Explore vs Execute | A Smart Bear
The two main business modalities are more different than you expect. When you hit PMF, it’s a culture-shift to switch from one to the other.
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So, what needs to be done? A radical shift in working style, from “Explore” to “Execute”:
Explore
Figuring out what works, as quickly and flexibly as possible.Execute
Becoming excellent at doing what works, while scaling.
Explore vs Execute #
Explore Execute experiment → standardize fail fast → fail never speed → reliability creativity → stability learning → leveraging gathering evidence → data extrapolation manual labor → automation discontinuous jumps → continuous optimization question assumptions → leverage assumptions short-term tactical planning → long-term strategic planning new → valuable
Before Product/Market Fit, you’re figuring out what works. That means answering questions like:
- Who is the perfect customer?
- Why aren’t all of them buying?
- What is the best niche?
- Which few features make them buy?
- What makes them want to buy?
- What is delightful?
- What distribution channel will work?
- What makes us different?
- What does the customer value?
- What is the customer trying to accomplish?
- What is the right price?
- What are our biggest risks?
- How do we avoid the obvious fatal mistakes?
After Product/Market Fit, that list of questions have been answered.
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The “Execute” modality is required to answer the new challenges: