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#StartUpSeason - Business Plan Basics
Transcript of #StartUpSeason - Business Plan Basics
'Lean thinking defines value as providing benefit to the customer; anything else is waste.'
'This is one of the most important lessons of the scientific method: if you cannot fail, you cannot learn.'
'The two most important assumptions entrepreneurs make are what I call the value hypothesis and the growth hypothesis.'
'What differentiates the success stories from the failures is that successful entrepreneurs had the foresight, the ability, and the tools to discover which parts of their plans were working brilliantly and which were misguided,
and adapt their strategies accordingly.'
A lean read of the Lean Startup:
the five key paragraphs
Read the rest: http://j.mp/LeanStartUpAmz
Be clear about the who, what, when, where and why
Use the canvas and the paper folding exercise
Test it out with others
Does your grandmother (or nearest equivalent) understand it? Cut the jargon and temper the wild assumptions. You'll be surprised how useful this test is.
Ready for the next stage?
Get an advisory board - 3-4 highly diverse people who are not afraid to challenge you - and then
go make it happen.
Good luck - and thanks.
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Now, is it niche enough?
Try the paper folding exercise: http://bit.ly/paperfoldingsegment