Tesla Connections to Sports Tinder App
Hook:
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A common thing with young entrepreneurs like all of us, is we enter very foreign markets
hoping to project a successful product
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Like how Elon Musk entered the automobile market with a completely different
background,
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all of us are entering markets that we've never really touched

app, camp and Katherine are doing a sneaker, and Robert and David are doing a bug net.

Markets we’ve never really touched
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like Elon, we are also facing a lot of risks, and
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tackling them all at once can be pretty overwhelming, and
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can cause us to waste resources on risks that aren’t necessarily urgent

Keep in mind that continuous innovation, the process we’re learning about,
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isn't about tackling all your risks at once, but more so
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focusing on your riskiest assumptions.
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It’s important to prioritize these riskiest assumptions, and

you can do this by separating your risks into starting risks and later stage risks.

Many of the risks we think of when we’re brainstorming business ideas for example, fall
into this later stage category.
Tesla’s Risks

For example, when Tesla started up, they were facing the problem of how to convince a
gas car owner to switch to an electric car.

So, they focused on building a better battery.

If they built a car all by themselves at the same time while they were developing a
battery, they would be hit with:
o Managing a factory
o Investing in service centers, retail centers, and charging stations
o Quality assurance

And this is during a time where Tesla doesn’t even know if their battery technology
works.

Tackling all these risks could have been overwhelming and could’ve caused them to
waste time and valuable resources in the wrong places.

Tesla seeing this, made their minimum viable product, their battery technology.

They prioritized perfecting their battery and licensed another car to use with their battery.
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They even made the car expensive so that their orders would be limited,
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So, what did this essentially do?

For One: This removed their responsibilities to design a car and manage a factory.
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Two: They could test their product in the market at a relatively low scale.
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Three: They were able to deal with their later stage risks when they were ready and had
perfected their battery technology.

Tesla wanted to give themselves room so they could get their product right before
approaching scale, thus they followed this strategy of prioritizing their riskiest
assumption.

If you think about it, if they had used a cheaper car to begin with, it would have brought
all of those later stage risks back
Our Risks

Now looking at our app, which is basically tinder but for finding people to play sports
with.
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Our problem is to figure out how to get people to start using the app

Essentially, we need to find a customer base, as our whole business model works only if
we have people to interact with each other.

If we think about the risks we might encounter, developing a Functional App,
Maintaining Servers, figuring out how to get a Revenue Stream, and Hiring Coders come
to mind.

but, if we can't get people on our app or get people interested in using it, what's the point
of buying servers to run our app or buying licensing for our app, or even hiring coders to
make a software no one will use. Instead we should focus on what our riskiest assumption
would be and we should prioritize that

Since we are trying to find and gather people to use the app, we should prioritize creating
a working model with people. Then we can then proceed with developing an actual app
for them to use.

It wouldn’t make sense to make the app and then find people to use it. We’d be wasting
resources as the wrong time.
Conclusion:
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All in all, what Tesla essentially did in this case study was focus on their first sale rather
than their 1000th one or their 1 millionth one.

That way you focus on your actual starting risks when starting up and worry about your
later stage risks when you begin scaling
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Prioritizing your riskiest assumption can help uncover a faster way for moving any idea
forward at the right pace
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So remember, prioritize your riskiest assumption