Time for Part 2 of the @CoffeeToro story that I'm live-tweeting!
Last week, we left with the idea these drive-through coffee kiosks are an attractive business *for me* to pursue.
How do we develop a plan to do it?
(Part 1 is here:
Last week, we left with the idea these drive-through coffee kiosks are an attractive business *for me* to pursue.
How do we develop a plan to do it?
(Part 1 is here:
https://twitter.com/girdley/status/1317567974753140736?s=20)
I do a type of entrepreneurship best matching this: effectuation.org
I didn’t invent it — but backed into it naturally and didn’t even know it had a name until @prasanna_says told me.
Basically: you run lots of scientific experiments that start small and build on them.
I didn’t invent it — but backed into it naturally and didn’t even know it had a name until @prasanna_says told me.
Basically: you run lots of scientific experiments that start small and build on them.
So back to coffee...
The first step to making a huge coffee company is opening a small coffee co.
So how do I run a “learning test” by opening a store?
The first step to making a huge coffee company is opening a small coffee co.
So how do I run a “learning test” by opening a store?
First, my constraints/wishes:
-I like to do ventures with others
-I suck at detail-oriented stuff (like construction)
-I can only do this as a side-hustle
-I have other assets that can potentially help
-I’m good at orgdesign/hiring
-I can invest some $
Know thyself,etc.
-I like to do ventures with others
-I suck at detail-oriented stuff (like construction)
-I can only do this as a side-hustle
-I have other assets that can potentially help
-I’m good at orgdesign/hiring
-I can invest some $
Know thyself,etc.
I know I’ll be miserable if I am a solo founder.
And I try to copy what I’d seen successful people do: As they run across “talent”, they bookmark those people in their mind.
I had such a person named Joe (not his real name) that I’d always wanted to work with.
And I try to copy what I’d seen successful people do: As they run across “talent”, they bookmark those people in their mind.
I had such a person named Joe (not his real name) that I’d always wanted to work with.
Why Joe?
First of all, he’s a great guy and everyone loves spending time with him.
Second, we’d done business so I knew he’s of high capacity and integrity.
He also has an unfair advantage of a deep knowledge of construction (recall my “sucks” from earlier) from his day job.
First of all, he’s a great guy and everyone loves spending time with him.
Second, we’d done business so I knew he’s of high capacity and integrity.
He also has an unfair advantage of a deep knowledge of construction (recall my “sucks” from earlier) from his day job.
Next step was to pitch Joe on joining.
I prepared a 300-page pitch deck and we did a 5 hour session at a local steakhouse.
I also brought in my accountant, lawyer and three Gardner analysts to brief him on the Arabica coffee space.
(Actually that’s a joke. Don’t do that.)
I prepared a 300-page pitch deck and we did a 5 hour session at a local steakhouse.
I also brought in my accountant, lawyer and three Gardner analysts to brief him on the Arabica coffee space.
(Actually that’s a joke. Don’t do that.)
I’m just kidding —
I just called him and we had a “zoom” coffee for a half-hour.
I said, “Here’s the idea and how I think we could try it while keeping our day-jobs.”
Asymmetric risk.
So, I’ll pause for now.
In the next episode, “How do you pitch a business partner?”
I just called him and we had a “zoom” coffee for a half-hour.
I said, “Here’s the idea and how I think we could try it while keeping our day-jobs.”
Asymmetric risk.
So, I’ll pause for now.
In the next episode, “How do you pitch a business partner?”
• • •
Missing some Tweet in this thread? You can try to
force a refresh
