TOP 5 BUSINESS STARTUP LAWS.
Top 5 STARTUP LAWS.
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Have an Startup Idea? You're on the right platform. [/caption]I thought that I should organize the theories and laws related to startups that I had picked up here and there.
Today, I would like to take some time to put this together.
ULZZANG KOREA :
1.HENRICH'S STARTUP LAW :
Heinrich's law, also called the 1:29:300 rule, is a statistical law discovered by Herbert Heinrich, who was working in the loss control department of an American insurance company while analyzing about 5,000 accidents.
When one major accident occurred, there had already been 29 similar but minor accidents and 300 minor accidents or anomalies. In other words, before a major event occurs, there are already numerous foreshadowing,
The only way to prevent accidents is to read these warning signs carefully. In this respect, Heinrich's Law is similar to the <Broken Windows Law>, which states that 'If you leave broken windows unattended, it leads to bigger problems.
As such, in general, Heinrich's Law is often cited when industrial accidents or accidents occur, but there are also quite a few people who are trying to apply Heinrich's Law from a business perspective. Especially in the case of startups, startup laws and to read these signs carefully is more important before one big accident or mistake can affect the existence of a service or business. Know more about HENRICH'S LAW. CLICK HERE.
So shouldn't we be more delicately focused on what's going on around us?
"Intellectuals solve problems, geniuses prevent problems" (Albert Einstein)
2.ANNA KARENINA'S LAW :
<Anna Karenina's Law>, inspired by the first sentence of Tolstoy's novel <Anna Karenina>, "All happy families are alike, and unhappy families are different for different reasons."This is a theory that an American scientist, Professor Jared Diamond, mentioned in his book <Guns, Germs, and Steel> and talked about among people.
Quoting Tolstoy's expression, he explained that among many animals, domesticated animals usually meet similar requirements, but non-domesticated animals have different reasons.Some people who have seen this claim that his argument is consistent in the business realm as well.Simply put, as the novel expresses, successful entrepreneurs or companies share a lot in common, but there are different reasons for failed entrepreneurs or startups.
Although they may look similar on the surface, there are quite a few objections such as 'Even successful companies are different if you look at them from each point of view'.However, the point to pay attention to here is not the 'vague conclusion' that successful people have a lot in common and unsuccessful people are different.
Why not take a closer look at why, specifically, how the failure cases differ, like Jeremy Diamond?
This is because, in the case of a mistake or failure, the process of concretely reproducing it is painful, so there are many cases of simply conceptualising it or blaming others.Then you lose the opportunity to learn from that valuable failure even yourself.
This makes it impossible to capitalise on failures or processes. So, in case of failure, wouldn't it be necessary to deliberately take a more specific approach?
2.THE TEN THOUSAND EXPERIMENT RULE :
This rule plays an important rule in the chart of Start up Law. You've probably heard of Malcolm Gladwell's 10,000-hour rule.
There has been a lot of controversy over whether this '10,000-hour rule' is right or wrong.
In fact, the author of the study Malcolm Gladwell argues for has even formally challenged the 10,000-hour rule.
That's the 10,000 'experiment' rule. As the name suggests, this theory says that 'accumulation of experiments' is more important than simple 'accumulation of time'.
In particular, the infinite repetition of the process of hypothesis -> verification -> revision (new hypothesis) -> re-validation is similar to the existing lean startup methodology. However, proponents of the 10,000 experiment rule claim that the core of this theory is not simply to accumulate experiments, but to collect vast amounts of data and make decisions based on that data through infinite experiments close to 10,000 times.
“What is unique about Amazon is a failure.”
"We are failing endlessly"
"But failure and invention are the relationships between thread and needle"
"In order to invent, you must experiment"
"Most large companies appreciate new ideas, but"
"I'm not very tolerant of failed experiments"
"Because most experiments fail."
"But if you swing the bat hard"
“Most of them might be strikes, but there’s a good chance they’ll hit a home run.”
(Jeff Bezos)
It also analyzes that companies with infinite failure and experimentation environments such as Pixar and Amazon have no choice but to make better decisions because they make decisions based on more data.Maybe experiment and failure are only one letter difference, but depending on the point of view, isn't this one letter difference created by a big difference in results?
Maybe mistakes or failures are just the processes of accumulating data?
4.WETNEY'S STARTUP LAW :
The movie 'The Martian' is a desperate work that can be called a textbook of bootstrapping for startup workers. ㅠ.ㅠ
'Watney's Law', named after the main character of this movie, is a theory that world-class venture capitalist Josh Koppel man mentioned on Twitter.
To put it simply, like Mark Watney, the protagonist of the movie 'The Martian', for startups to survive, they need to develop their self-sustaining ability, such as growing potatoes (?), rather than relying too much on external support.
Of course, some argue that Watney's Law is an overly old way of thinking in an era of active venture investment like these days.
Maybe it is the basics of business to grow potatoes to eat to survive, and to plan the future systematically by calculating the amount of production and consumption? Starting a startup is good for explosive growth, but maybe it is necessary to think like Watney about how to behave to survive in a tough business ecosystem?
5.YORK'S-DADDSON'S STARTUP LAW :
It is not uncommon to find a handshake at the end of Django in Go or games.Professor Yorkes and Dodson found the cause in 'tension'.In other words, if the tension is high, judgment or decision-making ability may drop sharply.Therefore, they argued that good performance can be achieved only when an appropriate level of tension or ventilation is maintained, and this is also the case when consumers make purchases. This Law is an important part of Start up Law.
If a clerk approaches a customer forcibly and shows excessive kindness, the consumer may become nervous and counterproductive So, according to the Yorks-Daddson law, it may be a more reasonable sales method to keep customers' ventilation and tension at an appropriate level rather than providing excessive information or increasing tension.
In other words, it can be surprisingly important for a business to consider customer tensions more than you think. And for this reason, York and Dadson's Law is an integral topic in consumer behaviour lectures.
In particular, some say that it is essential to maintain an appropriate level according to this York and Dadson law when creating content such as advertisements and attracting people's attention such as sex appeal.This is a rule that reminds us of the meaning of overpaid and overpaid. Maybe a really good master is someone incredibly good at tightrope at this right time?
"The greatest virtue lies in maintaining moderation."
(Aristotle)
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