The Customer-Funded Business

Start, Finance, or Grow Your Company with Your Customers' Cash

Author: John Mullins

Publisher: John Wiley & Sons

ISBN: 1118879139

Category: Business & Economics

Page: 304

View: 8218

Who needs investors? More than two generations ago, the venture capital community – VCs, business angels, incubators and others – convinced the entrepreneurial world that writing business plans and raising venture capital constituted the twin centerpieces of entrepreneurial endeavor. They did so for good reasons: the sometimes astonishing returns they've delivered to their investors and the astonishingly large companies that their ecosystem has created. But the vast majority of fast-growing companies never take any venture capital. So where does the money come from to start and grow their companies? From a much more agreeable and hospitable source, their customers. That's exactly what Michael Dell, Bill Gates and Banana Republic's Mel and Patricia Ziegler did to get their companies up and running and turn them into iconic brands. In The Customer Funded Business, best-selling author John Mullins uncovers five novel approaches that scrappy and innovative 21st century entrepreneurs working in companies large and small have ingeniously adapted from their predecessors like Dell, Gates, and the Zieglers: Matchmaker models (Airbnb) Pay-in-advance models (Threadless) Subscription models (TutorVista) Scarcity models (Vente Privee) Service-to-product models (GoViral) Through the captivating stories of these and other inspiring companies from around the world, Mullins brings to life the five models and identifies the questions that angel or other investors will – and should! – ask of entrepreneurs or corporate innovators seeking to apply them. Drawing on in-depth interviews with entrepreneurs and investors who have actually put these models to use, Mullins goes on to address the key implementation issues that characterize each of the models: when to apply them, how best to apply them, and the pitfalls to watch out for. Whether you're an aspiring entrepreneur lacking the start-up capital you need, an early-stage entrepreneur trying to get your cash-starved venture into take-off mode, an intrapreneur seeking funding within an established company, or an angel investor or mentor who supports high-potential ventures, this book offers the most sure-footed path to starting, financing, or growing your venture. John Mullins is the author of The New Business Road Test and, with Randy Komisar, the widely acclaimed Getting to Plan B.

The Customer-Funded Business

Start, Finance, Or Grow Your Company with Your Customers' Cash

Author: John Mullins

Publisher: John Wiley & Sons

ISBN: 9781118878859

Category: Business & Economics

Page: 304

View: 734

Provides an overview of business plans that didn't require an influx of cash from a venture capitalist, but rather received money from their customers and describes five ingenious approaches used by innovative entrepreneurs at companies like Threadless, TutorVista and GoViral.

Getting to Plan B

Breaking Through to a Better Business Model

Author: John Mullins,Randy Komisar

Publisher: Harvard Business Press

ISBN: 1422152693

Category: Business & Economics

Page: 224

View: 8486

You have a new venture in mind. And you've crafted a business plan so detailed it's a work of art. Don't get too attached to it. As John Mullins and Randy Komisar explain in Getting to Plan B, new businesses are fraught with uncertainty. To succeed, you must change the plan in real time as the inevitable challenges arise. In fact, studies show that entrepreneurs who stick slavishly to their Plan A stand a greater chance of failing-and that many successful businesses barely resemble their founders' original idea. The authors provide a rigorous process for stress testing your Plan A and determining how to alter it so your business makes money, solves customers' needs, and endures. You'll discover strategies for: -Identifying the leap-of-faith assumptions hidden in your plan -Testing those assumptions and unearthing why the plan might not work -Reconfiguring the five components of your business model-revenue model, gross margin model, operating model, working capital model, and investment model-to create a sounder Plan B. Filled with success stories and cautionary tales, this book offers real cases illustrating the authors' unique process. Whether your idea is for a start-up or a new business unit within your organization, Getting to Plan B contains the road map you need to reach success.

Bootstrapping Your Business

Start and Grow a Successful Company with Almost No Money

Author: Greg Gianforte,Marcus Gibson

Publisher: Createspace Independent Pub

ISBN: 9781419669552

Category: Business & Economics

Page: 258

View: 5897

Greg Gianforte, the nation's top Bootstrapper, shows you the advantages of Bootstrapping vs. traditionally financed start-ups. You'll also learn how the unconventional Bootstrapping mindset-inventive, pioneering, and skeptical of conventional wisdom-applies to you and your business. With Bootstrapping Your Business at your side, you'll gain the advantage you need to outperform the competition-and succeed in today's take-no-prisoners marketplace.

The Four Steps to the Epiphany

Successful Strategies for Products that Win

Author: Steve Blank

Publisher: BookBaby

ISBN: 0989200523

Category: Business & Economics

Page: 370

View: 908

The bestselling classic that launched 10,000 startups and new corporate ventures - The Four Steps to the Epiphany is one of the most influential and practical business books of all time. The Four Steps to the Epiphany launched the Lean Startup approach to new ventures. It was the first book to offer that startups are not smaller versions of large companies and that new ventures are different than existing ones. Startups search for business models while existing companies execute them. The book offers the practical and proven four-step Customer Development process for search and offers insight into what makes some startups successful and leaves others selling off their furniture. Rather than blindly execute a plan, The Four Steps helps uncover flaws in product and business plans and correct them before they become costly. Rapid iteration, customer feedback, testing your assumptions are all explained in this book. Packed with concrete examples of what to do, how to do it and when to do it, the book will leave you with new skills to organize sales, marketing and your business for success. If your organization is starting a new venture, and you're thinking how to successfully organize sales, marketing and business development you need The Four Steps to the Epiphany. Essential reading for anyone starting something new.

The Customer-Funded Business: Start, Finance, or Grow Your Company with Your Customers' Cash

Book Review

Author: PCC

Publisher: PCC

ISBN: 8869096629

Category: Business & Economics

Page: N.A

View: 8206

Who needs investors? More than two generations ago, the venture capital community– VCs, business angels, incubators and others –convinced the entrepreneurial world that writing business plans andraising venture capital constituted the twin centerpieces ofentrepreneurial endeavor. They did so for good reasons: thesometimes astonishing returns they've delivered to their investorsand the astonishingly large companies that their ecosystem hascreated. But the vast majority of fast-growing companies never takeany venture capital. So where does the money come from to startand grow their companies? From a much more agreeable and hospitablesource, their customers. That's exactly what Michael Dell, BillGates and Banana Republic's Mel and Patricia Ziegler did to gettheir companies up and running and turn them into iconicbrands. In The Customer Funded Business, best-selling author JohnMullins uncovers five novel approaches that scrappy and innovative21st century entrepreneurs working in companies large and smallhave ingeniously adapted from their predecessors like Dell, Gates,and the Zieglers: Matchmaker models (Airbnb) Pay-in-advance models (Threadless) Subscription models (TutorVista) Scarcity models (Vente Privee) Service-to-product models (GoViral) Through the captivating stories of these and other inspiringcompanies from around the world, Mullins brings to life the fivemodels and identifies the questions that angel or other investorswill – and should! – ask of entrepreneurs or corporateinnovators seeking to apply them. Drawing on in-depth interviewswith entrepreneurs and investors who have actually put these modelsto use, Mullins goes on to address the key implementation issuesthat characterize each of the models: when to apply them, how bestto apply them, and the pitfalls to watch out for. Whether you're an aspiring entrepreneur lacking the start-upcapital you need, an early-stage entrepreneur trying to get yourcash-starved venture into take-off mode, an intrapreneur seekingfunding within an established company, or an angel investor ormentor who supports high-potential ventures, this book offers themost sure-footed path to starting, financing, or growingyour venture. John Mullins is the author of The New Business Road Testand, with Randy Komisar, the widely acclaimed Getting to PlanB.

Venture Deals

Be Smarter Than Your Lawyer and Venture Capitalist

Author: Brad Feld,Jason Mendelson

Publisher: John Wiley & Sons

ISBN: 1118538676

Category: Business & Economics

Page: 272

View: 7197

A full revised edition of the Wall Street Journal bestselling book on startups and entrepreneurship As each new generation of entrepreneurs emerges, there is a renewed interest in how venture capital deals come together. Yet there is little reliable information focused on venture capital deals. Nobody understands this better than authors Brad Feld and Jason Mendelson. For more than twenty years, they've been involved in hundreds of venture capital financings, and now, with the Second Edition of Venture Deals, they continue to share their experiences in this field with you. Engaging and informative, this reliable resource skillfully outlines the essential elements of the venture capital term sheet—from terms related to economics to terms related to control. It strives to give a balanced view of the particular terms along with the strategies to getting to a fair deal. In addition to examining the nuts and bolts of the term sheet, Venture Deals, Second Edition also introduces you to the various participants in the process and discusses how fundraising works. Fully updated to reflect the intricacies of startups and entrepreneurship in today's dynamic economic environment Offers valuable insights into venture capital deal structure and strategies Brings a level of transparency to a process that is rarely well understood Whether you're an experienced or aspiring entrepreneur, venture capitalist, or lawyer who partakes in these particular types of deals, you will benefit from the insights found throughout this new book.

The New Business Road Test

What entrepreneurs and investors should do before launching a lean start-up

Author: John Mullins

Publisher: Pearson UK

ISBN: 1292208414

Category: Business & Economics

Page: 360

View: 3585

ROAD TEST YOUR IDEA BEFORE YOU LAUNCH YOUR LEAN START-UP Thinking about starting a new business? Stop! Is there a genuine market for your idea? Do you really want to compete in that industry? Are you the right person to pursue it? No matter how talented you are or how much capital you have, if you’re pursuing a fundamentally flawed opportunity then you’re heading for failure. So before you launch your lean start-up, take your idea for a test drive and make sure it has a fighting chance of working. Now in its fifth edition, The New Business Road Test is the essential handbook for anyone wanting to launch a start-up. The new and fully updated case studies – Ella's Kitchen, Whole Foods, eBay and more – and ‘seven domains’ framework will help you avoid impending disaster and enhance your chances of achieving your entrepreneurial dreams. This book will help you answer the live-or-die questions: · Are the market and industry attractive? · Does the opportunity offer both customer benefits as well as competitive and economic sustainability? · Can you deliver the results you seek? The accompanying app (available on iTunes and Android) makes it easy to assemble all the evidence you need for your road test, wherever you are. www.newbusinessroadtest.com

Leaving Microsoft to Change the World

Author: John Wood

Publisher: Penguin Books

ISBN: 9781408261286

Category: Education, Rural

Page: 56

View: 705

'Penguin Readers' are edited into simplified text together with audio CD recordings containing the full simplified text. They are ideal for all English language students.

The Mom Test

How to Talk to Customers and Learn If Your Business is a Good Idea when Everyone is Lying to You

Author: Rob Fitzpatrick

Publisher: Createspace Independent Publishing Platform

ISBN: 9781492180746

Category: Business communication

Page: 135

View: 3489

The Mom Test is a quick, practical guide that will save you time, money, and heartbreak. They say you shouldn't ask your mom whether your business is a good idea, because she loves you and will lie to you. This is technically true, but it misses the point. You shouldn't ask anyone if your business is a good idea. It's a bad question and everyone will lie to you at least a little . As a matter of fact, it's not their responsibility to tell you the truth. It's your responsibility to find it and it's worth doing right . Talking to customers is one of the foundational skills of both Customer Development and Lean Startup. We all know we're supposed to do it, but nobody seems willing to admit that it's easy to screw up and hard to do right. This book is going to show you how customer conversations go wrong and how you can do better.

The New Business Road Test

What Entrepreneurs and Executives Should Do Before Writing a Business Plan

Author: John Walker Mullins

Publisher: Pearson Education

ISBN: 9780273708056

Category: Business & Economics

Page: 305

View: 9954

Give your business the chance to be one of those that make it.";Mullins has hit the nail on the head. The New Business Road Test for the first time successfully defines the starting point for a business. He delivers a clear and concise road map for anyone wondering whether they have a good business idea and what to do about it. I wish it had been given to every entrepreneur who appeared before me on Dragon's Den.";Doug Richard, Dragon on Dragon's Den ";Mullins' New Business Road Test provides the entrepreneurial equivalent to the proverbial 'sleeping policeman' on the Sunday drive: the necessary jolt of reality for those hanging on to the belief that value is created on a computer spreadsheet or a fancy PowerPoint presentation. The business plan is the road map between idea and sustainable business, and John offers the most valuable journey planner available.";Benoit Leleux, Professor of Entrepreneurship & Finance, IMD, Lausanne, Switzerland ";We work with hundreds of CEOs reviewing their investor pitches. The truth is that all businesses, even those already funded, can improve their business models and their road show presentation to investors or strategic partners. Good entrepreneurs understand that their emerging business remains 'work in progress'. Even on the road, they work the map. We recommend that all new entrepreneurs look at John's excellent new business road maps before hitting the ground.";William Stevens, E-Unlimited Got an idea for a new business? Take it for a road test to make sure it works before you invest valuable time and money in it. Most new businesses fail. Why? Because no matter how talented you are, no matter how much capital you have, no matter how good your business plan is, if you're pursuing a 'lousy business' -- a fundamentally flawed opportunity -- you're on the fast-track to failure. The new edition of this best-selling book will help you to road test your idea, making sure that the business you build is based on a winning concept. It will enable you to invest your time and money wisely and pitch to investors and customers with confidence. No budding entrepreneur should leave the day job or face an investor without having read this book.

Outthink the Competition

How a New Generation of Strategists Sees Options Others Ignore

Author: Kaihan Krippendorff

Publisher: John Wiley & Sons

ISBN: 1118105087

Category: Business & Economics

Page: 256

View: 4254

Identifying characteristics that enable effective corporate leaders and entrepreneurs to recognize opportunities, a professional guide reveals a paradigm shift in the business world and counsels readers on how to develop specific mental practices for breaking free of outdated routines and staying ahead of the competition.

What Every Angel Investor Wants You to Know: An Insider Reveals How to Get Smart Funding for Your Billion Dollar Idea

Author: Brian Cohen,John Kador

Publisher: McGraw Hill Professional

ISBN: 0071800719

Category: Business & Economics

Page: 272

View: 8852

WHAT IF YOU HAD AN ANGEL ON YOUR SIDE? "Terrific advice from a master of the angel investing game. Brian Cohen reveals the art and craft of raising angel money. An investment in this book will pay off a thousandfold." -- DR. HOWARD MORGAN, founder and partner at First Round Capital When you connect with the right angel investor, it's like finding a new best friend--you just have to know what makes him or her happy. Smart funding is waiting for smart founders. Raising funds is all about connecting with the investor who's right for you--and What Every Angel Investor Wants You to Know shows you exactly how to succeed. Veteran early-stage investor Brian Cohen knows how to spot a great company destined for success, and in this groundbreaking book he offers soup-to-nuts guidance for any entrepreneur seeking to launch an invention, a product, or a great new idea into a receptive marketplace. As chairman of the board of directors of the New York Angels, Cohen is one of the most engaged angel investors out there today. The first investor in Pinterest, he describes exactly what angels want to see, hear, and feel before they take out their checkbooks: A clear exit strategy before the startup even launches Facts that turn "due" diligence into "do" diligence Authenticity--"save your spinning for the fitness center" Proof that you "live inside the customer's head" Cohen gives invaluable insight into how the most successful angels view due diligence, friends and family money, crowdfunding, team building, scalability, iteration, exit strategies--and much more. This one-of-a-kind book provides a rare look inside the minds of people who are in the business of funding businesses just like yours. Read What Every Angel Investor Wants You to Know to get your best shot at funding for your product after your very first pitch. PRAISE FOR WHAT EVERY ANGEL INVESTOR WANTS YOU TO KNOW: "Brian Cohen is truly the entrepreneur's best friend. Cohen and Kador haven distilled their first-hand experiences into an intensely personal, highly readable journey into the mind of angels that should be kept at the bedside of every startup CEO." -- DAVID S. ROSE, founder, New York Angels, and CEO, Gust "Meet one of the fundamental building blocks of the entrepreneurial scene. In one easy-to-read package, readers now have the wisdom of Brian Cohen, perhaps the most well-connected investor/entrepreneur in New York." -- MURAT AKTIHANOGLU, founder and managing director, Entrepreneurs Roundtable Accelerator "What Every Angel Investor Wants You to Know gives you an actionable checklist for success in fund-raising and entrepreneurship. Cohen and Kador provide an exhilarating ride for those who want to pilot their own business." -- REED HOLDEN, serial entrepreneur and author of Negotiating with Backbone "Personal insights from a seasoned angel investor. An important addition to the reading list for today's entrepreneurs." -- SCOTT CASE, CEO, Startup America Partnership "What Every Angel Investor Wants You to Know is a must-read for entrepreneurs and investors who want to fi nance startup dreams--an accessible, jargon-free, practical primer." -- WHITNEY JOHNSON, author of Dare, Dream, Do: Remarkable Things Happen When You Dare to Dream and cofounder, Rose Park Advisors

The Startup Checklist

25 Steps to a Scalable, High-Growth Business

Author: David S. Rose

Publisher: John Wiley & Sons

ISBN: 111916379X

Category: Business & Economics

Page: 320

View: 7279

"Most books on entrepreneurship focus on strategic issues like product/market fit, deciding what market to be in, or what business to buy, how to get traction with customers, etc. Examples include bestselling perennials such as The Lean Startup, Art of the Start, Zero to One, Startup Owner's Manual, et al Simple Startup, covers a completely different part of the process: the concrete details of business launch, growth, and management. Most best-sellers that promise to tell people how to start a business do so very briefly, and quickly end up recommending that readers seek guidance from lawyers, accountants, and other paid advisors. Simple Startup gives readers the detailed insights they need to understand exactly what they need from each of these professional counselors, to ask the smart questions that will help them get their money's worth, and to make intelligent decisions independent of their advisors' recommendations. Simple Startup is aimed at those who want to make it really big, not just the home-based artisans, daycare providers, or dry cleaning stores. These are innovators and visionaries who have the passion, drive, and creativity to launch a great company, but who need a nuts-and-bolts guide to the hundreds of complex challenges that derail many a business on the journey from their first business card to a successful company sale or IPO"--

The Startup Owner's Manual

The Step-by-Step Guide for Building a Great Company

Author: Steve Blank,Bob Dorf

Publisher: BookBaby

ISBN: 098920054X

Category: Business & Economics

Page: 608

View: 1973

Welcome to The Startup Owner's Manual, a near-encyclopedic manual that will teach you * How to incorporate the Business Model Canvas as the organizing principle for startup hypotheses * How to find Product-Market fit * How to Get, Keep and Grow customers * How to fuel growth with metrics that matter The Startup Owner's Manual walks you, step-by-step, through the tested and proven Customer Development process created by startup expert Steve Blank, unlocking the secrets to building a successful, scalable company. This book: * Guides startups of all types in their search for a scalable, profitable business model * Explains the 9 deadly sins startups commit most often - and helps you avoid them * Provides separate paths and advice for physical versus web/mobile products * Explains how to test and iterate your company's road to product/market fit * Details strategies and tactics for how to get, keep and grow customers * Teaches a new math for startups -- metrics that matter * Includes detailed checklists at every step of the process ...and provides hundreds of ideas, watch-outs and "how tos" for founders! The Startup Owner's Manual lays out the best practices, lessons and tips that have swept the startup world, offering a wealth of proven advice and information for entrepreneurs of all stripes. It is used by thousands of startups, leading universities (including Stanford, U.C. Berkeley and Columbia) and the U.S. National Science Foundation, among many others.

Launching New Ventures: An Entrepreneurial Approach

Author: Kathleen R. Allen

Publisher: Cengage Learning

ISBN: 1305102509

Category: Business & Economics

Page: 608

View: 1157

LAUNCHING NEW VENTURES, 7e provides tomorrow’s entrepreneurs with the tools to launch a successful new business in a global marketplace. The text follows the logical development process: from initial idea, to developing and testing a business model, to designing a business and preparing for growth. The seventh edition represents the most current thoughts, ideas, and practices in the field of entrepreneurship. Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.

Plan Commit Win

90 Days to Creating a Fundable Startup

Author: Patrick Henry

Publisher: N.A

ISBN: 9780692868126

Category:

Page: N.A

View: 9387

The Process I Used to Raise $200 Million and Drive $2 Billion in M&A

The Business Model Book

Design, build and adapt business ideas that drive business growth

Author: Adam J. Bock,Gerard George

Publisher: Pearson UK

ISBN: 1292135727

Category: Business & Economics

Page: 296

View: 7483

Business models are the beating heart of your firm's value proposition. Great business models drive rapid growth; bad business models can doom the most promising ventures. Brilliant Business Models clearly shows you how to create, test, adapt, and innovate successful and appropriate business models in any business context. Every company has a business model. When the business model works, the company creates value. Brilliant Business Models combines the latest research, straightforward tools and current examples to bring this surprisingly tricky topic to life. Straightforward cases from the author's research and experience highlight key lessons. This book applies a novel, life-cycle based approach to make business models relevant to your company's development stage. Your company changes over time—so should your business model. Understand how and why business models matter to your organisations success Learn how to evaluate and test business models to identify the most appropriate model Use the business model life-cycle approach to keep your business model relevant and successful. “Clever, innovative, and simple -- a must read workbook for entrepreneurs!” Charles CHEN Yidan, Co-Founder, Tencent Holdings. “Buy it. Read it. Most importantly, use it!” John Mullins, London Business School, Author of The Customer-Funded Business and The New Business Road Test. “This may well turn out to be your scrapbook for business models. An excellent resource that will get your ideas flowing!” Shane Corstorphine, VP, Regional Growth (Global Regions) and General Manager (Americas), Skyscanner.

Confessions of the Pricing Man

How Price Affects Everything

Author: Hermann Simon

Publisher: Springer

ISBN: 3319204009

Category: Business & Economics

Page: 221

View: 7159

The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer. In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood. The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business. It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as a n entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it. In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more—as a consumer or as a business person. You will never look at pricing the same way again.