- File Size: 2957 KB
- Print Length: 260 pages
- Publisher: NISI Publishing; 1 edition (November 15, 2013)
- Publication Date: November 15, 2013
- Sold by: Amazon Digital Services LLC
- Language: English
- ASIN: B0055D7O1U
- Text-to-Speech: Enabled
- Word Wise: Enabled
- Lending: Enabled
Amazon Best Sellers Rank:
#103,093 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
- #74 in Kindle Store > Kindle eBooks > Business & Money > Technology > Innovation
- #92 in Kindle Store > Kindle eBooks > Business & Money > Entrepreneurship & Small Business > Starting a Business
- #112 in Kindle Store > Kindle eBooks > Business & Money > Entrepreneurship & Small Business > Entrepreneurship > Startups
|Print List Price:||$24.95|
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Nail It then Scale It: The Entrepreneur's Guide to Creating and Managing Breakthrough Innovation: The lean startup book to help entrepreneurs launch a high-growth business Kindle Edition
|Length: 260 pages||Word Wise: Enabled||Enhanced Typesetting: Enabled|
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TL;DR: Your middle-of-the-night ideas are probably stupid. You're probably wrong. Take the minimum time to get a prototype in the face of your potential customers, iterate on their feedback, and DO NOT INVEST significant money and time until you have tried to prove your idea wrong from many angles with customer feedback. Indeed, if you haven't disproven any part of your business idea, you haven't tried hard enough -- no successful businessman or businesswoman just *knows* what people want.
Nail the customers' pain.
Nail the solution customers are willing to pay for.
Avoid the traps of conventional wisdom that lead most entrepreneurs to failure.
Here are some of my favorite quotes from the book:
Why Believing in Your Product Leads to Failure. "All too often, entrepreneurs fall in love with their product or technology, they ignore negative feedback from customers, and they spend years building a product based on a vision that no one else shares."
Why Having too Much Money Leads to Failure. "Money allowed the entrepreneurs to execute their flawed business plan rather than to stay laser focused on the market so that they could find the facts about what customers wanted and adjust accordingly."
Where Do Winning Innovations Come From? "The key difference... is not to just ask customers what they want but to deeply understand the customers--their motivations, their needs, and most important, the job they are trying to get done... Thomas Edison stated that `I find out what the world needs. Then I go ahead and try to invent it'."
As Ahlstrom points out, commitment of money is a very powerful validation. "The price your customers are willing to pay is the measure of the degree to which you have nailed the solution."
Fail Fast and Learn to Change. "By remembering to fail fast, you focus on rapidly testing your assumptions, iterating swiftly, and then, because you have less attachment, you can see when you need to abandon one approach in favor of a better approach."
Focus on Simplicity. "Somewhat counter-intuitively, simplifying increases customer adoption and reduces costs. Customers are attracted by simplicity and confused by complexity... Entrepreneurs should focus on developing the minimum feature set to close a customer purchase."
Unquestionably worth my time.
Thank you Paul and Nathan for the time it took you to write this book.
Adam O'Donnell, Co-Founder & CEO of Buzz.Report.
The book has the following key advantages:
-Strong theoretical foundation: It uses and/or references the best models and concepts for bringing new products to market: Customer Development, Lean Startups, Technology Adoption Life Cycle, Disruptive Innovations, and Getting to Plan B as taught at the Stanford Technology Ventures Program
-Practical: It includes several real-world examples both from the author's own experiences and those of others about how to apply the different principles
-Easy to follow: It reads as a step-by-step how-to guide that can be applied by almost anyone, anywhere (i.e. one does not have to have a lot of technical expertise or be based in a startup hub) and focuses on doing the right things in the right order
-Comprehensive: It covers the key elements of the Market, the Solution, the Go-to-market strategy, the Business Model, and Scaling the business. In addition, it covers both the product and market development processes and how they relate to each other in detail
We use the principles of this book internally and we would recommend it to anyone interested in building a new business. If you get one book about how to launch and grow your startup, get this one.