Think about the last time you tried to get into an exercise routine. Or consistently wake up earlier. Or quit smoking. None of those things are complicated, but all of them are hard to accomplish. We don’t fail at them because they’re complicated, we fail at them because we don’t prioritize them and think about them (let alone do them) on a daily basis.
Even when they stop getting the desired results, founders keep pressing that button, hoping the inscrutable machine starts working again.
The only way to truly prove that a business idea is good is to launch it and make it successful. What is much, much easier is proving that a business idea is a bad one.
This week I’m handing off the blog to a good friend and client of mine, Pascal Wagner, to provide a case study for one of my coaching aphorisms, The 1-10-100 Process. Pascal’s experience provides additional insight into what happens when my clients put my advice to work.
Investors are looking for a solid framework of how your company will grow and succeed, and they want to understand all of the assumptions underpinning that framework. It’s called The 1-10-100 Process, and it meets all the same criteria as a five-year projection, without the arbitrary time variable.