You have come through stage two successfully. You’ve confirmed the value proposition of your product. You have put in place basic processes to reliably deliver it, capture and satisfy customers, and run the company. Now you must make the enterprise financially secure by making sure it can consistently produce value under changing market and competitive conditions. That means that what you did to deliver your product crudely but reliably to your first wave of customers must be rethought, redesigned, and rebuilt in order to meet the demands of new customers with higher expectations.Link
News & Views
By the end of stage one of enterprise maturity, you have refined your original idea, prototyped your product or service, and found real customers for that initial offering. You’ve accomplished the principal task of the first stage -- customer validation.
This week's post on the Entrepreneur website takes the reader in stage two, your principal task is operational validation -- getting up and running as a rudimentary business.
An important part of the first stage of organizational maturity is finding your company's target audience (discussed in detail in Startup Leadership). In this week's post on the Entrepreneur website, I explore how to find your audience.Link
In Startup Leadership, I discuss the core concept of the four stages of enterprise maturity. Every enterprise must pass through each stage in order to pass to the next. Attempting to skip a stage invites financial and managerial disaster. This week's post on the Entrepreneur website takes the reader through the four stages in detail.Link
Most entrepreneurs fail after having successfully launched their companies. I recently had the opportunity to speak at South by Southwest Interactive with my former students Annie Cardinal and Guillaume Delepine. We discussed why so many entrepreneurs fail and how to…Read More
In Startup Leadership, I interviewed Wendy Kopp about her experiences founding and growing Teach for America (TFA), a non-profit which trains and places the nation’s brightest college graduates in public school teaching positions in underprivileged communities to help expand students’…Read More
For a very special session at SXSW 2016, Derek Lidow interviews 2 legendary founders–Teach for America’s Wendy Kopp and AppNexus’s Brian O’Kelley–who address work/life balance.Read More
Hundreds, maybe thousands, of aspiring entrepreneurs will show up this month at the SXSW festival in search of funding for their startups. Some will succeed and go on to create fast-growing, promising companies.Link
Understanding your motivations for starting your business is essential for weathering the storms of entrepreneurship. Read my post on Entrepreneur, 5 Questions to Help You Find Out Why You Really Want to Be an Entrepreneur to learn how to define your motivations and use that knowledge to be a better leader.Link