That's why there is no ONE route, guide book, playbook, piece of big data, or compass an entrepreneur can get a definitive direction from.
The combination of all of the following will help entrepreneurs find their path:
- Gut instinct - Trusting your sixth sense will help drive your decisions quicker.
- Data Analysis - Assessing both historical and proxy data can provide "guesstimates" for your decisions.
- Customer Validation - Ask, learn and create for your buyers and users. They can serve as a big part of your startup compass.
- Tools - Modeling techniques such as weighted probabilities and decision trees can add a structured component to driving your company.
- Resources - Online and offline, there are best practices that you can leverage so you don't reinvent the wheel.
- Mentorship - Find one ASAP. Generally, the more informal the better, as it is most successful when you have not only an experienced mentor, but a friend.
Tell us how you make your decisions in the comments below? What do you use as your startup compass?