One of my major difficulties is that I make things too complicated. This leads to things becoming hard to explain, hard to debug and hard to really figure out the expertise around. A good business needs to at the end of the day be hyper focused on one thing and one thing only and the entire team needs to focus on innovating on that one thing.
I screwed up with Primitive I started with a kernel and added too many features to it. I got stuck because the idea was too big and I did not know how or where to execute. This is a problem because when there are too many parts it is hard to communicate to another group what you are tying to do.
It is actually better to simplify, simplify and simplify. Be a big fish in a very small pond. You May have aspiration to swim in the Olympics but you need to swim in the shallow end first. This is my mistake and I think where a lot of businesses get in trouble. You can be vertically integrated in terms of Porter’s Competitive Strategy but you need to get there over time. It is not something that you do immediately.
So the best way is describing a Value Proposition as simply as possible:
Basically, these three describe what they do and how they are going to do it and it should explain what value we are providing. This value should of course be tested but we will of course need to test it as a product market fit.
Basically you should be able to explain what you are doing. This will be important for everyone because you provide your value upfront and you can explain it to others.