Building Sustainable Businesses in Today's Economy

Startup success can be engineered by following the right process

The question is not, "Can this product be built?"

In today's economy, nearly any product that can be imagined can be created.

The more relevant questions are "Should this product be built?" and "Can we establish a sustainable business around this set of products and services?" If you cannot fail, you cannot learn.

The value hypothesis tests whether a product or service truly provides value to customers once they use it.

Startup success is not solely dependent on good genes or being in the right place at the right time.

It can be achieved by following the right process, which can be learned and taught.

Entrepreneurship includes anyone working within the definition of a startup, a human institution designed to create new products and services under extreme uncertainty.

Startups exist not only to make products, make money, or serve customers but also to learn how to build a sustainable business.

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The main activity of a startup is to turn ideas into products, measure customer response, and then determine whether to pivot or persevere.

In the Lean Startup model, an experiment is not just a theoretical inquiry; it is also a first product.

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Do consumers recognize that they have the problem you are trying to solve? If there was a solution, would they buy it? Would they buy it from you? Can you build a solution for that problem?

Success is not delivering a feature but learning how to solve the customer's problem.

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