The Secret Power of Three
In a post I wrote, How to Be a Successful Entrepreneur, I tried to summarise some business theories about entrepreneurship. But I felt that I am not really getting to the point. The point is, in order to succeed in entrepreneurship, you need to answer these three questions: Why, How, What. This has been said so many times, but really this distills business strategy.
WHY: Why do you want to do this? What is the problem to solve? What is the opportunity?
HOW: After having clear idea bout the problem and the opportunity, do you know how to execute? Do you have the skills and resources?
WHAT: What is the solution you propose that can be implemented with your resources and skills?
A friend of mine came up with an alternative formulation: The Three "Whys". Why this? Why us? Why now? This also contains very powerful elements of strategy. This basically means:
WHY THIS: What is the problem?
WHY US: Do we have the skills and resources to solve this problem?
WHY NOW: Is this the right opportunity in terms product / market fit?