Early adopters are critical to any company that introduces a new product or service. Therefore, identifying the right early adopters is an important element in the company’s business model and go-to-market strategy.
Often startup companies develop a technology that has multiple applications and potential markets. Most entrepreneurs have learned that a startup company must focus on a single market, at least in its early stages. I would argue that this holds true for latter stages too. Trying to address multiple markets, with conflicting customer needs, can spell […]
This post was originally written for my wife’s blog addressing aspiring cake decorators. However, after I wrote it, I realized that it’s very relevant for any small business entrepreneur. So, I adapted it to address that broader audience. Some of my examples are taken from the world of cake decorators. And yet, they are still very relevant to […]
I recently saw an inspirational TED talk by Sunjit ‘Bunker’ Roy, who is an educator and a social entrepreneur. He started what he calls the barefoot movement in India. It was later spread to other parts of the world including Afghanistan and Africa. His primary idea was to create colleges for the poor in […]
One of the most common dilemmas of first-time entrepreneurs is when should they make the critical move and start their new ventures. When is the right time to take the plunge? When is it time to turn what has up till now been a side project into your main focus in life? I’ve recently been […]
When I work with entrepreneurs on developing their ideas, and starting their new ventures, I always start off with three main questions (and several other follow-on questions). Question 1: What problem or need are you trying to solve? First, a good idea must address a real problem or a need that people (or businesses) have. In […]