how to develop your vision
(founder's edition)
π§΅π
(founder's edition)
π§΅π
your vision allows you to:
- inspire your community
- motivate your team
- raise your funds
most importantly, it gives you,
the founder - clarity.
- inspire your community
- motivate your team
- raise your funds
most importantly, it gives you,
the founder - clarity.
developing your vision is
one of the most critical tasks,
but also one of the most elusive.
in this thread - we cover:
- 6 steps in crafting your vision
- 5 characteristics of a great vision
- 4 pitfalls to avoid in setting your vision
lets diveπ
one of the most critical tasks,
but also one of the most elusive.
in this thread - we cover:
- 6 steps in crafting your vision
- 5 characteristics of a great vision
- 4 pitfalls to avoid in setting your vision
lets diveπ
6 steps in crafting your vision.
1. keyword dump
2. identify your spark
3. choose your focus
4. study your competitors
5. find your web2 industry
6. seek advisors
1. keyword dump
2. identify your spark
3. choose your focus
4. study your competitors
5. find your web2 industry
6. seek advisors
1. keyword dump
- start by noting down all the words that are related to your product, service, industry, mission, values, short term goals, long term goals.
- this allows you to visualize all the data points, and to unload all the craziness happening in your monkey mind.
- start by noting down all the words that are related to your product, service, industry, mission, values, short term goals, long term goals.
- this allows you to visualize all the data points, and to unload all the craziness happening in your monkey mind.
ie. with new inspiration/realization/knowledge
i'd keep updating/pivoting/expanding our vision
πyou'd see the progression as the vision becomes more and more clear.
oct 2021 --> jan 2022 --> july 2022
i'd keep updating/pivoting/expanding our vision
πyou'd see the progression as the vision becomes more and more clear.
oct 2021 --> jan 2022 --> july 2022
2. identify your spark
- if you don't feel excited abt the vision as a founder, no one else will. you MUST identify the spark that excites you!
- be hyper critical and honest
- circle all your sparks
- if you don't feel excited abt the vision as a founder, no one else will. you MUST identify the spark that excites you!
- be hyper critical and honest
- circle all your sparks
ie. my mission in putting smiles on faces has being a common theme in all that i do for the past decade.
thats why im more excited than ever to continue this mission of mine with @thelittlesnft π
(award speech winning business of the yr award in 2014 - sharing my sparkπ)
thats why im more excited than ever to continue this mission of mine with @thelittlesnft π
(award speech winning business of the yr award in 2014 - sharing my sparkπ)
3. choose your focus
- we are all faced with two constraints:
time + resources
- select no more than 3 pillars to focus on.
- otherwise you spread yourself too thin.
- choose pillars that provide synergy with one another for x10 results.
- we are all faced with two constraints:
time + resources
- select no more than 3 pillars to focus on.
- otherwise you spread yourself too thin.
- choose pillars that provide synergy with one another for x10 results.
ie.
animation breathes life into our characters and expands our reach to millions of ppl.
gaming adds another element to our little world serving a different demographic, which again expands our reach to millions of ppl.
merch is what resonates with everyone.
all three stacksπ
animation breathes life into our characters and expands our reach to millions of ppl.
gaming adds another element to our little world serving a different demographic, which again expands our reach to millions of ppl.
merch is what resonates with everyone.
all three stacksπ
4. study your competitors
- find out what works and what doesn't work.
- read comments + feedback on their initiatives
- just b/c they are doing sth doesn't mean u should copy them.
- web3 is still a very new industry with no proven playbooks, so keep adapting.
- find out what works and what doesn't work.
- read comments + feedback on their initiatives
- just b/c they are doing sth doesn't mean u should copy them.
- web3 is still a very new industry with no proven playbooks, so keep adapting.
ie. aha moment when @Cryptoys , whose focus is toys/gaming/animation, have recently raised a $23M round from @a16z @TimDraper @Mattel @animocabrands @dapperlabs + etc.
validates the direction/vision that we have for @thelittlesnft when all these titans sees the sameπ€©
validates the direction/vision that we have for @thelittlesnft when all these titans sees the sameπ€©
5. find your web2 industry
- there are proven models outside of web3 that has achieved product market fit
- find those web2 industries and see what is proven to work to expand on your vision
- there are proven models outside of web3 that has achieved product market fit
- find those web2 industries and see what is proven to work to expand on your vision
ie. spin master is a $5B company, most notable for their creation PAW patrol amongst many.
they have 3 pillars of focus - toys, entertainment, games
this was all i need to have 120% conviction in my vision for @thelittlesnft to be the mario of web3 + our 3 pillars of our focus
they have 3 pillars of focus - toys, entertainment, games
this was all i need to have 120% conviction in my vision for @thelittlesnft to be the mario of web3 + our 3 pillars of our focus
6. seek advisors
- seek those who have been there, done that for what you'd like to achieve.
- u should have different advisors for different pillars.
- each advisor brings their respective knowledge + experience, strengthening your grand vision!
- seek those who have been there, done that for what you'd like to achieve.
- u should have different advisors for different pillars.
- each advisor brings their respective knowledge + experience, strengthening your grand vision!
ie.
animation we have the one + only @MariaPerezBrown
gaming we have @kohkim (ex-google game) + @Wagomon (ex-zynga) + @kalvin (ex-club penguin) + @curvethots
world buildin we have @tom (ex-gm of harry potter franchise)
+ @willweinraub founder of @Cryptoys!
+ more!
animation we have the one + only @MariaPerezBrown
gaming we have @kohkim (ex-google game) + @Wagomon (ex-zynga) + @kalvin (ex-club penguin) + @curvethots
world buildin we have @tom (ex-gm of harry potter franchise)
+ @willweinraub founder of @Cryptoys!
+ more!
now that we have the steps in
crafting a vision, lets explore the
5 characteristics of a great vision:
- big huge gigantic problems
- 5-10yr time frame
- grade 5 language
- achievable
- inspiring
@thelittlesnft 's vision is to be
the mario of web3
lets diveπ
crafting a vision, lets explore the
5 characteristics of a great vision:
- big huge gigantic problems
- 5-10yr time frame
- grade 5 language
- achievable
- inspiring
@thelittlesnft 's vision is to be
the mario of web3
lets diveπ
big huge gigantic problems
- the effort, resource and risk in solving a small problem is often relatively the same as solving for a big problem.
- the bigger the problem, the bigger the potential of rewards.
- so think big!
- the effort, resource and risk in solving a small problem is often relatively the same as solving for a big problem.
- the bigger the problem, the bigger the potential of rewards.
- so think big!
5-10yr time frame
- allows us to zoom out and think big when time horizon is long enough.
- helps reframe our mind allowing us to dare to dream.
- allows us to zoom out and think big when time horizon is long enough.
- helps reframe our mind allowing us to dare to dream.
grade 5 language
- if ppl don't get it, they leave.
- make it so they get it right away.
- avoid jargons so ppl can share it.
- if ppl don't get it, they leave.
- make it so they get it right away.
- avoid jargons so ppl can share it.
achievable
- must be believable and attainable.
- challenging but not impossible.
- if the vision is too far off, ppl can't rally behind it.
inspiring
- your why/passion is crucial to make the vision effective.
- you must be authentic.
- this is what moves ppl.
- must be believable and attainable.
- challenging but not impossible.
- if the vision is too far off, ppl can't rally behind it.
inspiring
- your why/passion is crucial to make the vision effective.
- you must be authentic.
- this is what moves ppl.
ie. mario of web3 (@thelittlesnft)
- is big enough of a vision to excite ppl
- simple enough for ppl to share with others.
- given enough time, is also achievable when web3 becomes mainstream.
- most importantly, is aligned with my why, my 3yo daughter, jordyn.
- is big enough of a vision to excite ppl
- simple enough for ppl to share with others.
- given enough time, is also achievable when web3 becomes mainstream.
- most importantly, is aligned with my why, my 3yo daughter, jordyn.
final learnings + sharing π
4 pitfalls to avoid in setting your vision
- setting a low profit potential
- calculating probability
- one time and done
- finding the hows
4 pitfalls to avoid in setting your vision
- setting a low profit potential
- calculating probability
- one time and done
- finding the hows
avoid - setting a low profit potential
- (profit potential) x (% of outcome) = (expected value)
- the higher your profit potential --> higher your expected value
- in short - AIM BIG so its worthy of the effort.
- (profit potential) x (% of outcome) = (expected value)
- the higher your profit potential --> higher your expected value
- in short - AIM BIG so its worthy of the effort.
avoid - calculating probability
- a lot of ppl wave off an idea/vision just b/c
(% of outcome) is low.
- if the potential is big enough, even at low probability, its still worth a shot.
- a lot of ppl wave off an idea/vision just b/c
(% of outcome) is low.
- if the potential is big enough, even at low probability, its still worth a shot.
avoid - one time and done.
- you shouldnβt always change your vision
- however, it should be something often refined
- especially when your knowledge, expertise + insights are expanding everyday.
- would be foolish of us to not pivot when presented with new information.
- you shouldnβt always change your vision
- however, it should be something often refined
- especially when your knowledge, expertise + insights are expanding everyday.
- would be foolish of us to not pivot when presented with new information.
avoid - finding the hows
- vision is abt finding where we want to go.
- focusing on the hows could be paralyzing b/c often its a puzzle yet to be solved.
- the hows is what your rely on your team of talents and advisors for
- donβt get tripped up
- vision is abt finding where we want to go.
- focusing on the hows could be paralyzing b/c often its a puzzle yet to be solved.
- the hows is what your rely on your team of talents and advisors for
- donβt get tripped up
there you go.
- 6 steps in crafting your vision
- 5 characteristics of a great vision
- 4 pitfalls to avoid in setting your vision
coming up with a vision is not sth that
can be done in a span of hours.
- 6 steps in crafting your vision
- 5 characteristics of a great vision
- 4 pitfalls to avoid in setting your vision
coming up with a vision is not sth that
can be done in a span of hours.
sometimes it could be days, others weeks/mths.
oftentimes it requires new insights, talking to lots of ppl, studying different industries, allowing all your data points to settle before you can draw the right connections to come up with your vision.
oftentimes it requires new insights, talking to lots of ppl, studying different industries, allowing all your data points to settle before you can draw the right connections to come up with your vision.
this is the process iβve gone through to fine-tune the vision for @thelittlesnft
so we can continue to build with strength,
venture with clarity, rally in confidence!
#buildinpublic #wethelittles
so we can continue to build with strength,
venture with clarity, rally in confidence!
#buildinpublic #wethelittles
i hope you find value in this thread.
RT the tweet below to help others and
follow along the ride! π
RT the tweet below to help others and
follow along the ride! π
https://twitter.com/wilxlee/status/1556730913848823808?s=20&t=JkpsGugz6WNeghFcviN5qQ
update: biz dev helped a ton in expanding my horizon. π
https://twitter.com/wilxlee/status/1541916589850710016?s=20&t=33OFzK6vMHOWCUo5kt2kPw
update: speaking abt it also helps refine the vision π
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