Description
Entrepreneurship is Awesome
Entrepreneurs please Stop wasting people's time !!!
Entrepreneurship is Awesome
It's the best time in the history of the world to be an entrepreneur because :
1- Costs are falling in all industries.
2- Barriers are being destroyed.
3- Disruption and chaos are everywhere.
Why build a startup?
Only entrepreneurship combines these three elements:
1- Change the world
2- Build an organization of lasting value
3- Make customers' lives better
What is a startup?
• A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.
• Nothing to do with size of company, sector of the economy, or industry.
• Startup = Experiment
Entrepreneurship is Management :
• Our goal is to create an institution, not just a product.
• Traditional management practices fail.
• Need practices and principles geared to the startup context of extreme uncertainty.
• Not just for "tow guys in a garage"
The Pivot
- What do successful startups have in common?
- They started out as digital cash PDAs, but evolved into online payments for eBay.
- They started building BASIC interpreters, but evolved into the world's largest operating systems monopoly.
- They were shocked to discover their online games company was actually a photo-sharing site.
- Pivot : change directions but stay grounded in what we've learned.
Speed Wins
- If we can reduce the time between pivots, We can increase our odds of success Before we run out of money.
Categories: Business & Management