Disciplined Entrepreneurship MIT

Voy a copiar el índice del libro y según vaya estudiando haré comentarios para hacer un aprendizaje más sólido.

“This is the book I wish I’d had when I was starting out—concise, great examples, in plain English, combining classic entrepreneurship theory with what’s happening in today’s startup world. If you’re a serious entrepreneur, read it carefully and keep it close at hand for the journey ahead.”


Frederic Kerrest, Co-Founder, Okta, and MIT Patrick J. McGovern, Jr. Entrepreneurship Award recipient

“According to conventional wisdom, entrepreneurship is solely an innate trait. Nothing could be further from the truth. Entrepreneurship is a learned skill which can be honed through crisp execution. This book can help every entrepreneur dramatically increase the likelihood of success by providing step-bystep guidance on how to approach starting a new business. I recommend it to all ambitious entrepreneurs.”


Doug Leone, Managing Partner, Sequoia Capital

“Disciplined Entrepreneurship is highly relevant and is on my recommended reading list for
entrepreneurship students and entrepreneurs. It moves the reader forward through practical and important steps that they might otherwise miss, in their innovation-driven startup journey.”


Professor Gregory B. Vit, Director, the Dobson Centre for Entrepreneurial Studies, McGill University

Introduction

This book also provides a common language to discuss key aspects of venture creation so that you can more effectively discuss your new venture with advisors, mentors, and fellow entrepreneurs.

The result of this integrated toolbox with a common language is what we at MIT like to call “disciplined entrepreneurship.” Some people tell me that entrepreneurship should not be disciplined, but chaotic and unpredictable—and it is. But that is precisely why a framework to attack problems in a systematic manner is extremely valuable.

To be a successful entrepreneur, you must have great and innovative products. Products can be physical goods, but also services or the delivery of information. All the other factors that influence success are nothing without a product. And the process of making a great product can be taught. This book will teach you how to systematically improve your odds of making a great product.

3 Myths

  • Teams start companies. Importantly, a bigger team actually adds to the odds of success. More founders = better odds of success.
  • Instead, research shows that more important than being charismatic, entrepreneurs need to be effective communicators, recruiters, and salespeople.
  • The third myth is that there is an entrepreneurship gene, Instead, there are real skills that increase the odds of success, such as people management, sales skills, and the topic of this book, product conception and delivery. These skills can be taught. They are not genetically gifted to a few lucky souls.

There are two distinct types of entrepreneurship.

Small and medium enterprise entrepreneurship (SME) and Innovation driven enterprise entrepreneurship (IDE).

What Is Innovation?

Innovation has become an increasingly clichéd term, but it has a simple definition, which I have adapted from MIT professor Ed Roberts6: Innovation = Invention ∗ Commercialization

Six Themes of the 24 Steps

Step 0: Getting Started

Three Ways to Start a New Venture

How to Go from “I Have a Passion” to “I Have an Idea or Technology”

Finding a Founding Team: Entrepreneurship Is not a Solo Sport

Where You Go from Here

Step 1: Market Segmentation

In This Step, You Will:

The Single Necessary and Sufficient Condition for a Business

Create a New Market That You Will Dominate

When “Paying Customers” Lead You Astray

Complex Paying Customers: Primary Versus Secondary Customers

and Two-Sided Markets

How to Do a Market Segmentation

How Long Should I Spend on Market Segmentation?

Example

Summary

Step 2: Select a Beachhead Market

In This Step, You Will:

How to Choose Your Beachhead Market

Your Beachhead Market Still Needs to Be Segmented Further

Example

Summary

Step 3: Build an End User Profile

In This Step, You Will:

Why Target a Specific Demographic?

Does Your Founding Team Include Someone in the End User Profile?

Examples

Summary

Step 4: Calculate the Total Addressable Market (TAM) Size for the

Beachhead Market

In This Step, You Will:

Bottom-Up Analysis

Top-Down Analysis

From “How Many End Users?” to “Show Me the Money”

What Should My Tam Be?

Examples

Summary

Step 5: Profile the Persona for the Beachhead Market

In This Step, You Will:

How to Choose and Profile Your Persona

The Persona Is more than Just an Exercise

Should I Create Multiple Personas? If so, When?

The Persona Helps You Focus on What to Do—and What Not to Do

Examples

Summary

Step 6: Full Life Cycle Use Case

In This Step, You Will:

What to Include in a Full Life Cycle Use Case

Examples

Summary

Step 7: High-Level Product Specification

In This Step, You Will:

Creating a High-Level Product Specification

Then, Make a Product Brochure

Examples

Summary

Step 8: Quantify the Value Proposition

In This Step, You Will:

Aligning Your Value Proposition with the Persona’s Priorities

Keep it Simple: The “as-is” State Versus the “Possible” State with

Your Product

Examples

Summary

Step 9: Identify Your Next 10 Customers

In This Step, You Will:

How to Complete This Step

Is the Current Persona Valid?

Dealing with Negative Feedback

Examples

Summary

Step 10: Define Your Core

In This Step, You Will:

A few Examples of Core

How to Define your Core

What about Intellectual Property? or Culture?

Core Is Different than Competitive Position

First-Mover Advantage Is not a Core

Locking Up Suppliers Is Typically not a Core

Example

Summary

Step 11: Chart Your Competitive Position

In This Step, You Will:

The Toughest Competitor of all: The Customer’s Status Quo

How to Chart Your Competitive Position

Examples

Summary

Step 12: Determine the Customer’s Decision-Making Unit (DMU)

In This Step, You Will:

Primary Roles in the Decision-Making Unit

Additional Roles in the Decision-Making Unit (DMU)

How to Determine the Decision-Making Unit

Examples

Summary

Step 13: Map the Process to Acquire a Paying Customer

In This Step, You Will:

How to Map the Process

Budgeting/Purchasing Authority

Time Is of the Essence

Consumer Versus B2B

Examples

Summary

Step 14: Calculate the Total Addressable Market Size for Follow-on

Markets

In This Step, You Will:

How to Calculate Broader Tam

Example

Summary

Step 15: Design a Business Model

In This Step, You Will:

A Business Model Is not Pricing

Key Factors When Designing a Business Model

Free Is not a Business Model

Generalized Categories of Business Models

Think Outside the Existing Categories

Summary

Step 16: Set Your Pricing Framework

In This Step, You Will:

Basic Pricing Concepts

Example

Summary

Step 17: Calculate the Lifetime Value (LTV) of an Acquired Customer

In This Step, You Will:

Key Inputs to Calculate the LTV

How to Calculate Lifetime Value

How to Calculate the LTV: “Widget” Plus Yearly Maintenance Fee

Important Considerations

Summary

Step 18: Map the Sales Process to Acquire a Customer

In This Step, You Will:

Four Factors Entrepreneurs Often Overlook about Customer

Acquisition Costs

Your Sales Process Changes over Time

How to Map Your Sales Process

Sales Process Comparisons: Zynga, Groupon, Linkedin, Facebook

Example

Summary

Step 19: Calculate the Cost of Customer Acquisition (COCA)

In This Step, You Will:

Why Coca Matters

How not to Calculate Coca: A bottom-up Perspective

The Right Way to Calculate Coca: A top-down Perspective

How to Reduce Coca

Examples

Summary

Step 20: Identify Key Assumptions

In This Step, You Will:

How to Identify Your Key Assumptions

Example

Summary

Step 21: Test Key Assumptions

In This Step, You Will:

Now That We Have Identified The Assumptions, Let’s Test them

Examples of Easily Testable Assumptions: Student Teams

Summary

Step 22: Define the Minimum Viable Business Product (MVBP)

In This Step, You Will:

Three Conditions of a Minimum Viable Business Product

Examples

Summary

Step 23: Show That “The Dogs Will Eat the Dog Food”

In This Step, You Will:

Examples

Summary

Step 24: Develop a Product Plan

In This Step, You Will:

Example

Summary

Postlude: A Business Is more than 24 Steps