Fail Fast or Win Big

Fail Fast or Win Big

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Entrepreneurs have long been taught that to be successful, they need to spend months perfecting a business plan and finding investors before they can finally launch their business. But with the marketplace changing at lightning speed, this notion is not only outdateda€”ita€™s costly. Therea€™s no point to building a business in a bubble. Todaya€™s entrepreneurs must embrace the idea of a€œfailing fast.a€ They need to connect with real customers and determine quickly whether their idea is worth pursuing, needs new direction, or should be abandoned altogether. Fail Fast or Win Big shows entrepreneurs how to: Create a rapid prototype of their product or service a€c Develop a business model instead of a business plan a€c Test it repeatedly with customers so they can spot failure early a€c Continue to refine the model based on customer interactions a€c Leverage their network and resources in order to run lean The longer it takes to launch a company, the more changes there will have been in the market place. Featuring real-life examples of entrepreneurs who set out to fail fast and ended up winning big, this ground breaking guide reveals how the right kind of risk can really pay off.In any event, you validate the problem or opportunity and test a potential solution with real customers. If they react positively, you rapidly improve the prototype and test it again. For instance, you try to add a unique element to an existing product or service that customers need and you can ... If you cana#39;t deliver something unique, then get ready for the competitors. ... Before 2008, Starbucks never advertised on television or print media, and then they began to do so only because of aanbsp;...


Title:Fail Fast or Win Big
Author: Bernhard Schroeder
Publisher:AMACOM Div American Mgmt Assn - 2015-02-18
ISBN-13:

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