Startups Can I skip user interviews? |
- Can I skip user interviews?
- Decided to start recruiting. How to go about it?
- Working 2 jobs - first member of a start up, what should I be asking for?
- Queation on how to proceed
| Posted: 27 Apr 2019 06:56 AM PDT So I've been reading Thinking Fast and Slow by Daniel Kahneman. One of my biggest takeaways from his book concerns small sample sizes. Kahneman repeatedly mentions that humans underestimate the inflated role of small sample sizes in our "conclusions." One example is derived from an essay written by two statisticians, Howard Wainer and Harris Zwerling. It focused on a large investment, some $1.7 billion, which the Gates Foundation made to study and replicate the characteristics of the most successful schools. One of the main conclusions of this research is that the most successful schools, on average, are small. In a survey of 1,662 schools in Pennsylvania, six of the top 50 were small. Consequently, this encouraged the Gates Foundation to invest in small schools, sometimes by splitting large schools into smaller units. It's easy to construct a causal story that explains how small schools are able to provide superior education, eg. more attention paid to each student due to a higher faculty to student ratio. Unfortunately, the results ignored that bad schools also tend to be smaller than average. The truth is that small schools aren't better on average; their data just tends to be more extreme. According to Wainer and Zwerling, large schools actually produce better results, especially in higher grades, where students have access to more subjects. What does this mean for entrepreneurs? As humans, we are naturally drawn to conclusions based on limited information. If the numbers fit a narrative, we are inclined to believe that the numbers are true. We can theorize that this has aided our survival as a species. This is what makes small sample sizes so dangerous. Because the research in our example focused on average scores of smaller schools, they became fixated on those outliers. To tackle this problem with my own company, I've created a hypothesis: If I reach out to a thousand target customers with an extremely specific goal, I will have enough data to reach an accurate conclusion. This actually runs counter to what a few prominent startup advisors recommend. They argue that I should conduct 6-8 user interviews before even building an MVP to decide whether I'm solving a real problem first. My hypothesis is that the sample size for interviews is actually too small, and I'm better off trying to test a really important but narrow data point through a mass inquiry of my target user. I guess I now want to open up the floor to what people's thoughts are on this. Here are my starting points:
I'll be looking at three numbers:
I'd love to hear everyone's thoughts. Would you do this differently? [link] [comments]  |
| Decided to start recruiting. How to go about it? Posted: 27 Apr 2019 06:52 PM PDT So currently my company does a ~$20k/monthly revenue. Current expenses leave me with ~12k/month. Im totally swamped and have given up on doing this all on my own. My plan is to continue using my contractors for a while and train interns in house, with a 3 month training program, and if i like them, offer them a job at the end of the internship. Plan to pay them $30k/yr. A few things to note:
So i've got interviews lined up next week. Main questions are:
I would appreciate feedback very much. [link] [comments]  |
| Working 2 jobs - first member of a start up, what should I be asking for? Posted: 27 Apr 2019 12:21 PM PDT Long story short the company that I currently work for, One of the board members has asked me to potentially start a new company with them. Currently I would be working two jobs one for my current company and the second for the start up. We have a big proposal due next month in Texas and I am currently the only one working on the project. (B2b e business, unprecedented in my region) I was just wondering what I should really be asking for I have been asked to log my hours but I haven't been paid yet for my work for the start up. I think my first company is completely fine with me potentially transitioning into this new start up company and they're both in the similar field and would be benefitting each other. I just wanted to ask how should I go about potentially staking my claim in this new start up that they have created. Currently I am working five different positions for the start up company ( client liaison, chief developer, business development associate, etc). The reason I was practice because I had a wealth of skills and the boardmember noticed my potential. If we do end up potentially getting funding I was just wondering what I should go about it asking to stake my position in this company as I am the only one currently working for it. The idea was definitely not mine but all the work definitely is. I would love to use this to propel my career upwards but just wondering how I should go about it. Thanks in advance any advice is appreciated. Sorry for the bad English [link] [comments]  |
| Posted: 27 Apr 2019 07:37 AM PDT So in Dec 2018 I shared my business prototype with a old coworker and we decided to go into business together. He brought on a mutual developer friend. We all decided to even split the equity of the company. It is now end of april 2019 and i still have nothing in writing plus we are developing my prototype into a more stable product. My old coworker is claiming to be the ceo and created the LLC, when i ask about it he says the llc is still pending. I check the state's registry for the LLC name and i find it. So the question i have is, IWant to put a hold on any further production to ensure the equity share is fair and not the coworker trying to blow smoke up our asses and trying to take it all. Is there something i can do, legally, to get my share? I have all of my emails showing i provided the prototype, the mockups, some initial customers, and the industry knowledge. What would you do? [link] [comments]  |
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