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Why Are Instagram & Foursquare Winning? Consumer Behavior.

Instagram

I read two quotes today that hit the nail directly on the head.  The secret to building a successful consumer startup isn't just solving a problem, it's also unlocking the behaviorial aspects of adoption and use.

On Foursquare's addictiveness, by Dennis Crowley (the Founder & CEO):  "It's like pulling the lever on a slot machine", referring to the unlocking badges and mayorships without knowing beforehand if it would happen.

On Instagram's addictiveness, by Tuhin Kumar: "Instagram solves the problem of sharing our moments effortlessly with the world and in a way that makes us look creative.  In short, what Twitter is to text, Instagram is to photography. I love it. And it’s rather amazing that it’s grown so fast with nothing other than an iOS client. Not only are there no clients for any other devices (yet), but you can’t even use it via the web."

 

Startup Lifestyle

Booth Polsky Center for Entrepreneurship 2010 Annual Report

From the opening jacket cover:

The Polsky Center for Entrepreneurship at Chicago Booth advances the knowledge and practice of entrepreneurship and innovation. The center supports entrepreneurial learning and collaboration through its cutting-edge curriculum, innovative hands-on learning experiences, leading faculty research, conferences, mentorship, and community
and global outreach programs.

Click here to download:
PolskyAR2010.pdf (1.26 MB)
(download)

Startup Lifestyle

What Correlates With Entrepreneurial Success?

From the book Illusions of Entrepreneurship by Scott Shane

1. Focusing on a single product/service in a single market
2. Emphasizing marketing early
3. Stressing financial controls
4. NOT competing on price (rather service, quality, uniqueness, availability)
5. Professional experience such as management, industry, P&L, entrepreneurial
6. Organizing systematically through opportunity identification, business planning, resource acquisition, prototyping, and launching
7. Getting a professional degree

This is scientific research, NOT anecdotal. So to all you people still debating MBA versus Startup, why not just do both?

Startup Lifestyle: http://www.seanmeverett.com

Global Entrepreneurship Report: 73 Pages of Awesomeness

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If you've ever wondered how the US entrepreneurial activity compares to every major country in the world, well, you're in luck.  This 73-page PDF has enough data, charts, graphs and detail to keep you busy until 2012.  There are some pretty surprising findings in here.

Click here to download:
GEM_Global_2009_Report.pdf (4.5 MB)
(download)

Entrepreneurs unite!