You might have an idea, but what if someone already had it and was doing it? What if worse, someone has been doing it so well that they dominated the market? Can you really take market share away from the competitions?
Steve Blank lays out the reference to the New Lanchester Strategy in his book The Four Steps to the Epiphany. These are of course I think by no means, a 100% strict and accurate formula for choosing markets to enter, but I think it’s very valuable in terms of a reference: Continue reading
I’ve learned a lot at the second week’s lecture and with doing the assignments.
The topic is on Research and Customer Development, which I think is the most important topic for entrepreneurship, as the #1 reason startups fail is they build a product that nobody wants. Good groundwork in this phase of the business can really make a difference.
To summarize the most important learning: Continue reading
Some business are free but still turns out successful, while other business will be doomed to fail over a freemium model. What makes a freemium model, or subscription model, or money upfront work?
It’s helpful to categorize businesses into three categories: Continue reading