Mental model #1: How to make right business decisions when stakes are high

At startups, decisions seem super scary because you are well aware of the stakes and the run rate. Startups lack time and money. Decisions are required with speed and accuracy. This is where mental models can come into play. One of my favourite mental models is Charlie Munger's "Inversion". Basically, imagine the polar opposite of what you want to achieve and compare those methods. For example: - You want to promote a baby shopping app to parents with multiple children. Inversion: - - What baby shopping ad do parents hate? - What do parents hate in baby shopping apps? - What makes parents leave the app? Then, just compare these ideas with "normal" ideas that you had to successfully promote the app. This is where you might find room to innovate and try something new. It sounds simple, but you might be surprised by how often you’ll notice a roadblock you otherwise wouldn’t have. Inverting a problem isn’t always going to solve it, but it will help you avoid unnecessary missteps along the way.