Simulating your business decisions is a lot faster, cheaper, and less risky than running the experiment in real-time in the real world. So, before you launch a paid membership community, it’s a good idea to create a model in order to understand the conditions under which it can be financially viable and, thus, sustainable.

All models are wrong—many are useful. Formal models help make our assumptions explicit and, consequently, testable. The act of modeling […]