Disciplined Entrepreneurship

The single necessary and sufficient condition for a business is a paying customer. The day someone pays you money for your product or service, you have a business, and not a day before.

Be sure to make the numbers in the “possible” state ones that you are highly confident your product can attain. You do not want to be too aggressive and fall short of what you set as an expectation. Often, entrepreneurs are much too aggressive in claiming how beneficial their product is to customers. As a result, they fall short of expectations and

The business “rewards” for these founders are primarily in the form of personal independence and cash flow from the business.

the capability to commercialize an invention is necessary for real innovation. An entrepreneur, then, serves primarily as the commercialization agent.

The Quantified Value Proposition is framed by the top priority of the Persona. You first need to understand and map the “as-is” state in a way familiar to the customer, using the Full Life Cycle Use Case. Then, map out the “possible” state of using your product, clearly indicating where the customer receives value based on the Persona’s top priorit

User Experience: There are a multitude of new strategies that have evolved into potential Core strengths and a common one now is user experience (UX). This seems to have been embraced by the market (or at least a significant part of it), which is a major contributor to the recent uptick in entrepreneurial activity and success in New York City, wher

Creating an innovative product where no market currently exists is essential to the success of a startup.

You will now create a value proposition focused on the criteria you identified as your Persona’s top priority. If their top priority is time to market for producing goods, and your product’s value is that it will lower the cost of production, your value proposition—“Our product saves $XX per month”—will not persuade your target customer to buy your

Focus on end users, not customers, because you will need a committed group of end users to have a sustainable business. A school doesn’t use a textbook, or a chalkboard, or a lesson plan, but teachers do.