Principles

1. Meaningful Authentic Purpose

2. 10x better or easier / pmf / push vs pull

   1. Trends (mobile, social, cloud/on-demand, big data, crypto, align price with use, etc) / timing / avoid status quo bias
   2. Customer obsession / Empathetic / Human-centered
   3. Think outside the box
   4. Impact assessment / Value-chain analysis
   5. Addressing non-consumers/Non-suppliers / Start with Low-end segment
      1. Inspire
      2. Empower them by removing a single barrier:
         • Time, Money, Skill, Resource, Access
   6. Don't shrink the pie, grow the pie / Competition is for losers / Bring value to the game / Complement, don’t compete / Never compete on price / Think about co-opetition
   7. Unbundling / Subtraction against the feature death loop / less is more / Improve by eliminating
   8. Biz model innovation >> Product innovation / When the competition gets tough, change the game
   9. Address the root cause, not the symptom / Correlation isn’t causation

3. Positive Feedback Loop / network effect / compound effect / flywheel effect

   1. Single-player mode -> GoTo Principle 2 (10x better)
      • Come for the tool, stay for the network
   2. Create a Community for one-side (rate&review, Q&A, Forums etc)
   3. An action done by a user helps other users (implicit) / Every product output should feed another product
   4. Create opportunities for users to connect/interact(e.g. pay for me)
   5. Expenditure or Investment?
   6. Network properties (asymptotic behavior?)
      1. Managed vs unmanaged
         • Pricing, matching, etc
      2. Homogenous vs Hetetergenous (prosumers)
      3. Differentiated vs commoditized
   7. Centralized vs decentralized
      1. Crowd-sourcing
      2. Co-creation
      3. Believe in the power of the crowd
   8. Take advantage of Network Irregularity
   9. Leverage existing networks / Take into consideration threats of overlap with existing networks

4. Building a marketplace? Liquidity is the thing

5. Bits scale, atoms don’t / Sofware Eats the world / The value comes from software / Growth should come from the technology

6. Day “0” test / sunk cost fallacy

7. Proprietary growth channel

   1. Growth products
   2. Product-led growth

8. Path to profitability (Revenue/Growth margin trending)

9. Stay in the middle of Money flow | Predictability

10. Moat / Defensibility

    1. AI Flywheel / Data Network Effect / Data Moat/Data Product vs Feature / Real-time Nature
    2. Hooked (Journey)
    3. Vertical integration

11. Toothbrush test / frequency of usage

12. Own the customer relationship

    • The supply goes where demand is

13. Average lifespan

14. Customer/Supplier Concentration

15. Double down on your strategic weapon

16. Marketing/operation spend vs Tech/Talent spend

17. Facing critical situations, do OODA-Loop

18. Ads + transaction

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This repo presents recommended principles for any entrepreneur who wants to be a principle-first thinker. startups could contribute these principles also they could have a customized version by forking this repo.

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