A version of this essay was published as part of my monthly newsletter a couple weeks back. Find other archives and join here to get updates like this first.
Every company is an approach to answering some question. (Every nonprofit might be a policy failure.)
Many mistakes are made in choosing that question: it might be too ambitious, or too unambitious. It could be too niche, or not focused enough. The true addressable market might be too small. The question may not be a lasting one. You can ask a question too early or too late, with the wrong leadership, team or product. Some of that can be changed by a good team, so along the company-building journey, you must change your approach.
But don’t change the question.