Here's your second lesson on Developing Your Vision...

Now let's think about a series of these vision pies over time to create a stack of them with a pie for each of the following three to five years (see below). With each additional year, the vision will contain less detail and the current probability of being right diminishes greatly. This is what I call the 'Vision Cone'.

Every vision needs actual validation in the real world for virtually all its elements. Certainly, the ones that have not been done EXACTLY that way before, and have not had great success, are a significant risk and deserve special testing in ways that will not disrupt the business if they fail. This testing is known as actively managing the risks, something any CEO should be doing. I have a separate system on this later.

Most venture capitalists insist on a 'seasoned' CEO at the helm of a new company; someone who, based on many years of experience, can actually run these 'vision simulations' or business models in their head. Many things can cause a business to fail. Even small things that fail to work because of typical personality types in certain jobs can delay or prevent a business from being successful. Only a significant amount of real-world experience can reduce this risk.

Tomorrow's lesson will go over how to implement your vision...

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