I’m a sucker for reading a good book and expanding my knowledge. What about you? Check out this new title from Wiley.
If you’re a STARTUP then this book will give you an extra nugget of wisdom and help you avoid failures or fail fast!
Every startup or corporate entrepreneur makes certain assumptions about the market, technology, talent, organizational positioning, and the economy surrounding their project, often largely based on guesswork. These untested assumptions get baked into business plans to which their creators, showing admirable drive and determination, doggedly adhere to, come hell or high water and disaster ensues.
Based on more than 15 years of academic research and many more years of experience in business and corporate startups, Remy Arteaga, Joanne Hyland and their book Pivot: How Top Entrepreneurs Adapt and Change Course to Find Ultimate Success address topics ranging from resources and organizational uncertainties to the scope and scale of new business opportunities.
“While such a go-with-your-gut, pedal-to-the-metal approach to managing business startups may make for great film and business folklore, it bears little resemblance to reality, and emulating it has been the ruination of many a promising startup,” says Arteaga. “Groupon, PayPal, Hotmail, YouTube, and Twitter are just a few notable examples of successful ventures that began life as something altogether different. Fortunately, their creators had the wisdom to abandon their original models and the courage to change course, often dramatically, at least once on their road to riches.”
Arteaga and Hyland go beyond the lean startup model to provide readers with a revolutionary, three-phase approach consisting of:
1. Plant: The Discovery phase. Learn proven strategies and techniques for generating fresh ideas, conceptualizing new business opportunities, clearly stating new business concepts, and defining a compelling business startup vision.
2. Pivot: The Incubation phase. Arm yourself with powerful tools for testing underlying assumptions and identifying business uncertainties, while developing actionable business experiments that quickly get teams to their pivot point.
3. Propel: The Acceleration phase. Discover time-tested methods for precisely setting the pace of business scale-up and growth so as to capture the opportunity, without exceeding organizational tolerances or exhausting limited resources.