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If You Build It Will They Come: Three Steps to Test and Validate Any Market Opportunity Hardcover – April 12, 2010
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From the Inside Flap
Why do 65 percent of new products fail? In today's hyper-competitive market, companies too often misjudge demand. They either perform too little of the necessary market research, misuse the data they do collect, or neglect to integrate their research into product development. Amazingly, many companies get their market insights during or after their product's failure. It doesn't have to be this way!
If You Build It Will They Come lays out a complete system for objectively assessing a market before you develop a product or any business idea. Whether you're in a tiny startup or a major corporation, venture capitalist and business professor Rob Adams's proven Market Validation process enables you to maximize your investment dollars while minimizing your risks.
If You Build It Will They Come helps you execute the essential actions for any new product offering. Using this book's "Ready, Aim, Fire" framework, you'll:
Evaluate product ideas
Gather the right information on competitors
Find and understand your target audience
Match product features to market demand
Utilize experts and data
Prepare the market for your product
Bring your product to market
Successful product launches often look easy in retrospect when they actually require a phenomenal amount of effort and planningand you usually don't read about the many failures. Filled with real-life examples, case studies, and practical tips, If You Build It Will They Come gives you tested tools to ensure that your work ends in a successful launch. So before you build it, get this bookand watch customers come running!
From the Back Cover
Praise for IF YOU BUILD IT WILL THEY COME?
"This book will force any entrepreneur or intrapreneur to take a brutally honest look at their planned product development and launchbefore it's too late."Curt Jackson, Director, Global Technology & Capital Management, Toppan Photomasks, Inc.
"Taking an idea or product to market is expensive and prone to failure. When we had to reconstruct our business, we rigorously adhered to Rob Adams's Market Validation process to test our new ideas. We avoided organization-killing mistakes and created products and services that our clients need, value, and are willing to pay for. The process outlined in this book will save you immeasurable amounts of time, money, and wasted effort."Eliza Evans, President and CEO, InCenter
"Whether you're sitting in your garage trying to be the next Google, or trying to extend your Fortune 1000 company's product line, this book will show you how to develop products that customers actually want."Mark McLain, CEO and cofounder, Sailpoint
"Lots of people launch new products; few earn meaningful revenues. What do those few have in common? The clear focus and discipline it takes to excel at something truly difficult. If You Build It Will They Come? lays out the not-so-obvious basics of market-focused product development and launches."Bruce Roberson, retired director, McKinsey & Company
"I've been helping companies for twenty years with the kinds of Market Validation programs described in If You Build It, Will They Come? Adams understands the power of market guidance and the practical aspects of collecting market input. This book will give you a competitive advantage during the product design phase, when it has the most impact, while avoiding costly mistakes."Peter Simon, President, Simon Management
"Adams has assembled the collective wisdom of countless product launches, executive interviews, and venture capital perspectives on how companies can efficiently deliver market-oriented products. His conclusions are compelling, but obvious; yet few companies actually do it." John Sibley Butler, Director, The Herb Kelleher Center for Entrepreneurship and The Institute for Innovation, Creativity, and Capital, The University of Texas at Austin
More About the Author
Dr. Adams is an active angel investor and board member for several start-ups, and is affiliated with numerous venture funds, several of which he started. Prior to the venture business, he was a software operating executive for two decades. Throughout his venture and operating career he has been a founder, founding investor or involved with the merger or acquisition of more than 40 companies, representing more than one billion dollars of capital, and has been involved with the launching of more than 100 products.
Prior to his appointment at the University of Texas, Adams founded Tejas Venture Partners, the second venture fund he has started. Previously he was the founder of AV Labs, a successful early stage venture fund allied with Austin Ventures, starting it after being a partner with TL Ventures. Before entering the venture business, he was a technology executive. He started his career with Lotus (NYSE: IBM), joining the company shortly after its public offering. Adams was instrumental in the development and launch of both 1-2-3 for Macintosh and Lotus Notes. He went on to be founder and CEO of Business Matters, a venture backed developer of financial modeling products and was an executive with Pervasive Software (NASDAQ: PVSW), a company he helped take public in 1997.
Adams holds a Bachelor of Science degree in Engineering from Purdue University, a Masters of Business Administration from Babson College's Olin School of Management, and a Ph.D. in Management from Capella University. He has taught at the MBA programs of The Acton School of Business, Babson College, The University of Texas at Austin, and St. Edwards University.
He is a nationally recognized expert and speaker on entrepreneurship, company and product strategy, marketing and technology issues. He recently keynoted the Inc. 500 business conference and consults for numerous Fortune 500 companies. He provides expert testimony on technology related business issues, and has consulted on economic development and early stage company development for numerous governments including Chile, Costa Rica, India, Malaysia, New Zealand, and Thailand. He has been covered in Business Week, Forbes, Fortune, Money, The New York Times, The Wall Street Journal, Washington Post, on Bloomberg Radio, Public Television, public radio's nationally syndicated "Marketplace" program, and blogs for Inc.com.
He is the author of A Good Hard Kick in the As*: Basic Training for Entrepreneurs (Random House/Crown, 2002), and is currently working on his next book, If You Build It Will They Come? Three Steps to Test and Validate Any Market Opportunity (Wiley, April 2010).
Adams is a Fellow at the IC2 Institute; a University of Texas based foundation that runs the Austin Technology Incubator, on the board of Purdue Research Park, and a volunteer with Austin's Habitat for Humanity. He is an avid downhill skier and marathoner. He was a collegiate rower and graduated from the Marine Corps' Officer Candidate School.
Top Customer Reviews
Where other business books give you theories, traits, or mentalities, this book gives you a step by step process that will tell you if your idea is ready for launch. It's in my top three business books I've read. If you get one book, get this one.
It can be used both my bootstrapping entrepreneurs and by large companies developing a new product.
That said, I wish the book had a table with the framework handy, as well as a process-chart,
and "field notes" to use while executing on the market validation.
Notice how the reviews for this book are coming from Austin, where the author is based.
Silicon Valleys entrepreneurs should read it too before taking on VC money. ;)
The focus on keeping perspective (not deluding yourself) and on failing early are appreciated. There is always a tension between persistence and knowing when a project/product is going no-where.
While we could all use an "easy" solution, the message is clear. It will take many hours of seeking out people with needs, soliciting feedback, and building an on-going partnership with them; and this through-out and after the initial development cycle. Adams is blunt about the number of contacts required per nugget of truth. This is work!
The author states that using his method will produce an initial product that is more akin to a second or third generation product. I wonder, did he use his own method when producing his book? Because it reads like a first generation product, and a hurried one at that.
Most Recent Customer Reviews
Great book! If you're looking to start a business this book gives you an understanding of what should be done first. Read morePublished 2 months ago by Fredrick L
A great book on how to make sure your new business is viable before you invest significant time or money.Published 6 months ago by Steve P.
Interest read and thought provoking that expands perspectives on thinking about business start-up perspectives.Published 11 months ago by Stacey A. Hollis
An incredibly useful book! A must read before spending all your money! I could have saved hundreds of thousands of dollars.Published 13 months ago by Brent Coyle
This is a very simple book that presents a simple method for improving your chances of success. It taught me how to listen to my market more than my gut feeling, and it taught me... Read morePublished 15 months ago by AP
The book is good and gives a lot of solid details and concepts, too technical leaning in my opinion since I think it would also have been good to cover in more detail the social... Read morePublished 17 months ago by Carlos M. Del Campo
Rob has written some undeniable good content. He certainly knows his stuff and if you care about solid content above readability this book might be perfect for you. Read morePublished 17 months ago by Christie
Well thought out and written guide describing a methodical process that applies to all start up business today.Published 17 months ago by James H-S