Founder: do you have the three crystals
I recently came across the concept of the "three magical crystals" from a serial entrepreneur David Yang, and it resonated with me. I believe every founder should seek to develop these three "crystals" in their area of focus
I recently came across the concept of the "three magical crystals" from a serial entrepreneur David Yang, and it resonated with me. I believe every founder should seek to develop these three "crystals" in their area of focus:
1. The Knowledge of the Problem – the first crystal. You need a deep knowledge of the customer problem or needs you're addressing.
2. The Knowledge of the Technology – the second crystal. You must be skilled in the tools and technologies needed to solve that problem.
3. The Knowledge of the Channels – the third crystal. Knowing how to reach your audience and effectively communicate the value of your solution. Simply speaking, sales and distribution.
At Hello Robo, we work with various founders. Most of them excel at the first and second crystals, but really struggle with the third or simply they don’t think about the 3rd Crystal: The Knowledge of Channels.
Think of it this way: to cure an illness, a person must understand the sickness intimately, know how to create the right medicine, and be capable of delivering that medicine to the patient.
I wouldn’t recommend any entrepreneur to enter the market unless they have what you might call an "unfair market advantage" — a unique strength in all three areas.