Map the customer buying process, needs, and situation before you invest time sending a detailed proposal. A quick request can mean you are column fodder. Q: We are still trying to close our first paying customer. We have a website up and have talked to a number of people. More or less out of the blue […]
Map Customer Buying Process Before Sending a Proposal Read More »
Successful entrepreneurs are fueled by a passion to change the world tempered by prudent risk taking. Many risks have to be managed on an ongoing basis.
Entrepreneurs Blend Passion and Prudent Risk Taking Read More »
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 »
Successful bootstrappers are open to possibilities, including mistakes. Their focus and perseverance to explore many options but say yes to only a few.
Few Against Many Requires Focus and Perseverance Read More »
It’s not a mistake to accept venture capital if your business merits and requires it for growth. Don’t get distracted seeking it until then. “The seductive narrative of Silicon Valley stars a genius-hero who goes on a journey, overcomes myriad obstacles, has a flash of insight and is rewarded by wise and benevolent investors with
Don’t Get Distracted Raising Venture Capital Read More »
I found Janet Iwasa‘s Ted Talk on “how animations can help scientists test a hypothesis” to be extremely thought provoking. It’s worth considering how to animate your hypothesis to explore it’s viability and implications.
Janet Iwasa: Animate Your Hypothesis to Explore Its Viability and Implications Read More »
Identify what is unlikely to change: e.g. problem area, type of customer. Build on experience. Join communities that focus on these.
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 »
Cultivating mindfulness requires you to maintain situational awareness and realize when your reflexes may trigger a reaction that is not as thoughtful as the situation requires.
Cultivating Mindfulness Read More »
SKMurphy’s Startup Stages: Idea, Open for Business, Early Customers, Finding Your Niche, and Scaling Up also map to Survive, Explore, Focus, Refine, and Grow.
Startup Stages: Survive, Explore, Focus, Refine, Grow Read More »
A collection of humorous tools that generate buzzword compliant business models.
Tools for Buzzword Compliant Business Models Read More »
Product-market fit is not a ratchet: competitive response, new entrants, changes in technology and customer preference require ongoing customer development. You will need to continue to do customer development–and customer discovery for that matter–even after you have a first prototype, an MVP, early customers, and an established niche. Markets and competitors don’t stand still, no
Q: We Already Have a Prototype, Can We Still Do Customer Development? Read More »
John Gardner outlines how leaders detect and act on weak signals of the future by looking beyond the horizon and planning for renewal.
John Gardner: Leaders Detect and Act on the Weak Signals of the Future Read More »
I believe that Patrick Steyaert’s Discovery Kanban offers a critical perspective on how large organizations can cultivate lean innovation methods for product delivery beyond isolated spike efforts or innovation colonies.
Discovery Kanban Allows Firms to Balance Delivery and Discovery 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 »
