For customer interviews we have a rule of thumb that if an hour or research saves a minute early in the conversation it’s a good investment. When you look at the list of questions you have prepared to learn about the prospect’s business and their needs, it’s easy to say to yourself, “I am really […]
Customer Interviews: Spend an Hour to Save a Minute Read More »
In a candid discussion about the challenges of managing your own expectations for a minimum viable product (MVP), Tristan Kromer observed, “It’s psychologically hard to enthusiastically proceed with skepticism.” And that is the challenge, we have to be enthusiastic about our product ideas to persevere to complete them and tell others about them, but we have to
Minimum Viable Product: Enthusiastically Proceed Skeptically Read More »
While truly new markets have no history, their business model parameters can be estimated by what they replace or substitute for.
Q: How Do I Calculate Business Model Parameters For A Novel Product? Read More »
I like this 2009 video by Grasshopper “Entrepreneurs Can Change The World” that portrays the entrepreneur as a change agent and celebrates the freedom and economic opportunities that America has traditionally offered immigrants.
An Entrepreneur Is A Change Agent Read More »
We Happy Few The fewer men, the greater share of honour. […] We few, we happy few, we band of brothers; Henry V in Act IV Scene iii 18–67. “St. Crispin’s Day speech” A college kid in a dorm room starts assembling and selling person computers.. Two college dropouts–or recent graduates–start building hardware in a
Few Against Many Requires Focus and Perseverance Read More »
It’s hard work not passive income that allows you to find your life purpose. I make a distinction between wanting to move beyond running a services business where you bill by the hour to either selling results or selling a product and entrepreneurs attracted to the passive income fantasies of the “Four Hour Work Week.”
Michael Ellsberg: Four Reasons Why Passive Income Is a Destructive Fantasy Read More »
In the last eight years I have moderated several hundred Bootstrappers Breakfasts. After doing a hundred or so and working with many clients who were bootstrapping I came up with a checklist for common mistakes bootstrappers and bootstrapping teams make in their first year or so.
Ten Mistakes Early Stage Bootstrappers Often Make Read More »
We work with several teams who have launched or are launching an application that makes a team or group more productive. Here are a couple of suggestions for things to consider. Be compatible with the status quo if at all possible Collaboration or workflow applications that require at least two people to adopt in order
A Simple Checklist for Introducing a Collaboration Application Read More »
If you want to be a succeed as a bootstrapper, start with what you’ve got: you have an insight into an opportunity, a marketing edge, a particular problem where you’re going to bring distinctive value.
Successful Bootstrappers Are Trustworthy Salespeople Committed to Customer Satisfaction Read More »
Shared trust and integrity form the basis for the key resource in a bootstrapping startup: morale. Founders must foster actions and behaviors that build trust in the early days if they hope to create a startup with a culture that will enable it to prosper.
Ten Principles for Trust and Integrity from Adventures in Missions Read More »
Don’t do a big launch before you have completed customer discovery or you are running a very expensive test of your key customer and market hypotheses.
Q: Can We Launch First and Ask Customer Discovery Questions Later? Read More »
Without a revenue hypothesis your business model is just a list of activities users are engaging in. You need to map customer actions to revenue and costs.
Without A Revenue Hypothesis Your Business Model Is a List of User Activities Read More »
Some startups just “go for it” and pursue their vision without any real strategy. In the same way that the losers are never interviewed after after the lottery numbers are announced, press and pundits draw startup lessons by restricting their focus to the winners. It’s bullshit.
Feeling Lucky Is Not a Strategy Read More »
The video from my “What is Lean–Lean Innovation 101” talk is up: Here is the description for the talk “Lean” provides a scientific approach for creating a product and developing new businesses. Teams can iteratively building products or services to meet the needs of early customers by adopting a combination of customer development, business-hypothesis-driven experimentation
Video from Lean Innovation 101 Talk at SF Bay ACM Nov-20-2013 Read More »
Five financial mistakes bootstrappers can avoid include financing with credit cards or high interest loans and taking on long term financial commitments like a lease or an employee too early.
Five Serious Financial Mistakes Bootstrappers Can Avoid Read More »
Let’s face it, finding customers can be quite a challenge. In this interactive workshop, we will cover a variety of proven marketing techniques for growing your business: attendees will select one or two that fit their style and develop a plan to implement them in their business in the next 90 days. Speaking – small
Getting More Customers Workshop on March 25, 2014 Read More »
Q: I have worked as a manager in corporate IT for many years, saved my money, and now have an idea for a new product. I need a plan to go from essentially nothing but the idea to building an organization that can support a service-first or concierge MVP and the metrics in place to
The difference between a hypothesis and an assumption is that the first is typically explicit and the second implicit. A hypothesis is what you are testing explicitly in an experiment. An assumption is tested implicitly. By making your assumptions and hypotheses explicit, you increase the clarity of your approach and the chance for learning.
Difference Between a Hypothesis and an Assumption Read More »
It can be difficult to put a price on a new product service, much less to develop a pricing model you can use to offer pricing to many different prospects. Here are some tips.
Q: How To Pull The Trigger On A Pricing Model Read More »
Justin Kan (@JustinKan) wrote “Startups Don’t Die, They Commit Suicide” in 2011″ (mirrored on his blog here) reflecting on what he had observed and learned as a serial entrepreneur. It was reposted on the Philly Startup Leaders list earlier this week which led me to write the following comments mixed with excerpts from Kan’s post.
The Likely Consequences of Entrepreneurship Require Perseverance Read More »
