Archive for the 'Small Business and Entrepreneurship' Category
"In the last five years “Lean Startup” methodologies have enabled entrepreneurs to efficiently build a startup by searching for product/market fit rather than blindly trying to execute. Companies pursuing innovation can Buy, Build, Partner or use Open Innovation. But trying to find a unified theory of innovation that allows established companies to innovate internally with the speed and urgency of startups has eluded our grasp."
"If you asked me why I gravitated to startups rather than work in a large company I would have answered at various times: “I want to be my own boss.” “I love risk.” “I want flexible work hours.” “I want to work on tough problems that matter.” “I have a vision and want to see it through.” 'I saw a better opportunity and grabbed it. …'"
"It never crossed my mind that I gravitated to startups because I thought more of my abilities than the value a large company would put on them. At least not consciously. But that’s the conclusion of a provocative research paper, Asymmetric Information and Entrepreneurship, that explains a new theory of why some people choose to be entrepreneurs. The authors’ conclusion — Entrepreneurs think they are better than their resumes show and realize they can make more money by going it alone. And in most cases, they are right."
Author bio – "Entrepreneur-turned-educator Steve Blank is the Father of Modern Entrepreneurship. Credited with launching the Lean Startup movement, he’s changed how startups are built; how entrepreneurship is taught; how science is commercialized, and how companies and the government innovate. . . ."
"That's one of the reasons why they'll try to pick the brains of successful business owners. They want to learn the success secrets, or the one or two magic tactics that will make all the positive difference in their results.
"Over the past two years, I did a lot of that brain picking for you while interviewing 147 different entrepreneurs. One of the key things I wanted to tease out were their keys to success."