The Power of FOCUS for Start-ups (A Theory of Constraints Application)
Finally, it is possible to go to market with a new innovation, and hit the market’s sweet spot or tipping point, on the first attempt. Through Constraint Thinking, the elusive nature of the market’s sweet spot has been removed.
In order to realise it fully however, you will have to change your mind-set, from Hope and a high level of Determination, to one of Focus and a high level of Confidence.
Warning: If you continue to use the old mind-set (one of Hope and high level of Determination), you will continue to act as if the sweet spot is elusive!
# The old mind-set operates on
Hope and a high level of Determination
To-date, the basic assumption has been that the market’s value sweet spot is elusive – and that very few Start Ups will hit it on their first attempt, and that most may never hit it.
Under these conditions, founders will always rely on the HOPE that their next initiative / idea is going to work, this time. Note: Hope is an optimistic attitude of mind that is based on the expectation of a positive outcome.
Further, founders are blessed with a lot of determination. Note: Determination is a positive emotional feeling that involves persevering towards a difficult goal, in spite of the obstacles.
As long as the market’s sweet spot is elusive, it is generally accepted that you are going to need a lot of Hope and a high level of Determination to continue your search, to find the market’s sweet spot!
Current Start-Up “Push” paradigm:
Within this current paradigm, people have subsequently developed and adopted various techniques and rules, to accommodate for the elusive characteristic of the market’s sweet spot.
Search methods, techniques and rules include:
- Ready – Fire – Aim, Ready – Fire – Aim, etc.
- Fail Fast – Learn Fast;
- Build-Measure-Learn, and repeat again and again;
- Fast Experiments to test and validate assumptions,
By now, we also know that the odds have not improved dramatically either – the odds are still very poor, and most start-ups will still not make it. Hope and a high level of determination are necessary, but it is far from sufficient, to guarantee success!
#The new mind-set operates on
Focus and a high level of Confidence
Advancements through the application of the Theory of Constraints, have resulted in removing the elusive nature of the market’s sweet spot. This is done through the Theory of Constraints characterisation of the market constraint.
It is now possible to accurately define your market’s sweet spot, and then focus and align your business offering, to hit the sweet spot on the first shot consistently.
Through the Theory of Constraints, Start-ups can now FOCUS on :
- Identifying the most promising target markets,
- Identifying the target market’s sweet spot, and
- Identifying the key risk elements, affecting successfully hitting the sweet spot
Remember, you can’t expect success, if your target is out of FOCUS. Note: FOCUSis a state or condition permitting clear perception or understanding.
To re-enforce the point, taking risk, does not increase your level of confidence; you have to actively de-risk (turn uncertainties into probabilities), to increase your level of confidence. Note: CONFIDENCE is generally described as a state of being certain either that a hypothesis or prediction is correct or that a chosen course of action is the best or most effective.
The stronger the Focus, the lower the risk; the lower the risk, the higher the level of Confidence.
New Start-Up “Pull” paradigm:
The Old Rule: Use HOPE and a high level of Determination to make decisions and to act, when the target is totally elusive.
Through the Theory of Constraints, we have removed the elusive nature of the market’s sweet spot.
The New Rule: Use Focus and a high level of Confidence, to make decisions and to act, when the target is clear.
The bottom line: Focus is more effective than Hope (and prayer), and a high level of Confidence, is a much stronger force than mere Determination.
#Enabler of the new Mind-Set
Through TMARA we have perfected the process, which removes the elusive nature of the market sweet spot, and brings it into Focus, thereby aligning your business offering to hit the sweet spot from the start, consistently.
Let us screen your innovation’s current offering, and let us assist you to hit your market’s sweet spot, more consistently.