Tag: Entrepreneurship

When a business idea strikes and it begins to take shape with a few notes written on a napkin, entrepreneurs have a vision of where they want to go with these ideas. While entrepreneurs might have somewhat of a plan hashed out as to how to reach their dreams, the path is never a straight line. It is very likely the idea, the market, and even the customer base will change and evolve into something that was never part of the original plan. Throughout his book, The Lean Startup, Eric Ries makes the argument that startups do not know who their customers are until they start offering products or services and learning from these interactions (2011). The argument is not very clear until reading his thoughts on accountability and the decision of whether to pivot or persevere. Continue reading “Tuning The Engine: Accountability & Pivots”

Discussions about startups that achieved tremendous success usually turn to organizations such as Amazon, Google, Facebook or other renown businesses. While these organizations are great examples of success, many new entrepreneurs fail to capture the true lessons to be learned from these businesses. Entrepreneurs should focus on approaches and factors within these organizations rather than analyzing specific practices. In Part Two of The Lean Startup, Eric Ries makes the argument that each startup faces a unique set of circumstances and should conduct market and product experiments reflecting their own situations (2011, p. 80). Ries also introduces minimum viable products (MVPs) as a means to obtain valuable insight about a product and its potential for growth and value. Other leaders such as Matt Blumberg, agree with Ries and offer additional insight on both of these ideas. Continue reading “Test Driving Products for Deeper Insights”