A startup is a new business venture that aims to develop a scalable business model. Startups face high uncertainty and failure rates but some become successful. Models behind startups use design principles like affordable loss. Founders begin by solving a problem through customer interviews and building a minimum viable product. Sustaining long-term effort is challenging due to failure risks. Plans outline strategies for the first 3-5 years.
"Lean" Legal: Empowering business teams and companies to rapidly experimentIntuit Inc.
Learn how Intuit has adopted lean practices in an unlikely place - its legal department – by adopting a "getting to yes" mindset that enables innovation rather than hinders it.
This white paper describes how the Intuit legal team developed a set of guidelines designed to enable product teams to run multiple types of experiments without prior legal review – as its own internal experiment.
Mustafa Degerli - 2016 - Technology Entrepreneurship and Lean Startups - Read...Dr. Mustafa Değerli
Mustafa Degerli - 2016 - Technology Entrepreneurship and Lean Startups - Reading Reflection - Hypothesis-Driven Entrepreneurship: The Lean Startup – T. Eisenmann, E. Ries, and S. Dillard
Innovating in Good Times & in Bad: Best Practices in Innovationfuturethink
In the current economic climate, the discipline of innovation is taking a different form. Leading organizations recognize the importance of investing in their future to be in a stronger competitive position in a post-economic crisis world. But what exactly are companies doing to stay ahead of the curve and how are they building their innovation programs to accomplish this?
"Lean" Legal: Empowering business teams and companies to rapidly experimentIntuit Inc.
Learn how Intuit has adopted lean practices in an unlikely place - its legal department – by adopting a "getting to yes" mindset that enables innovation rather than hinders it.
This white paper describes how the Intuit legal team developed a set of guidelines designed to enable product teams to run multiple types of experiments without prior legal review – as its own internal experiment.
Mustafa Degerli - 2016 - Technology Entrepreneurship and Lean Startups - Read...Dr. Mustafa Değerli
Mustafa Degerli - 2016 - Technology Entrepreneurship and Lean Startups - Reading Reflection - Hypothesis-Driven Entrepreneurship: The Lean Startup – T. Eisenmann, E. Ries, and S. Dillard
Innovating in Good Times & in Bad: Best Practices in Innovationfuturethink
In the current economic climate, the discipline of innovation is taking a different form. Leading organizations recognize the importance of investing in their future to be in a stronger competitive position in a post-economic crisis world. But what exactly are companies doing to stay ahead of the curve and how are they building their innovation programs to accomplish this?
Innomantra Viewpoint - Getting Bold innovation Right v1.0 Innomantra
Getting ‘BOLD INNOVATION’ Right
By Neelima Joseph & Lokesh Venkataswamy
The element ‘SUPPORT’ finds relevance in the innovation management system. To manage innovation effectively, the organization should jump in and facilitate the required resources for establishing, implementing, maintaining, and continual improvement of the innovation management system. The resources come in different forms such as Time, Knowledge, Financial resources, Infrastructure, and Human resources. For effective implementation of the standard, organizations are responsible for determining, providing, and managing the right people. Organizations must identify and develop teams with diverse backgrounds, to enhance cross-pollination and leverage the collective competence of the organization (ISO 56002:2019).
The element 'SUPPORT' encompasses the following sub-clauses, which are the different ways in which support could be extended:
Read attachedpages about 3-M and their approach to innovationRes.docxmakdul
Read attachedpages about 3-M and their approach to innovation
Research one of 3M’s innovations.
Write a full two page paper in which you respond to the following questions:
1. How did the creative thinking process work in the development of this product? Describe what took place in each of the four steps.
2. Analyze what type of innovation this was—invention, extension, duplication, or synthesis. What characteristics of the innovation have led you to this conclusion?
3. Explain which of the sources of innovative ideas discussed in this week’s reading help account for this product’s success and why?
Include a minimum of two sources
The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship
Thus, 3M’s philosophy was born. Innovation is a numbers game: The more ideas, the better the chances for a successful innovation. In other words, to master innovation, companies must have a tolerance for failure. This philosophy has paid off for 3M. Antistatic videotape, trans- lucent dental braces, synthetic ligaments for knee surgery, heavy-duty reflective sheeting for construction signs, and, of course, Post-it notes are just some of the great innovations devel- oped by the organization. Overall, the company has a catalog of 60,000 products.40
Today, 3M follows a set of innovative rules that encourages employees to foster ideas. The key rules include the following:
•
Don’t kill a project. If an idea can’t find a home in one of 3M’s divisions, a staffer can devote 15 percent of his or her time to prove it is workable. For those who need seed money, as many as 90 Genesis grants of $50,000 are awarded each year.
• Tolerate failure. Encouraging plenty of experimentation and risk taking allows more chances for a new product hit. The goal: Divisions must derive 25 percent of sales from products introduced in the past five years. The target may be boosted to 30 percent in some cases.
• Keep divisions small. Division managers must know each staffer’s first name. When a division gets too big, perhaps reaching $250 million to $300 million in sales, it is split up.
• Motivate the champions. When a 3M employee has a product idea, he or she recruits an action team to develop it. Salaries and promotions are tied into the product’s progress. The champion has a chance to someday run his or her own product group or division.
• Stay close to the customer. Researchers, marketers, and managers visit with customers and routinely invite them to help brainstorm product ideas.
•
Share the wealth. Technology, wherever it is developed, belongs to everyone.41 3-4c structuring the Work environment
Structuring the Work environment
When establishing the drive to innovate in today’s corporations, one of the most critical steps is to invest heavily in an innovative environment. A top-level manager’s job is to create a work environment that is highly conducive to innovation and entrepreneurial behaviors. Within such an environment, each employee has the opport ...
This is the third of three decks which present a new collaborative innovation reference model. This deck considers different "types" of innovation: Open Innovation, Business Model innovation, etc within the context of the reference model we suggested in the second deck. Your comments and suggestions are welcome.
Much of the time, we view innovation through a lens of total newness, but teachings from a variety of industries and professions might hold the key to defining successful strategies, and positively influence the way innovation is executed in the enterprise space.
Over 100 decision-makers working directly on corporate innovation in Fortune 1000 (Americas, Europe, Asia) corporations share their learnings. By 500 Startups.
Entrepreneurship is as hard as it can be rewarding. Entrepreneurs make personal, professional and financial sacrifices knowing the cards are stacked against them. So what separates the failed entrepreneur from the successful?
[Salterbaxter MSLGROUP Directions] Materiality - Breaking Out of the Strait-J...MSL
Materiality can help to deliver a range of valuable outcomes, but all too often the process ends up being nothing than a costly rubber-stamp; a matrix of prioritised issues, that’s finalised, published, and then… nothing. Our Salterbaxter MSLGROUP team present five materiality fundamentals, which are important considerations that can help improve results no matter where a company is on its journey.
Key elements of transitioning from intrapreneur to entrepreneureTailing India
Every forward-thinking firm seeks to nurture its employees, and most will say they already do, but intrapreneurship goes further. It’s about embracing creativity and innovation, and enabling employees to turn ideas into something of real value to the business.
Key elements of transitioning from intrapreneur to entrepreneurAshish Jhalani
Every forward-thinking firm seeks to nurture its employees, and most will say they already do, but intrapreneurship goes further. It’s about embracing creativity and innovation, and enabling employees to turn ideas into something of real value to the business.
Test Your Innovation IQ Holly Green, Contributor Origina.docxtodd191
Test Your Innovation IQ
Holly Green, Contributor
Original Source
Everyone knows that innovation means coming up with the next great idea in your
industry, right? Actually, there’s a lot more to it than that. Test your ability to separate
innovation fact from fiction by answering the following questions true or false:
1. Innovation is the act of coming up with new and creative ideas.
2. Innovation is a random process.
3. Innovation is the exclusive realm of a few naturally talented people.
4. The biggest obstacle to innovation is a lack of organizational resources and
know-how.
5. The most important type of innovation involves bringing new products and
services to market.
6. Teaching employees to think creatively will guarantee innovation.
7. The most powerful way to trigger your brain is to simply ask it a question.
8. Most companies pursue incremental rather than disruptive innovation.
9. Most companies are not structured to innovate.
10. Listening to your customers is a great way to innovate.
Answers:
1. False. In business, innovation is the act of applying knowledge, new or old, to the
creation of new processes, products, and services that have value for at least one of
your stakeholder groups. The key word here is applying. Generating creative ideas is
certainly part of the process. But in order to produce true innovation, you have to
actually do something different that has value.
2. False. Innovation is a discipline that can (and should) be planned, measured, and
managed. If left to chance, it won’t happen.
3. False. Everyone has the power to innovate by letting their brain wander, explore,
connect, and see the world differently. The problem is that we’re all running so fast that
we fail to make time for the activities that allow our brains to see patterns and make
connections. Such as pausing and wondering….what if?
4. False. In most organizations, the biggest obstacle to innovation is what people
already know to be true about their customers, markets, and business. Whenever you’re
absolutely, positively sure you’re right, any chance at meaningful innovation goes out
the window.
https://www.forbes.com/sites/work-in-progress/2011/12/06/test-your-innovation-iq/#3133e7f0395b
5. False. It’s certainly important to bring new products and services to market. But the
most important form of innovation, and the #1 challenge for today’s business leaders
may really be reinventing the way we manage ourselves and our companies.
6. False. New ideas are a dime a dozen. The hard part is turning those ideas into new
products and services that customers value and are willing to pay for -- a process that
requires knowledge about what your customers want and need, coupled with
implementation.
7. True. Ask a question and the brain responds instinctually to get closure. The key with
innovation is to ask questions that open people to possibilities, new ways of looking at
the same data, and new interpre.
Startup Guide - Everything You Need To Know To Start & GrowAamir Qutub
Since the turn of the century, small startup ideas—Uber, Twitter, Instagram, Airbnb, to name a few—have been scaled into technology giants. Could you imagine a day without scrolling social media? Or jumping in an Uber to the airport? Startups have disrupted industries by focusing on cutting-edge technology, the sharing economy, and social media. Startups also have the potential to influence and transform industries of the future. So, leap into the start-up world with fresh ideas and a desire to change the world.
Learn more from the video on my Youtube Page:
https://www.youtube.com/watch?v=EmVlN3xei4w&t=80s
Innomantra Viewpoint - Getting Bold innovation Right v1.0 Innomantra
Getting ‘BOLD INNOVATION’ Right
By Neelima Joseph & Lokesh Venkataswamy
The element ‘SUPPORT’ finds relevance in the innovation management system. To manage innovation effectively, the organization should jump in and facilitate the required resources for establishing, implementing, maintaining, and continual improvement of the innovation management system. The resources come in different forms such as Time, Knowledge, Financial resources, Infrastructure, and Human resources. For effective implementation of the standard, organizations are responsible for determining, providing, and managing the right people. Organizations must identify and develop teams with diverse backgrounds, to enhance cross-pollination and leverage the collective competence of the organization (ISO 56002:2019).
The element 'SUPPORT' encompasses the following sub-clauses, which are the different ways in which support could be extended:
Read attachedpages about 3-M and their approach to innovationRes.docxmakdul
Read attachedpages about 3-M and their approach to innovation
Research one of 3M’s innovations.
Write a full two page paper in which you respond to the following questions:
1. How did the creative thinking process work in the development of this product? Describe what took place in each of the four steps.
2. Analyze what type of innovation this was—invention, extension, duplication, or synthesis. What characteristics of the innovation have led you to this conclusion?
3. Explain which of the sources of innovative ideas discussed in this week’s reading help account for this product’s success and why?
Include a minimum of two sources
The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship
Thus, 3M’s philosophy was born. Innovation is a numbers game: The more ideas, the better the chances for a successful innovation. In other words, to master innovation, companies must have a tolerance for failure. This philosophy has paid off for 3M. Antistatic videotape, trans- lucent dental braces, synthetic ligaments for knee surgery, heavy-duty reflective sheeting for construction signs, and, of course, Post-it notes are just some of the great innovations devel- oped by the organization. Overall, the company has a catalog of 60,000 products.40
Today, 3M follows a set of innovative rules that encourages employees to foster ideas. The key rules include the following:
•
Don’t kill a project. If an idea can’t find a home in one of 3M’s divisions, a staffer can devote 15 percent of his or her time to prove it is workable. For those who need seed money, as many as 90 Genesis grants of $50,000 are awarded each year.
• Tolerate failure. Encouraging plenty of experimentation and risk taking allows more chances for a new product hit. The goal: Divisions must derive 25 percent of sales from products introduced in the past five years. The target may be boosted to 30 percent in some cases.
• Keep divisions small. Division managers must know each staffer’s first name. When a division gets too big, perhaps reaching $250 million to $300 million in sales, it is split up.
• Motivate the champions. When a 3M employee has a product idea, he or she recruits an action team to develop it. Salaries and promotions are tied into the product’s progress. The champion has a chance to someday run his or her own product group or division.
• Stay close to the customer. Researchers, marketers, and managers visit with customers and routinely invite them to help brainstorm product ideas.
•
Share the wealth. Technology, wherever it is developed, belongs to everyone.41 3-4c structuring the Work environment
Structuring the Work environment
When establishing the drive to innovate in today’s corporations, one of the most critical steps is to invest heavily in an innovative environment. A top-level manager’s job is to create a work environment that is highly conducive to innovation and entrepreneurial behaviors. Within such an environment, each employee has the opport ...
This is the third of three decks which present a new collaborative innovation reference model. This deck considers different "types" of innovation: Open Innovation, Business Model innovation, etc within the context of the reference model we suggested in the second deck. Your comments and suggestions are welcome.
Much of the time, we view innovation through a lens of total newness, but teachings from a variety of industries and professions might hold the key to defining successful strategies, and positively influence the way innovation is executed in the enterprise space.
Over 100 decision-makers working directly on corporate innovation in Fortune 1000 (Americas, Europe, Asia) corporations share their learnings. By 500 Startups.
Entrepreneurship is as hard as it can be rewarding. Entrepreneurs make personal, professional and financial sacrifices knowing the cards are stacked against them. So what separates the failed entrepreneur from the successful?
[Salterbaxter MSLGROUP Directions] Materiality - Breaking Out of the Strait-J...MSL
Materiality can help to deliver a range of valuable outcomes, but all too often the process ends up being nothing than a costly rubber-stamp; a matrix of prioritised issues, that’s finalised, published, and then… nothing. Our Salterbaxter MSLGROUP team present five materiality fundamentals, which are important considerations that can help improve results no matter where a company is on its journey.
Key elements of transitioning from intrapreneur to entrepreneureTailing India
Every forward-thinking firm seeks to nurture its employees, and most will say they already do, but intrapreneurship goes further. It’s about embracing creativity and innovation, and enabling employees to turn ideas into something of real value to the business.
Key elements of transitioning from intrapreneur to entrepreneurAshish Jhalani
Every forward-thinking firm seeks to nurture its employees, and most will say they already do, but intrapreneurship goes further. It’s about embracing creativity and innovation, and enabling employees to turn ideas into something of real value to the business.
Test Your Innovation IQ Holly Green, Contributor Origina.docxtodd191
Test Your Innovation IQ
Holly Green, Contributor
Original Source
Everyone knows that innovation means coming up with the next great idea in your
industry, right? Actually, there’s a lot more to it than that. Test your ability to separate
innovation fact from fiction by answering the following questions true or false:
1. Innovation is the act of coming up with new and creative ideas.
2. Innovation is a random process.
3. Innovation is the exclusive realm of a few naturally talented people.
4. The biggest obstacle to innovation is a lack of organizational resources and
know-how.
5. The most important type of innovation involves bringing new products and
services to market.
6. Teaching employees to think creatively will guarantee innovation.
7. The most powerful way to trigger your brain is to simply ask it a question.
8. Most companies pursue incremental rather than disruptive innovation.
9. Most companies are not structured to innovate.
10. Listening to your customers is a great way to innovate.
Answers:
1. False. In business, innovation is the act of applying knowledge, new or old, to the
creation of new processes, products, and services that have value for at least one of
your stakeholder groups. The key word here is applying. Generating creative ideas is
certainly part of the process. But in order to produce true innovation, you have to
actually do something different that has value.
2. False. Innovation is a discipline that can (and should) be planned, measured, and
managed. If left to chance, it won’t happen.
3. False. Everyone has the power to innovate by letting their brain wander, explore,
connect, and see the world differently. The problem is that we’re all running so fast that
we fail to make time for the activities that allow our brains to see patterns and make
connections. Such as pausing and wondering….what if?
4. False. In most organizations, the biggest obstacle to innovation is what people
already know to be true about their customers, markets, and business. Whenever you’re
absolutely, positively sure you’re right, any chance at meaningful innovation goes out
the window.
https://www.forbes.com/sites/work-in-progress/2011/12/06/test-your-innovation-iq/#3133e7f0395b
5. False. It’s certainly important to bring new products and services to market. But the
most important form of innovation, and the #1 challenge for today’s business leaders
may really be reinventing the way we manage ourselves and our companies.
6. False. New ideas are a dime a dozen. The hard part is turning those ideas into new
products and services that customers value and are willing to pay for -- a process that
requires knowledge about what your customers want and need, coupled with
implementation.
7. True. Ask a question and the brain responds instinctually to get closure. The key with
innovation is to ask questions that open people to possibilities, new ways of looking at
the same data, and new interpre.
Startup Guide - Everything You Need To Know To Start & GrowAamir Qutub
Since the turn of the century, small startup ideas—Uber, Twitter, Instagram, Airbnb, to name a few—have been scaled into technology giants. Could you imagine a day without scrolling social media? Or jumping in an Uber to the airport? Startups have disrupted industries by focusing on cutting-edge technology, the sharing economy, and social media. Startups also have the potential to influence and transform industries of the future. So, leap into the start-up world with fresh ideas and a desire to change the world.
Learn more from the video on my Youtube Page:
https://www.youtube.com/watch?v=EmVlN3xei4w&t=80s
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
1. A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop,
and validate a scalable business model. While entrepreneurship refers to all new businesses,
including self-employment and businesses that never intend to become registered, startups refer
to new businesses that intend to grow large beyond the solo founder. At the beginning, startups
face high uncertainty and have high rates of failure, but a minority of them do go on to be
successful and influential.
Models behind startups presenting as ventures are usually associated with design science. Design
science uses design principles considered to be a coherent set of normative ideas and
propositions to design and construct the company's backbone. For example, one of the initial
design principles is "affordable loss".
2. Startups typically begin by a founder (solo-founder) or co-founders who have a way to solve a
problem. The founder of a startup will begin market validation by problem interview, solution
interview, and building a minimum viable product (MVP), i.e. a prototype, to develop and
validate their business models.
The startup process can take a long period of time (by some estimates, three years or longer), and
hence sustaining effort is required. Over the long term, sustaining effort is especially challenging
because of the high failure rates and uncertain outcomes. Having a business plan in place outlines
what to do and how to plan and achieve an idea in the future. Typically, these plans outline the
first 3 to 5 years of your business strategy.
3. Entrepreneurs often become overconfident about their startups and their influence on an outcome (case of the
illusion of control). Entrepreneurs tend to believe they have more degree of control over events, discounting the
role of luck. Below are some of the most critical decision biases of entrepreneurs to start up a new business.
Overconfidence: Perceive a subjective certainty higher than the objective accuracy.
Illusion of control: Overemphasize how much skills, instead of chance, improve performance.
The law of small numbers: Reach conclusions about a larger population using a limited sample.
Availability bias: Make judgments about the probability of events based on how easy it is to think of examples.
Escalation of commitment: Persist unduly with unsuccessful initiatives or courses of action.
Startups use several action principles to generate evidence as quickly as possible to reduce the downside effect of
decision biases such as an escalation of commitment, overconfidence, and the illusion of control.
4. Lean startup
Lean startup is a clear set of principles to create and design startups under limited resources and tremendous
uncertainty to build their ventures more flexibly and at a lower cost. It is based on the idea that entrepreneurs
can make their implicit assumptions about how their venture works explicit and empirically testing it. The
empirical test is to de/validate these assumptions and to get an engaged understanding of the business model
of the new ventures, and in doing so, the new ventures are created iteratively in a build–measure–learn loop.
Hence, lean startup is a set of principles for entrepreneurial learning and business model design. More
precisely, it is a set of design principles aimed for iteratively experiential learning under uncertainty in an
engaged empirical manner. Typically, lean startup focuses on a few lean principles:
find a problem worth solving, then define a solution
engage early adopters for market validation
continually test with smaller, faster iterations
build a function, measure customer response, and verify/refute the idea
evidence-based decisions on when to "pivot" by changing your plan's course
maximize the efforts for speed, learning, and focus
5. Market validation
A key principle of startup is to validate the market need before providing a customer-centric product or
service to avoid business ideas with weak demand.[Market validation can be done in a number of ways,
including surveys, cold calling, email responses, word of mouth or through sample research.
Design thinking
Design thinking is used to understand the customers' need in an engaged manner. Design thinking and
customer development can be biased because they do not remove the risk of bias because the same biases
will manifest themselves in the sources of information, the type of information sought, and the
interpretation of that information.Encouraging people to “consider the opposite” of whatever decision they
are about to make tends to reduce biases such as overconfidence, the hindsight bias, and anchoring
6. Decision-making under uncertainty
In startups, many decisions are made under uncertainty,and hence a key principle for startups is to be
agile and flexible. Founders can embed options to design startups in flexible manners, so that the
startups can change easily in future.
Uncertainty can vary within-person (I feel more uncertain this year than last year) and between-
person (he feels more uncertain than she does). A study found that when entrepreneurs feel more
uncertain, they identify more opportunities (within-person difference), but entrepreneurs who
perceive more uncertainties than others do not identify more opportunities than others do (no
between-person difference).
7. Partnering
Startups may form partnerships with other firms to enable their business model to operate.To become attractive to
other businesses, startups need to align their internal features, such as management style and products with the market
situation. In their 2013 study, Kask and Linton develop two ideal profiles, or also known as configurations or
archetypes, for startups that are commercializing inventions. The inheritor profile calls for a management style that is
not too entrepreneurial (more conservative) and the startup should have an incremental invention (building on a
previous standard). This profile is set out to be more successful (in finding a business partner) in a market that has a
dominant design (a clear standard is applied in this market). In contrast to this profile is the originator which has a
management style that is highly entrepreneurial and in which a radical invention or a disruptive innovation (totally
new standard) is being developed. This profile is set out to be more successful (in finding a business partner) in a
market that does not have a dominant design (established standard). New startups should align themselves to one of
the profiles when commercializing an invention to be able to find and be attractive to a business partner. By finding a
business partner, a startup has greater chances of becoming successful.
8. Startups usually need many different partners to realize their business idea. The commercialization
process is often a bumpy road with iterations and new insights during the process. Hasche and
Linton (2018) argue that startups can learn from their relationships with other firms, and even if the
relationship ends, the startup will have gained valuable knowledge about how it should move on
going forward. When a relationship is failing for a startup it needs to make changes. Three types of
changes can be identified according to Hasche and Linton (2018):
Change of business concept for the start up
Change of collaboration constellation (change several relationships)
Change of characteristic of business relationship (with the partner, e.g. from a transactional
relationship to more of a collaborative type of relationship)
9. Entrepreneurial learning
Startups need to learn at a huge speed before running out of resources. Proactive actions
(experimentation, searching, etc.) enhance a founder's learning to start a company.To learn
effectively, founders often formulate falsifiable hypotheses, build a minimum viable product (MVP),
and conduct A/B testing.
Business Model Design
With the key learnings from market validation, design thinking, and lean startup, founders can
design a business model. However it's important not to dive into business models too early before
there is sufficient learning on market validation. Paul Graham said "What I tell founders is not to
sweat the business model too much at first. The most important task at first is to build something
people want. If you don’t do that, it won’t matter how clever your business model is."
10. Founders/entrepreneurs
Founders or co-founders are people involved in the initial launch of startup companies. Anyone can be
a co-founder, and an existing company can also be a co-founder, but the most common co-founders
are founder-CEOs, engineers, hackers, web developers, web designers and others involved in the
ground level of a new, often venture. The founder that is responsible for the overall strategy of the
startup plays the role of founder-CEOs, much like CEOs in established firms. Startup studios provide
an opportunity for founders and team members to grow along with the business they help to build. In
order to create forward momentum, founders must ensure that they provide opportunities for their
team members to grow and evolve within the company.
11. Internal startups
Internal startups are a form of corporate entrepreneurship.Large or well-established companies often
try to promote innovation by setting up "internal startups", new business divisions that operate
at arm's length from the rest of the company. Examples include Bell Labs, a research unit within
the Bell System and Target Corporation (which began as an internal startup of
the Dayton's department store chain) and threedegrees, a product developed by an internal startup
of Microsoft.To accommodate startups internally, companies, such as Google has made strides to
make purchased startups and their workers feel at home in their offices, even letting them bring
their dogs to work.
18. .
Building
Something that
nobody wants
(36%)
Hiring Poorly
(18%)
Lack of Focus
(13%)
Fail to execute
Sales and
Marketing (12%)
Not having the
right Co-
Founders (7.9%)
Not making sure
you have enogh
money(3.3%)
Chasing
Investors not
Customers
(5.4%)
Spending too
much
money(2.1%)
Failing to ask for
help (1.4%)
Ignoring social
media (7%)
TOP 10 Startups
Mistakes
20. “YOU NEED THREE THINGS TO CREATE A SUCCESSFUL STARTUP:
TO START WITH GOOD PEOPLE,
TO MAKE SOMETHING CUSTOMERS ACTUALLY WANT,
AND TO SPEND AS LITTLE MONEY AS POSSIBLE.”
SUCCESS - 1