
Startup Lifestyle: http://www.seanmeverett.com
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."
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.
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
I love red, must be because I'm a Taurus. Rawr!
Startups: http://www.seanmeverett.com
Marketing: http://evolyte.com