake and sell goods, highlighting the importance of finding eager customers to test business ideas and make critical decisions about pursuing them.
Today, we'll talk about one of the most common hurdles entrepreneurs run into - getting tempted by a new idea a few months into working on their main idea. We lay out a framework to identify the first principles of the new idea fast so you can decide if it's worth a pivot. We also dig in on why the urge to pivot shows up, procrastination, and how to win a baking contest. And, English Lords from the 17th century.
00:26 Intro
05:40 Chronic Pain Side Idea
08:30 Smooth Jazz
09:00 All Babies Are Cute
13:00 Internal vs. External Signal
14:01 Why You Have a Lawn
16:50 What to Look For in a New Idea
20:30 How to Win a Baking Competition