How do you decide what project to invest in? Profit / Loss potential, business plan, Magic 8 Ball?
For every project you choose to build, you commit time and money. Sometimes you can’t get out of the project for years, so selecting the right project is extremely important.
Much like in baseball, there are a lot of ways to score a point.
- You can go for the homerun at the risk of striking out by investing all your time and money on one big product.
- You can reduce your risks with smaller projects. Building your points one base at a time.
- You can aim for anything in between. A double while trying to hit a homerun or a triple trying to hit first base. You can’t predict what’s going to happen.
Your motivation and desire to succeed will change. Commitment on a project can be a curse. Having struck out with Flagback, I now look for the smallest, most valuable projects. What’s your approach?