Category: Launch for Growth to Success

10.1 Launching the Imperfect Business: Lean Startup There is no such thing as launching a perfect business. A startup requires time to clarify its identity, market, product, and business model through the build-measure-learn loop, which requires businesses to describe or build a prototype of a product, ask for feedback from potential and actual early customers, measure their responses, and learn from that…

Learning Objectives By the end of this section, you will be able to: The work of the entrepreneur is not over after the launch of a business. There are constant changes to manage. Sustained business growth requires a company to improve profits by increasing its revenue, cutting costs, or both. Increasing profit yearly indicates improvement…

Learning Objectives By the end of this section, you will be able to: In this chapter, we’ve discussed how to start the imperfect business using the lean startup approach. We’ve looked at the build-measure-learn loop and how to test an MVP. We’ve also covered how to deal with fear of failure and how to overcome…

Learning Objectives By the end of this section, you will be able to: People usually have different reasons for starting a business. Some of the reasons—other than the idea they’ve hit upon—include the freedom to set their own hours, spend more time with family, be their own boss, and make money. However, in many cases,…

Learning Objectives By the end of this section, students will be able to: Your goal in your venture is to achieve success—ideally, fairly quickly—but most successful entrepreneurs experience some failures along the way. While these setbacks can be discouraging, they provide lessons and experiences that can lead to eventual success. Whether a new business is…

Learning Objectives By the end of this section, you will be able to: As you can see from the Dropbox example, businesses can function without being perfect. The company initially provided a short video description of the Dropbox product without even having it coded to the actual program first.5 This way, they could test the idea and receive customer feedback…

Figure 10.1 Dropbox, founded by Drew Houston and Arash Ferdowsi, has realized unprecedented growth, as the company is valued in the billions of dollars. (credit: modification of “Dropbox” by Ian Lamont/Flickr, CC BY 2.0) Chapter Outline 10.1 Launching the Imperfect Business: Lean Startup 10.2 Why Early Failure Can Lead to Success Later 10.3 The Challenging Truth about Business Ownership 10.4 Managing,…