The 2 Guiding Principles for all Entrepreneur
Author : Writer at Chatur Idea
Posted : 2 years ago
the 2 guiding...
26May, 2016

The two guiding principles for successful entrepreneurs are as follows:

(i)     Increasing the experiments

(ii)    Shortening the feedback cycle

It all began with a blog. In 2016, I startedchaturideas.com as a way to experiment with ideas and get feedback on my writing. Every thought that I had and every bit of content I produced went public through my blog as if it was my personal chat channel with the rest of the world. This was long before the rise of Twitter, Facebook and YouTube.

It was completely the opposite approach compared to what I had done during the school times. At the end of my school journey, I also had lots of ideas. But I kept them mostly to myself, and I tinkered endlessly with my texts, code and other creative endeavors until everything was "ready" for the public.

And then, nothing happened.

While writing on my blog few months later, I worked the other way around. I wrote about how things should be and what the world could look like before committing to a single line of code for anything. This enabled me to understand, through conversations with my readers, what people really wanted. I could assess the value of my ideas with little more than thought experiments. 

Ultimately, the interaction with readers made me realize that business coaches and consultants were in need of concrete management practices offered with a licensing program. And then -- my life changed forever.

The core principles behind almost all innovation, development and management methods nowadays are increasing the rate of experiments and shortening the length of the feedback cycle. I believe they should also be the two guiding principles for every successful entrepreneur.

When I had a blog, I wrote about many ideas on which I could get feedback in just one day.

In 2016, even a blog can be a bit too slow. You can validate your ideas with SnapChat, Instagram, Periscope or any other platform that allows you instant interaction with people across the world.

So, increase the rate of your experiments and shorten the length of your feedback cycles. It works wonders for your learning rate. It's what got me to where I am now.