Why are some ventures more successful than others?
What are dangers of executing a strategy without understanding customer needs first?
Ex: Webvan. Executed well by expanding operations and infrastructure, but there were gaps in
understanding what custome
1) How to make a start up
a) 2 to 3% of startup companies raise money
b) Entrepreneurship is a process of growing a business
c) Need to know if your start up is a real business
2) Business models
a) Rationale of how organization creates, deliv
1. Major types of customer segments and how to reach them
2. Early adopters
a. Actively looking for solutions to problems; product does not need to be perfect
b. Focus on them as problem-solving organization because it will match effor
1. Why is there a low startup rate?
a. Scarce funding
i. difficult to raise money from institutions
ii. better ways to get started than borrow from bank
b. Increasing regulatory burdens
i. new regulations, many forms, tax laws
c. Cultural chan
Where do great ideas from startups come from? Copying other firms, being innovative (brand new ideas)
How do startups capitalize on these ideas in order to grow?
Types of opportunities to pursure:
-Excess resources: turning shipping co
1. Art of Bootstrapping
a. Using own personal finances or revenues of company; puts strain on
2. Business Model Elements (know the canvas)
a. Revenue-monetize startup
i. Customer relationships, customer segment (for whom are we creating