282 Tweets by
Paras Chopra

24/ his recommends the following thumb rule: 馃憠馃徏 choose problems that are at an intersection of importance and tractability. pic.twitter.com/jFnOaFlNvY

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12/ So, to judge a problem鈥檚 importance, look at the expected improvement in the world if it is solved.

1/ Picking problems to solve is a function of attention. Wherever and whatever you鈥檙e paying attention to is going to reveal problems in that domain to you. Solving such revealed problems is going to absorb you and will reveal even more problems worth solving in that domain.

Commoditize your value chain before it commoditizes you. (a 馃У thread on this mental model) pic.twitter.com/e2n7DZuiJA

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over 2 years ago

7/ A common mistake that entrepreneurs make is to focus exclusively on end-customers while ignoring to build long-term, genuine partnerships with other businesses.

3/ If nurtured well, business partnerships create positive feedback loops that help rapidly grow a business Consider the case of Apple, famously vertically integrated company that makes its own OS, processor & phone components that most companies typically purchase from vendors

1/ No business delivers value to the end customer all by itself. In reality, a business does very few things within its boundaries. Everything else must come from other businesses: from renting servers on AWS, leasing offices, advertising on Google & buying laptops from Dell.

15/ 馃 Remember: your startup belongs to an ecosystem and to maximize your startup's potential, make sure you grow the ecosystem too.

11/ A growing ecosystem lifts all companies that belong to it, but a declining one punishes even the best-run companies. An example of a declining ecosystem today is the publishing industry.

6/ While the natural urge for entrepreneurs is to capture maximum value for themselves, but that often gets them stuck into local maxima. For truly maximizing value, the entrepreneur needs to push for the growth of the entire ecosystem (and not just her own company).

1/ All startups live in an ecosystem where different businesses directly or indirectly support one another. e.g in the case of the automotive industry, the ecosystem consists of car manufacturers, parts manufacturers, petrol stations, service centers, car insurance companies.

All startups belong to an ecosystem that makes or breaks them. (a 馃У thread on this mental model) pic.twitter.com/zrJSe53DQo

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3/ Startups can fail for many reasons. Even if an entrepreneur gets everything right but errs on a specific aspect (say distribution, pricing, onboarding, or even the choice of technology), it鈥檚 possible that her entire project fails. pic.twitter.com/9jnFngF0Zd

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4/ Getting several things right in one go is almost impossible. Therefore, an entrepreneur should strive to have clarity on what few aspects of the *total solution* delivered to customers need originality and everything else should be borrowed from current best practices.

9/ Different geographies have different challenges that require innovation. Take Flipkart for example. It鈥檚 a multi-billion dollar company in India, and its founders learned the model after working at Amazon.

17/ 馃 Remember: innovate only on one thing that differentiates your business; copy everything else.

Steal successful ideas from everywhere. (a thread on this mental model) 馃帀 14th chapter of my book: invertedpassion.com/steal-successf鈥 pic.twitter.com/BmDL4cSD48

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Habits prevent people from switching from the familiar to the new. (a thread on this mental model) 馃帀 It's the 12th chapter of my book: invertedpassion.com/habits-and-int鈥 pic.twitter.com/asv6buQPSH

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Deliver value only on dimensions that customers care about. (a thread on this mental model) 馃帀 It's also 11th chapter of my book invertedpassion.com/deliver-value-鈥 pic.twitter.com/EbSEAXrClf

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All sophisticated solutions start extremely simple (a thread on this mental model) 馃摃 It's also 10th chapter of my book invertedpassion.com/all-sophistica鈥 pic.twitter.com/5jD3poKjTK

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People don鈥檛 like using technology. (a short thread on this mental model) 鉁 It's also the 9th chapter of my book invertedpassion.com/people-dont-li鈥 pic.twitter.com/Tuz7CIsIBP

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over 2 years ago

Be the king of a pond, rather than a dead fish in the ocean. (a short thread on this mental model) 馃敟 It's also the 8th chapter of my book invertedpassion.com/define-your-ma鈥 pic.twitter.com/5ytcK4bOKs

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Only two types of startups exist: technology-led and culture-led (a short thread on this mental model) 馃敟 It's also the 7th chapter of my book invertedpassion.com/types-of-start鈥 pic.twitter.com/tBXU9svvff

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Don鈥檛 be a first-mover, be the first one to get it right (a short thread on this mental model) 馃殌 It's also the 6th chapter of my book invertedpassion.com/dont-be-a-firs鈥 pic.twitter.com/IAtdAs0E9E

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over 2 years ago

Search for market-product fit, not product-market fit (a short thread on this mental model) 馃敟 It's also the 5th chapter of my new book invertedpassion.com/product-market鈥 pic.twitter.com/7pFF1Q2WCm

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over 2 years ago

Be in the desires market, not the solutions market. (a short thread on this mental model) 馃殌 It's also the 4th chapter of my new book invertedpassion.com/jobs-to-be-don鈥 pic.twitter.com/0xpWBAGvuP

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Evidence of desire is in people鈥檚 behavior (and not in what they say) (a short thread on this mental model) 馃帀 It's also the 3rd chapter of my new book invertedpassion.com/evidence-of-de鈥 pic.twitter.com/zkN957RNDo

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Businesses exist to fulfil human desires. (a short thread on this mental model) 馃帀 It's also the 2nd chapter of my new book invertedpassion.com/why-do-busines鈥 pic.twitter.com/6kPRr9AJxT

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