Visualize Your Successful New Business You have a great idea for a new business. Now what? How do you turn that great idea into a viable business? Leveraging visual tools, The Startup Equation leads you step by step through the decisions you need to make to find your perfect startup model. You'll learn things such as identifying your unique entrepreneurial type, creating a great product, building a great team, finding funding and scaling in addition to other elements essential to crafting a roadmap that fits you and your business. Drawing from their extensive experience working with startups,…mehr
Visualize Your Successful New Business You have a great idea for a new business. Now what? How do you turn that great idea into a viable business? Leveraging visual tools, The Startup Equation leads you step by step through the decisions you need to make to find your perfect startup model. You'll learn things such as identifying your unique entrepreneurial type, creating a great product, building a great team, finding funding and scaling in addition to other elements essential to crafting a roadmap that fits you and your business. Drawing from their extensive experience working with startups, entrepreneurs Steve Fisher and Ja-Naé Duane offer expert advice on dealing with the challenges and opportunities that accompany every type of new business. Using visual storytelling, they provide a much-needed blueprint to understanding the startup economy. The authors include illustrative business examples from companies such as TechStars and 500Startups, as well as interviews with over 40 entrepreneurs from across the globe. Filled with insightful case studies, The Startup Equation is a vibrant, practical guide to creating a winning business model for any startup. By following the accessible visual roadmap within, you'll discover how to build your own successful business plan for your unique dream. Steve Fisher is product designer, filmmaker, entrepreneur, and startup advisor.Ja-Naé Duane is an entrepreneur, researcher, startup advisor, and professor of entrepreneurship & innovation.
Steve Fisher (Boston, MA) is co-founder of the Revolution Factory, a global network that funds, builds, and launching new products. He is also co-founder of The Revolution Institute, a global nonprofit that promotes social good. Ja-Nae Duane (Boston, MA) is a speaker, strategist, social scientist, artist, creative economist, and author of How to Start Your Business with $100.
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Acknowledgments x Foreword xi Our Story xiv SECTION 1: DISCOVERING THE EQUATION 1. The Age of YOU: The Entrepreneur 3 The Next Billion Entrepreneurs 5 Create or Die 5 The New Industrial Revolution 5 Choose Your Own Startup Adventure 11 2. The Rise of the Startup Economy 13 The New Startup Economy 13 A Tale of Two Cities: Savannah and Boulder 13 What Makes a Great Startup Economy? 14 Where is the Best Startup Economy for Your Business? 20 3. The Six Forces of Change 23 Force #1: The Anywhere, Liquid Workforce 23 Force #2: The New Work Order- Connected, Collaborative, Creative 24 Force #3: The Connected and Engaged Customer 25 Force #4: The Era of the Maker 26 Force #5: The Sharing Economy 30 Force #6: The New Creative Economy 32 Applying the Six Forces to Your Startup 37 4. The Startup Equation 39 The Equation Structure 39 Building the Foundation 40 Crafting the Equation 40 Growing the Dream 40 The Periodic Table for Startups 41 This is a Living Diagram 41 SECTION 2: BUILDING THE FOUNDATION 5. The Entrepreneur's Journey 47 Building a Great Entrepreneur 50 Finding the Leader Within 52 Entrepreneurs, Know Thyself 53 No MBA Required 59 Plan to Succeed, Not Win 59 Getting Ready . . . 61 6. The Big Idea 63 What's The Big Idea? 66 Generate Ideas with Brainstorming 68 Communicate Ideas Through Sketching 70 Utilize Collaboration to Build 72 Focus on the Right Opportunity 72 Getting Ready . . . 73 7. Strength in Agility 75 Living the Lean Startup Life 78 Discovering Your BASE Business Model 78 Thoughts on Financial Models 87 Building Your Minimum Viable Product 89 Vision Without Execution is Just Bullshit 92 The Art of the Pivot 92 Getting Ready . . . 93 SECTION 3: CRAFTING THE EXPERIENCE 8. Culture of Wow 97 Culture Starts with the Person at the Top 97 Finding the Right Culture Mix 101 Creating the Right Cultural Balance 103 Supporting Balance, Preventing Burnout 105 Closing the Creativity Gap 105 Leveraging Coworking and Makerspaces 106 Getting Ready . . . 107 9. Rewards of Great Teams 109 The Single Founder vs Co-Founding Team 112 How to Find The Right Co-founder 114 Recruiting the A-Team 114 Leveraging Great Mentors and Advisors 118 Building and Leveraging Great Advisory Boards 120 Crafting a Stellar Board of Directors 121 Getting Ready . . . 123 10. Creating Great Customer Experiences 125 Everything Starts with the Customer 129 The Six Disciplines of Great Customer Experiences 130 Discovering the Customer Journey 132 Building a Minimum Delightful Product 134 Customers as Partners 138 Leveraging Benchmarks, Testing and Customer Insights 142 Getting Ready . . . 143 11. The New Brand Order 147 Great Brands = Great Experiences 147 Building a GREAT Brand Takes GUTS! 150 Creating a Brand Identity 154 Bringing Your Brand to Life 155 How to Think About Your Brand Affinity 165 Getting Ready . . . 165 SECTION 4: GROWING THE DREAM 12. No Money, No Excuses 169 Picking a Funding Strategy 169 Leveling Up With Angels and VCs 175 The Art of the Pitch 175 Beyond Investors: Loans, Grants and Cash Flow 179 Startup Rocket Fuel: Accelerators and Incubators 189 Getting Ready . . . 191 13. Startup Marketing Alchemy 193 Seeing the Big Picture 193 Knowing Your Customers 196 The World's Shortest Marketing Plan 197 Startup Marketing Mixology 197 An Inbound Strategy to Unite Them All 203 Growth Hacking Your Startup 205 Getting Ready . . . 209 14. ROI of Happy Customers 213 Building a Sales Engine 216 Hacking Your Sales Process 221 Mavericks, Journeymen, Superstars and Trouble 224 Creating Loyalty with Brand Evangelists and Raving Fans 229 Getting Ready . . . 233 15. Scaling to New Heights 235 Scaling the Elements 238 The 3 Ms of Scaling 239 Jumping the Gun 242 Building an Engine of Growth 246 Running on All Cylinders 248 Getting Ready . . . 249 16. Always Be Innovating 251 Creating a Culture of Innovation 254 The Rules and Habits of Innovation 255 Everyone is a Design Thinker 258 The Art of SMART Innovation 260 Every Entrepreneur Needs to Be a DEO 265 Getting Ready . . . 265 17. The Exponential Power of the X-Factor 267 Driven to Succeed 270 Bouncing Up, Not Bouncing Back 271 Curiosity Killed the Bad Idea 271 A Startup State of Mind 273 Serendipity Not Included 273 Getting Ready . . . 275 SECTION 5: CHARTING THE ADVENTURE 18. Choose Your Own Adventure 279 One Equation to Rule Them All 280 The Elements of Startup Success 282 Two Questions You Must Ask 284 The SEED Board-Where the Rubber Hits the Road 285 Build Your Own SEED Board 293 Your Journey is Just Beginning 298 Notes 299
Acknowledgments x Foreword xi Our Story xiv SECTION 1: DISCOVERING THE EQUATION 1. The Age of YOU: The Entrepreneur 3 The Next Billion Entrepreneurs 5 Create or Die 5 The New Industrial Revolution 5 Choose Your Own Startup Adventure 11 2. The Rise of the Startup Economy 13 The New Startup Economy 13 A Tale of Two Cities: Savannah and Boulder 13 What Makes a Great Startup Economy? 14 Where is the Best Startup Economy for Your Business? 20 3. The Six Forces of Change 23 Force #1: The Anywhere, Liquid Workforce 23 Force #2: The New Work Order- Connected, Collaborative, Creative 24 Force #3: The Connected and Engaged Customer 25 Force #4: The Era of the Maker 26 Force #5: The Sharing Economy 30 Force #6: The New Creative Economy 32 Applying the Six Forces to Your Startup 37 4. The Startup Equation 39 The Equation Structure 39 Building the Foundation 40 Crafting the Equation 40 Growing the Dream 40 The Periodic Table for Startups 41 This is a Living Diagram 41 SECTION 2: BUILDING THE FOUNDATION 5. The Entrepreneur's Journey 47 Building a Great Entrepreneur 50 Finding the Leader Within 52 Entrepreneurs, Know Thyself 53 No MBA Required 59 Plan to Succeed, Not Win 59 Getting Ready . . . 61 6. The Big Idea 63 What's The Big Idea? 66 Generate Ideas with Brainstorming 68 Communicate Ideas Through Sketching 70 Utilize Collaboration to Build 72 Focus on the Right Opportunity 72 Getting Ready . . . 73 7. Strength in Agility 75 Living the Lean Startup Life 78 Discovering Your BASE Business Model 78 Thoughts on Financial Models 87 Building Your Minimum Viable Product 89 Vision Without Execution is Just Bullshit 92 The Art of the Pivot 92 Getting Ready . . . 93 SECTION 3: CRAFTING THE EXPERIENCE 8. Culture of Wow 97 Culture Starts with the Person at the Top 97 Finding the Right Culture Mix 101 Creating the Right Cultural Balance 103 Supporting Balance, Preventing Burnout 105 Closing the Creativity Gap 105 Leveraging Coworking and Makerspaces 106 Getting Ready . . . 107 9. Rewards of Great Teams 109 The Single Founder vs Co-Founding Team 112 How to Find The Right Co-founder 114 Recruiting the A-Team 114 Leveraging Great Mentors and Advisors 118 Building and Leveraging Great Advisory Boards 120 Crafting a Stellar Board of Directors 121 Getting Ready . . . 123 10. Creating Great Customer Experiences 125 Everything Starts with the Customer 129 The Six Disciplines of Great Customer Experiences 130 Discovering the Customer Journey 132 Building a Minimum Delightful Product 134 Customers as Partners 138 Leveraging Benchmarks, Testing and Customer Insights 142 Getting Ready . . . 143 11. The New Brand Order 147 Great Brands = Great Experiences 147 Building a GREAT Brand Takes GUTS! 150 Creating a Brand Identity 154 Bringing Your Brand to Life 155 How to Think About Your Brand Affinity 165 Getting Ready . . . 165 SECTION 4: GROWING THE DREAM 12. No Money, No Excuses 169 Picking a Funding Strategy 169 Leveling Up With Angels and VCs 175 The Art of the Pitch 175 Beyond Investors: Loans, Grants and Cash Flow 179 Startup Rocket Fuel: Accelerators and Incubators 189 Getting Ready . . . 191 13. Startup Marketing Alchemy 193 Seeing the Big Picture 193 Knowing Your Customers 196 The World's Shortest Marketing Plan 197 Startup Marketing Mixology 197 An Inbound Strategy to Unite Them All 203 Growth Hacking Your Startup 205 Getting Ready . . . 209 14. ROI of Happy Customers 213 Building a Sales Engine 216 Hacking Your Sales Process 221 Mavericks, Journeymen, Superstars and Trouble 224 Creating Loyalty with Brand Evangelists and Raving Fans 229 Getting Ready . . . 233 15. Scaling to New Heights 235 Scaling the Elements 238 The 3 Ms of Scaling 239 Jumping the Gun 242 Building an Engine of Growth 246 Running on All Cylinders 248 Getting Ready . . . 249 16. Always Be Innovating 251 Creating a Culture of Innovation 254 The Rules and Habits of Innovation 255 Everyone is a Design Thinker 258 The Art of SMART Innovation 260 Every Entrepreneur Needs to Be a DEO 265 Getting Ready . . . 265 17. The Exponential Power of the X-Factor 267 Driven to Succeed 270 Bouncing Up, Not Bouncing Back 271 Curiosity Killed the Bad Idea 271 A Startup State of Mind 273 Serendipity Not Included 273 Getting Ready . . . 275 SECTION 5: CHARTING THE ADVENTURE 18. Choose Your Own Adventure 279 One Equation to Rule Them All 280 The Elements of Startup Success 282 Two Questions You Must Ask 284 The SEED Board-Where the Rubber Hits the Road 285 Build Your Own SEED Board 293 Your Journey is Just Beginning 298 Notes 299
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