Incomplete Ideas

Using margin of safety to refine your ideas

We often assume that starting a company begins with a complete idea—one so fully formed that it allows you to jump straight into a state of perfection. As much as we wish this were true, it usually never is.

Innovation happens in spaces. Execution and product–market fit happen in stages over time until you realize the fit is strong enough to move to the next phase. I say “strong enough” because I don’t believe product–market fit can ever be perfect. There will never be a fully satisfied customer, and the very idea that you can perfect something in a world of constant change is unrealistic. The goal is to have enough fit to move on to the next stage: growth and profitability. And to sustain or improve that level of fitness indefinitely.

But what does it look like between idea and product–market fit? This is a world of constant tinkering: testing new ideas, working with trusted customers for feedback, offering new products, forming new partnerships, refining your brand, and adjusting your mission as you encounter new realities. I can’t explain this stage in one word, but I think the best two are: productive chaos.