Which problems to solve ?

There are only three types of problems in the Universe.

(Problem, Solution)

1. Known, known  
2. Known, Unknown
3. Unknown, Unknown 

What I have come to realise that I love solving category 2 type of problems. It has a lot of impact on the lives of other humans. They are willing to pay disproportionately to someone who has solved category 2 problem.

Category 2 problems are tough, because no apparent solution present  - apt problem for entrepreneurs

Category 1 problems are for professional and skill experts 

Category 3 - this is for philosophers to play with 

Therefore, I should only invest time in things that are category 2. 

I should be strict with my time distribution of the day and try to focus my attention/effort on category 2 problems.

How to operate a Monopoly ?

Model it for one petrol pump
Use similar indicators to run other petrol pumps

It all begins with one petrol pump - run it well and make it a monopoly

YouTube video sharing

Compounding trust over time
People will know
Path of least resistance
Present in each person’s pocket
I am trained in performing arts in my childhood - will be easy for me


The biggest factor - it will be there forever and growing

Video creation core factors

1. To the point
2. Instantly useful 
3. Derivative social utility component
4. Clear expectation 
5. As small a video as possible 

One line that summarise all of management - by Andy grove

The art of management lies in the capacity to select from the many activities of seemingly comparable significance the one or two or three that provide leverage well beyond the others and concentrate on them.



My operation management training ends today..

Now practice ...... till eternity 

Business certainty for evaluating ideas

Powerlaw 

Timing of the business  = T

Market size of the business = M

Finance of the business  = F

Execution ability of the business = E 

Certainty quotient of the business. = T * M *F * E 

C = T*M*F*E

{ T,M ,F,E , C - all values are between 0-1}

This is why success in business is hard. It is a multivariable intersection of variables.

If any of those variables is close to zero - the entire equation gets closer to zero. In order to have a decent chance of success, one has to juggle 4 variables and get them all aligned for success.

Trust me - it is hard.

Every action of yours should be rate

1 - uncertain
2
3
4
5
6
7
8
9
10 - completely certain


Make it a habit.