The New Business Road Test: What Entrepreneurs and Investors Should Do Before Launching a Lean Startup, by John Mullins

2019 ◽  
Vol 1 (1) ◽  
pp. 89-92
Author(s):  
José Luis Albites Sanabria
Keyword(s):  
Road Test ◽  
Start Up ◽  
Plan B ◽  
Entrepreneurial Team ◽  
New Business ◽  
First Time ◽  
Lean Startup ◽  
Thought Leaders

John Mullins is a researcher, teacher and one of the world’s foremost thought leaders in entrepreneurship. Over the years, John has been hailed as an inspiration for entrepreneurs who have employed the models outlined in books such as Getting to Plan B or The Customer-Funded Business, in order to transform their ideas into global startup companies. Now in its 5th edition, The New Business Road Test guides the reader through the complex yet gripping process of testing a business idea. How can you be completely sure that your list of start-up ideas is good or bad? How much time or money should you invest in each of these ideas? And, for first-time entrepreneurs, should you embark upon a start-up just because you love your idea? Should you leave a stable job and focus entirely on what feels to you like a good business idea? Mullins’ book offers thoughtful readers guidance on the thorny issues associated with entrepreneurship that you yourself may be facing even as you read this introduction. In order to fully understand the theories behind the tools and advice for testing your idea, we must start by understanding Mullins’ vision of the entrepreneurial world. The book begins by defining three elements crucial to the success of a business: the market, the industry, and the entrepreneurial team.

scholarly journals An Examination of the Information Behaviour of New Entrepreneurs in the Start-Up Phase of a Business

2021 ◽  
Author(s):  
◽  
Susan Elder Leslie
Keyword(s):  
Information Needs ◽  
Business Owners ◽  
Sense Making ◽  
Small Business Owners ◽  
Structured Interviews ◽  
Information Behaviour ◽  
Start Up ◽  
New Business ◽  
First Time ◽  
A Company

<p>This research set out to examine in detail how eight first-time entrepreneurs went about finding out what they felt they needed to know during the first months of their business's operation, and in particular how they constructed their problems or questions in discourse and how they went about addressing them. Based on Brenda Dervin's Sense-Making methodology and work by Pamela McKenzie, the research involved semi-structured interviews in which participants were invited to recount specific instances of problems or questions they had experienced in their business. Data analysis involved close reading of both the interview transcripts and the researcher's notes and observations in order to draw out key themes and enable analysis of the discursive practices respondents used, particularly in privileging some information sources over others. The research found that the respondents experienced questions and problems largely relating to a small number of business issues, principally around the mechanics of setting up a company, deciding what kinds of services to provide and learning about the market environment in which they were operating. Like other studies of the information behaviour of small business owners, the research found that all of the respondents reported acting on information obtained from friends, colleagues or family. Most had consulted professional advisors, and all but one talked of using the Internet as a source of information. Only one respondent had sought assistance from an enterprise agency. The objectives of this research were twofold; to gather information about the actual behaviour of new entrepreneurs, and to test the potential usefulness of the sense-making methodology to an understanding of new business owners' information needs. Both of these objectives were largely met, with the research concluding that Sense-Making offers a valid and useful model with which to investigate the information behaviour of new entrepreneurs.</p>

scholarly journals An Examination of the Information Behaviour of New Entrepreneurs in the Start-Up Phase of a Business

2021 ◽  
Author(s):  
◽  
Susan Elder Leslie
Keyword(s):  
Information Needs ◽  
Business Owners ◽  
Sense Making ◽  
Small Business Owners ◽  
Structured Interviews ◽  
Information Behaviour ◽  
Start Up ◽  
New Business ◽  
First Time ◽  
A Company

<p>This research set out to examine in detail how eight first-time entrepreneurs went about finding out what they felt they needed to know during the first months of their business's operation, and in particular how they constructed their problems or questions in discourse and how they went about addressing them. Based on Brenda Dervin's Sense-Making methodology and work by Pamela McKenzie, the research involved semi-structured interviews in which participants were invited to recount specific instances of problems or questions they had experienced in their business. Data analysis involved close reading of both the interview transcripts and the researcher's notes and observations in order to draw out key themes and enable analysis of the discursive practices respondents used, particularly in privileging some information sources over others. The research found that the respondents experienced questions and problems largely relating to a small number of business issues, principally around the mechanics of setting up a company, deciding what kinds of services to provide and learning about the market environment in which they were operating. Like other studies of the information behaviour of small business owners, the research found that all of the respondents reported acting on information obtained from friends, colleagues or family. Most had consulted professional advisors, and all but one talked of using the Internet as a source of information. Only one respondent had sought assistance from an enterprise agency. The objectives of this research were twofold; to gather information about the actual behaviour of new entrepreneurs, and to test the potential usefulness of the sense-making methodology to an understanding of new business owners' information needs. Both of these objectives were largely met, with the research concluding that Sense-Making offers a valid and useful model with which to investigate the information behaviour of new entrepreneurs.</p>

El método Lean Startup. Cómo crear empresas de éxito utilizando la innovación continua de Eric Ries

2019 ◽  
Vol 1 (1) ◽  
pp. 83-88
Author(s):  
Ysmael Jesús Ayala Colqui
Keyword(s):  
A Priori ◽  
El Paso ◽  
Start Up ◽  
Start Ups ◽  
Lean Startup

Una start-up es definida como una empresa destinada solucionar problemas de maneras no obvias, donde el éxito no está garantizado de antemano y, solo en los casos de éxito efectivo, se adquiere un crecimiento rápido y significativo (Robehmed, 2013). Ejemplos clásicos de start-ups serían Facebook, Uber o AirBnB que, con comienzos modestos, pero con ideas innovadoras, se convirtieron con el paso del tiempo en empresas de ingresos millonarios. Una de las tantas preguntas al respecto sería la siguiente: ¿cómo lograr una start-up de éxito a sabiendas que el éxito no está garantizado a priori y, aún más, que la gran mayoría de estas fracasan?

Kewirausahaan (Entreprenuership) Berbasis Manajemen Strategik bagi Wirausaha Baru di Kecamatan Kebayoran Lama Utara, Jakarta Selatan

2018 ◽  
Vol 1 ◽  
pp. 333
Author(s):  
Sintha Wahjusaputri ◽  
Ahmad Faisal Siregar
Keyword(s):  
Strategic Management ◽  
Community Organization ◽  
Small And Medium Enterprises ◽  
Group Discussion ◽  
Family Welfare ◽  
Start Up ◽  
Work Community ◽  
New Business ◽  
Medium Enterprises ◽  
Creativity And Innovation

Entrepreneurship (entrepreneurship) is a process of applying creativity and innovation in solving problems and finding opportunities to improve life (business and work). Community service activities are focused on small and medium enterprises (SMEs) built by PKK through UP2K in Kebayoran Lama Utara sub-district, in the form of food culinary, clothing, transportation and new business (start-up company). Business people as many as 30 people from various businesses. Methods used: (1) Survey; (2) Focus Group Discussion (FGD); (3) Briefing (Community Organization); (4) Community Development; (5) Learning Methods; and (6) Advocacy. The findings obtained are: (1) nine out of 10 organizations failed to realize SMEs due to no rest; (2) there are 5% of participants who understand the strategic plan; (3) 60% of organizations do not have realization budgets. The objectives of entrepreneurship based on strategic management are: (1) achievement of family economic effort improvement through group / individual business, so as to increase income and family welfare; (2) enhancing the capabilities and qualities of new entrepreneurs; (3) increasing knowledge, skills and skills for new entrepreneurs; (4) fostering groups of community or pre-cooperative economic enterprises in order to improve the family and community economy. Strategic management-based entrepreneurship is expected to promote effective and efficient SMEs for new entrepreneurs.

Entrepreneurial Team Assembly

2019 ◽  
pp. 629-654
Author(s):  
Martin Ganco ◽  
Florence Honoré ◽  
Joseph Raffiee
Keyword(s):  
Team Member ◽  
Customer Relationships ◽  
Team Formation ◽  
Future Research ◽  
Assortative Matching ◽  
Resource Transfer ◽  
Start Up ◽  
Entrepreneurial Team ◽  
Team Assembly ◽  
Matching Models

This chapter provides a review of the scholarly literature on entrepreneurial teams and team formation. It pays special attention to two emerging areas of research that present many promising opportunities for future work. First, the chapter discusses the role of resource transfer in the context of start-up firms. It argues that an understanding of the antecedents and consequences of the founding process would be significantly advanced by more explicit theorizing and effort to empirically identify the specific types of resources entrepreneurial team members bring to start-up firms. It highlights one recent advancement in this space—work that has focused on a team’s ability to transfer customer and client relationships from the parent to start-up firms—and provides an outline of open research questions in this realm. Second, the chapter provides a primer on a recent methodological advancement—the use of two-sided assortative matching models—that can be applied to entrepreneurial team assembly to alleviate ongoing concerns that team formation is fundamentally an endogenous process. It demonstrates how these models can be applied using a wide variety of founder, cofounder, and early team member attributes, including an individual’s ability to transfer customer relationships. Importantly, it proposes that synergies emerging from the use of two-sided assortative matching models to study a broader set of team member attributes that include resource transfer will open promising new avenues for future research.

Neue Geschäftsmodelle in der Life Science Industrie durch einen ganzheitlichen Innovationsprozess

2021 ◽  
Vol 62 (1) ◽  
pp. 17-29
Author(s):  
Ouelid Ouyeder ◽  
Julia Hitzbleck ◽  
Henning Trill
Keyword(s):  
Business Models ◽  
Design Thinking ◽  
Life Science ◽  
Real Life ◽  
Idea Generation ◽  
Innovation Process ◽  
Innovation Activities ◽  
New Business ◽  
End To End ◽  
Lean Startup

Abstract The aim of this paper is to introduce an end-to-end development process for non-biomedical innovation and new business models of a Life Science company that integrates different methods such as Design Thinking, Lean Startup, Agility and others within one framework. Since 2016 this innovation process is an essential part of the internal Employee Innovation program and proves its applicability in a real-life setting. Projects teams develop and implement their new digital business models successfully by taking the introduced innovation process as guideline. This process enables the Life Science organization to run two global entrepreneurship programs (Catalyst Fund and Catalyst Box) that foster customer focus with fast and evidence-based experimentation. The article encompasses a real-life case study out of the Catalyst Fund program about the Farm Advisory Team from India. By using this example each phase of the innovation process is described schematically. Idea generation is easy-to-apply, but the implementation of ideas is one of the biggest challenges in larger corporations. The proposed end-to-end innovation process connects the dots of different innovation methods and provides guidance to company decision makers and project teams in order to structure their business model innovation activities/strategy and discussions. Zusammenfassung Das Ziel dieses Beitrags ist es, einen durchgängigen Innovationsprozess für nicht-biomedizinische Lösungen und Geschäftsmodelle eines Life-Science-Unternehmens vorzustellen, der verschiedene Methoden wie Design Thinking, Lean Startup, Agilität und andere innerhalb eines Gestaltungsrahmens integriert. Seit 2016 ist der Innovationsprozess ist ein wesentlicher Bestandteil des internen Employee Innovation Programms und beweist seine Anwendbarkeit in einem realen Umfeld. Projektteams entwickeln und implementieren ihre neuen digitalen Geschäftsmodelle erfolgreich, indem sie den vorgestellten Innovationsprozess als Leitfaden nutzen. Dieser Prozess ermöglicht es dem Life-Science-Unternehmen, zwei globale Entrepreneurship-Programme (Catalyst Fund und Catalyst Box) durchzuführen, die den Kundenfokus mit schnellen und evidenzbasierten Experimenten fördern. Der Artikel umfasst eine reale Fallstudie aus dem Catalyst Fund Programm über das Farm Advisory Team aus Indien. Anhand dieses Beispiels wird jede Phase des Innovationsprozesses schematisch beschrieben. Die Ideengenerierung ist leicht anwendbar, aber die Umsetzung von Ideen ist eine der größten Herausforderungen in größeren Unternehmen. Der vorgeschlagene End-to-End-Innovationsprozess integriert die verschiedenen Innovationsmethoden und bietet Entscheidungsträgern und Projektteams in Unternehmen eine Anleitung, um ihre Aktivitäten bzw. Strategie und Diskussionen zur Geschäftsmodellinnovation zu strukturieren.

scholarly journals Socio-Economic Impact of Revitalization: The Case of Bandar Seri Begawan, Brunei Darussalam

2018 ◽  
Vol 5 (2) ◽  
pp. 1 ◽  
Author(s):  
Fahmi Ibrahim ◽  
Syazana Syazwani Abdul Ghani
Keyword(s):  
Economic Impact ◽  
Capital City ◽  
Cause And Effect ◽  
City Environment ◽  
Sustainable Environment ◽  
Brunei Darussalam ◽  
Start Up ◽  
New Business ◽  
Socio Economic Impact ◽  
The City

Urban revitalization is the process of the city to restore its vibrancy, bringing the city to life, expanding profitable activities, increase in land and economic values and start-up new business ventures. The importance of revitalization can help improve the development to the city in terms of economic, social and cultural. Strategies of revitalization have been implemented through investments, conservation and regeneration that emphasizes to promote tourism, strengthen the capabilities and increase employment opportunities. The aim of this research paper is to revitalize the city of Bandar Seri Begawan into a sustainable environment integrating the interest of residents, businesses and tourists. Subsequently is to investigate the cause and effect of revitalization towards tourism, cultural and social activities. The study focuses on Bandar Seri Begawan, the capital city of Brunei which does not have the usual characteristic of a busy, key economic centre or ‘life’ of a country which suffers from lack of vitality that it loses out to other cities. Interviews and on-site observations methods were used for this study. The findings demonstrate that revitalization of Bandar Seri Begawan is closely related to the Water Village - Kampong Ayer as it represents the identity of Bandar Seri Begawan. This paper highlights the development of a conceptual framework that can be served as guidelines to revitalize the Bandar Seri Begawan (BSB) into a sustainable city environment integrating all the factors – the diversity of needs of residents, tourists and businesses which also help to understand the cause and effect of revitalization towards tourism, cultural and social activities.Socio-Economic Impact of Revitalization: The Case of Bandar Seri Begawan, Brunei Darussalam

The Death of Social Media in Start-Up Companies and the Rise of S-Commerce

2012 ◽  
Vol 10 (2) ◽  
pp. 1-15 ◽  
Author(s):  
Suresh Sood
Keyword(s):  
Social Media ◽  
Chaotic Behavior ◽  
Wearable Computing ◽  
Computing Technology ◽  
Track Record ◽  
Start Up ◽  
Social Technologies ◽  
New Business ◽  
Amount Of Knowledge ◽  
Process Startup

Startup employees led by the entrepreneur are masters of embracing complexity. This means the startup team understands cause and effect follow a non-linear relationship with the subtlest of changes potentially resultant in producing chaotic behavior and surprise. For the startup, this means counterintuitive thinking wins the day. In light of this, small expenditures can have a greater impact on developing new business. The startup employee prefers not to be constrained by desktop or the old broadcast model of email; instead exploiting social technologies anywhere. A startup is a learning organization improving processes and results on an ongoing basis mirroring entrepreneurship as a learning process. Startup employees realize success goes beyond consideration of product functionality or a track record built on an existing base of customers. With major technology disruptions during 2012-2014, the potential to launch a “startup-in-a-box” integrating social, mobile, and wearable computing technology is a reality and essential. Only through a combination of social technologies can startups and founding employees maintain pace with the changing business landscape and generate a rapid amount of knowledge to sustain sufficient advantage in the market. Furthermore, the forthcoming death of social media and rise of S-commerce as convergence with E-commerce progresses to help generate revenues from newfound knowledge perfectly complements startup employees.

scholarly journals Funding New Business Ventures: Differences In Minority And Non-Minority Family-Owned Business Access To Start-Up Capital

2011 ◽  
Vol 1 (2) ◽  
Author(s):  
Andrea Smith-Hunter ◽  
James R. Nolan
Keyword(s):  
Family Business ◽  
Credit Cards ◽  
Business Owners ◽  
Bank Loans ◽  
Extensive Survey ◽  
Start Up ◽  
New Business ◽  
Larger Sample

Access to start-up capital is important in starting any business venture. In addition, the source of that start-up capital can sometimes affect the prospects for success in the new business venture. This study examines the differences in the source of start-up funds between male minority and male non-minority family business owners. The findings indicate that male minority family business owners more often use credit cards and gifts from family as a source of start-up funds whereas the male non-minority family business owners rely more often on bank loans. The authors propose a more extensive survey of a larger sample of family business owners in order to further identify differences in source of start-up capital between male minority and male non-minority family business owners.

scholarly journals Impact of the Lean Start up Method on Project Performance Indicators

2020 ◽  
pp. 80-82
Author(s):  
Ekaterina Pavlovna Burmistrova
Keyword(s):  
Project Management ◽  
Comparative Analysis ◽  
Performance Indicators ◽  
Project Performance ◽  
Start Up ◽  
Lean Startup

The article considers the Lean Startup method, highlights and reveals its features. Also, its provides a comparative analysis of this method with other approaches to project management. Special attention is paid to revealing the influence of the Lean Startup method on project performance indicators.

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