Company
Date Published
Author
Neal Taparia
Word count
1254
Language
English
Hacker News points
None

Summary

"What's next?" is a question that entrepreneurs often ask themselves when they've seen initial traction with their company. However, launching multiple streams of revenue can be detrimental to the core business, as it can divert time and resources away from what was initially successful. Before bringing a new offering to market, entrepreneurs should consider five key questions: Is the idea big enough to matter? Can the product be tested leanly and quickly to determine viability? What sets the new idea apart from existing products in the space? What is the opportunity cost of pursuing this new idea, considering resources that could be spent on the core business? Finally, how will success and failure be measured, and are there clear expectations for achieving those outcomes.