The Lean Entrepreneur: How Visionaries Create Products, Innovate with New Ventures, and Disrupt Markets by Brant CooperWhen you are not learning you are not being a Lean Entrepreneur. Startups have to keep searching for the sufficient Product - Market fit and adapt/transform until it is reached.
Some interesting ideas and takeaways but generally not revolutionary book, also should had read the Lean Startup before that one most probably.
“A Start Up is an institution designed to thrive in the soil of extreme uncertainty”
Driving forces to starting a new business:
*Segment—you want to bring any kind of product for a specific group (or groups) of people.
*Problem—you want to solve a particular issue or address a specific passion.
*Product—you have a singular product vision.
*Technology—you have an invention you wish to productize.
*Sales Channel—you are great at selling or are committed to e-commerce.
…the process of segmenting your market is one of the most poorly understood concepts in today’s business startup world, yet as we can see, it is one of the most powerful
Customer value stream lifecycle:
1. Customer becomes aware of your product
2. After learning more about the product, they become trusting
3. Next, they become convinced and buy the product
4. After purchase, they are hopeful they have bought the right product for their need
5. After some use of the product, they become satisfied
6. With help from the company, they become passionate users of the product
By mapping the funnel, you are forced to think through one buying cycle completely for one market segment. Related activities for each step become rather self-evident and act to flesh out your marketing and sales plan and provide additional aspects to test
First master the process of turning your initial customers into passionate customers. Next, you work on automating the movement of customers through the marketing funnel. Lastly, you do marketing activities to get as many people into the top of the funnel as possible. Learn how to master the conversion process before spending money to attract large numbers of customers.
Lean Entrepreneur: How Visionaries Create Products, Innovate with New Ventures, & Disrupt Markets
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Please type in your email address in order to receive an email with instructions on how to reset your password. You are not a Visionary. The Lean Entrepreneur shows you how to become one. Most of us believe entrepreneurial visionaries are born, not made. Our media glorify business outliers like Bezos, Branson, Gates, and Jobs as heroes with X-ray vision who can look to the future, see clearly what will be, imagine a fully formed product or experience, and then simply make the vision real. Many in our entrepreneur community still believe that to be visionary, we must merely execute on a seemingly good idea and ignore all doubt.
You are currently using the site but have requested a page in the site. Would you like to change to the site? The Lean Entrepreneur, Second Edition banishes the "Myth of the Visionary" and shows you how you can implement proven, actionable techniques to create products and disrupt existing markets on your way to entrepreneurial success. The follow-up to the New York Times bestseller, this great guide combines the concepts of customer insight, rapid experimentation, and actionable data from the Lean Startup methodology to allow individuals, teams, or even entire companies to solve problems, create value, and ramp up their vision quickly and efficiently. The belief that innovative outliers like Steve Jobs and Bill Gates have some super-human ability to envision the future and build innovative products to meet needs that have yet to arise is a fallacy that too many fall prey to. This 'Myth of the Visionary' does nothing but get in the way of talented managers, investors, innovators, and entrepreneurs.
Most of us believe entrepreneurial visionaries are born, not made. Our media glorify business outliers like Bezos, Branson, Gates, and Jobs as heroes with X-ray vision who can look to the future, see clearly what will be, imagine a fully formed product or experience and then, simply make the vision real. Many in our entrepreneur community still believe that to be visionary, we must merely execute on a seemingly good idea and ignore all doubt. With this mindset, companies build doomed products in a vacuum; enterprises make ill-fated innovation investment decisions; and employees and shareholders come along for an uncomfortable ride. Falling prey to the Myth of the Visionary confuses talented entrepreneurs, product managers, innovators and investors.