Ajay's Quest Log #1

Here's the stuff I learned this week

Author

Ajay Prakash
April 23, 2024

Hey guys!

This will be my weekly - fortnightly email that will be about the interesting updates I’ve made to my models, questions and other things I think are fascinating. I go through hours of podcasts, books, and articles so you don’t have to. The writing will be light but you can click on the links for more info

  • Model Count: 107

  • Questions Count: 47

My Updates for the Week

Tarpit ideas are shiny and exciting on the front of but often leave founders working for years on things that won’t work. These are typically consumer apps and typically have a high bar for success.

Only ~3% of free users will convert to the paid plan. If you have a free plan and a $10 per month plan - it means your average user is worth 30 cents. If you want to make $3,000 per month you need 10,000 new users each month. For someone who is starting off and trying to make it, this can be extremely onerous (especially if you’re a solopreneur) If you’re VC-backed and trying to make something huge, then a free plan can make sense - think Canva, Notion etc.

3. Who is doing this at a 12 out of 10?

I like asking myself this question as it can help me break out of my echo chamber. I think I’m doing great but then sometimes I see someone who has the gear turned to a level I didn’t even know was possible. This applies to every aspect of life!

One of my favourite things to do is to write up a document with everything important about my situation (usually my business) share it with a trusted friend and ask them to treat it like a business case study from Harvard. What would you do if you were me? It helps break out of your own thought patterns and provide new perspectives.

You can modulate your confidence or the confidence of a team member by giving them projects. Work on things that are within their scope of competence to build confidence and if you want to stop someone from getting too overconfident put them in a situation that may humble them. I took this from a Navy Seal operative and found it insightful.

6. 90% of diseases are caused by the Exposome

The Exposome is a term used to describe all the non-genetic exposures we encounter in our lifetime, starting from conception. It includes factors like diet, lifestyle, occupational and environmental exposures, and even social factors and relationships. This is most of what causes disease and it’s mostly in our control.

View everything at https://ajays.quest/

Hope this helps!

Cheers,

Ajay