"When entrepreneurs come to me with that “million dollar idea,” I have to tell them that an idea alone is really worth nothing. It’s all about the execution, and investors invest in the people who can execute, or even better, have a history of successful execution. Execution is making things happen, and for startups it usually means making change happen, which is even more difficult."
Startups. We know the mantra: Team matters. Is this philosophy exaggerated? Overrated? Cliché? No. Team is the only thing that matters. Whatever you’re working on now it’s irrelevant unless you continue rapid innovation.
Ever had the desire to change something on your website, but you were afraid the change might have a negative impact on performance? Welcome to A/B Split testing, the practice of testing multiple variations of the same site to see which works better.
"The goal of Lean Startup isn’t to slow you down, but it is designed to make you think critically about what you’re doing and amass (some form of) proof that you’re heading in the right direction before barreling ahead. Those that go through the early customer development and Lean Startup process may feel paralyzed or derailed for a bit, but they come out the other end with a much clearer picture of where to run. And then, you run. As fast as you can."
"Those that need entrepreneurship education are nascent entrepreneurs—those thinking about starting a business and going through some of the early motions. However, standard entrepreneurship courses target new business owners—typically not the students sitting in the seats. Nascent entrepreneurs can, of course, progress into new business owners, but we are not paying enough attention to these prospective entrepreneurs. If anything, traditional entrepreneurship education is scaring them away as opposed to unleashing their potential. Why? Blame the business plan."
I didn't invent this method, I first learned about it in the book "Four hour work week" of Tim Ferriss. In this article, I will explain the method and add some practical tips to it based on my own experience.
Practicing good nutrition keeps your mind sharp, your body fit, and your life long. The same could be said for consuming media. (Seriously, knowledge is power.) When you add it all up, the average American spends roughly nine hours a day glued to some kind of screen, and like your diet, quality is as important as quantity.
1) Problems don’t exist. You can’t go out and talk to a problem. Focus relentlessly on people. 2) Cash in hand beats bullshit on slide. A pretty powerpoint isn’t impressive. Go get a real customer to hand you money.3) If your teammates don’t buy in, then test fast and let reality convince them. You’re not going to win by arguing, you’ll just wind up working alone.
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