ENT 526 Lecture Notes - Lecture 1: Lean Startup, Creative Destruction, Renting
17 Oct 2015
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Lec 1 (sept 8: exam format: mix and match, short answer, application, mt: 2 hours, ft: 3 hours, startup school: tuesday night, 6-9, online as well, start up , small medium business, the 3 things that separate. Dream of being a global company (scalabilitiy: small biz just wants to survive. Searching for its business model (google didn"t know their biz model, pizza stores biz model is simple) Potential to be bill dollar companies: what do entrepreneurs all have in common, climbers, campers, quitters. High adversity quotients: measure of a person"s resilience. Post facto success (after the fact success) Actions lead to creative destruction: the new idea was so much better than the old idea that we no longer need the old idea (text, emails vs mail) (mp3 vs walkmans) In order to overcome the existing player, you must be 10 times better: a little better is not enough as the existing player already has market competition.
