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Paras Chopra

@paraschopra

14 Dec

Only two types of startups exist: technology-led and culture-led

(a short thread on this mental model)

🔥 It's also the 7th chapter of my book invertedpassion.com/types-of-start…

1/ There are two ways an entrepreneur can fail:

a) launch a product that nobody desires;

b) launch a product that people desire but with no significant advantage over established competitors (hence give no strong reason for a customer to switch away).

2/ These two failure modes have their analogous success modes:

a) culture-led startup success where a new desire is discovered and fulfilled;

b) technology-led startup success where new technology is used to fulfill an existing desire.

Read 26 tweets

Paras Chopra

@paraschopra

7 Dec

https://twitter.com/fmg_twtr/status/1334884184675012609

This is why most published research is false (as in being non-replicable)

You ask why?

Let’s dive in.

https://twitter.com/fmg_twtr/status/1334884184675012609

1/ You are looking at the distribution of Z-values from medical papers.

Z value tells you how unlikely is your observed data to happen by chance given there is no effect.

Which means, lower the Z-value, the more likely your results are due to noise and not genuine phenomena.

2/ Notice the two nice bumps around 0?

They correspond to conventional threshold of p<0.05 which a research result must qualify (by convention) to be published.

Read 13 tweets

Paras Chopra

@paraschopra

1 Dec

Don’t be a first-mover, be the first one to get it right

(a short thread on this mental model)

🚀 It's also the 6th chapter of my book invertedpassion.com/dont-be-a-firs…

1/ Any one person or one company cannot create a new market.

Markets are usually co-created by multiple competitors offering to satisfy a particular customer desire.

invertedpassion.com/jobs-to-be-don…

2/ Even the markets that seem to be dominated by one company usually have multiple credible competitors – Google has Bing and DuckDuckGo and Facebook has Twitter, TikTok and Snapchat.

Read 23 tweets

Paras Chopra

@paraschopra

23 Nov

@nielsen

Market research firm @nielsen annually publishes case studies on breakthrough consumer retail goods that achieved >$50million in sales in 1st year.

I read their 2016 report (which is awesome), and here are my notes about 🧫 innovation nielsen.com/wp-content/upl…

1/ I was amazed by the fact that almost all the winning products had nailed the consumer "jobs".

What are jobs? To put it simply, jobs are specific circumstances that people struggle with and as we all know, people would prefer not to struggle.

E.g. getting rid of cat piss odor

2/ It's a fantastic reiteration of this mental model I wrote about before.

BUSINESSES EXIST TO FULFIL HUMAN DESIRES invertedpassion.com/why-do-busines…

Read 15 tweets

Paras Chopra

@paraschopra

18 Nov

Search for market-product fit, not product-market fit

(a short thread on this mental model)

🔥 It's also the 5th chapter of my new book invertedpassion.com/product-market…

1/ It’s near impossible for a product to create a new desire in customers all by itself. No single product creates a market.

Multiple environmental, political, economic, social, and technological factors come together to delicately and gradually shape what customers desire.

2/ That collective process, which is beyond any single company, creates an opening for new products to address evolved customer expectations.

The million dollar question is: how do you discover these evolving trends?

Read 20 tweets