business is a big project, in which different natural difficulties will encounter various, even encounter different traps, so in mind we must take hold a correct attitude.
thing there will be people with
but although FlowNet can beat any competitor at the technical level, it is in the business suffered a huge defeat. We don’t even sell one. The reason is simple: it is not compatible with LAN standards. If we had done our homework and done market research, we would have known that compatibility, even if not fatal, would be a big problem. So we wouldn’t waste their tens of thousands of dollars in patent applications and prototypes.
profit model is false
like myth 21, sometimes it is true. As CarlSagan often says, "prophecy is the art of failure". You never know how much money your business will make, nor how much money it takes to capture the market. The reason for the need to make a profit model is to allow yourself to do a comprehensive thinking, and make sure that the investment will be rewarded. If you find out that you have to be ten times larger than the current market, even if it’s just to keep it up, you might need to rethink it. As Eisenhower said, the plan Nothing is right., but planning is indispensable.
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