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Ditch the business plan and when assumptions are proven wrong, pivot CustomerDevelopment: Build a product your customers want (vs. what you think they might need) by talking to customers and testing every aspect of the product features, pricing, etc. AgileDevelopment: launch an MVP early and iterate quickly.
Provide early seedcapital, and be the ones to make those introductions. And do your customerdevelopment. Thank you @ericries for drastically altering my perception of agile startup Thank you all so much for your kind words. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup?
Risk capital has emerged in China, India and other countries where risk taking, innovation and liquidity is encouraged, on a scale previously only seen in the U.S. The emergence of incubators and super angels have dramatically expanded the sources of seedcapital. Entrepreneurship as It’s Own Management Science.
A unicorn is a startup with a market capitalization north of a billion dollars. What this means is that the emergence of incubators and super angels have dramatically expanded the sources of seedcapital. VCs have now ceded more control to founders. We now have specific management tools to grow startups.
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