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Nail It Then Scale It: The Entrepreneur's Guide to Creating and Managing Breakthrough Innovation
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Why do most new businesses fail, yet a few entrepreneurs have a habit of winning over and over again?
The shocking discovery of years of research and trial is that most startups fail by doing the "right things", but doing them out of order. In other words, human nature combined with our entrepreneurial drive puts us on autopilot to become part of the 70 percent to 90 percent of ventures that fail.
From Thomas Edison to Steve Jobs, the "nail it then scale it" method is based on pattern recognition of the timeless principles and key practices used by successful entrepreneurs to repeatedly innovate. These processes and principles have now been distilled into a handbook to guide entrepreneurs and innovative product managers to victory.
Stop following conventional wisdom, and join the few entrepreneurs that can consistently take their innovative idea all the way to a successful company launch.
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Audible Audiobook
Listening Length: 9 hours and 49 minutes
Program Type: Audiobook
Version: Unabridged
Publisher: NISI Publishing, LLC
Audible.com Release Date: September 15, 2015
Whispersync for Voice: Ready
Language: English, English
ASIN: B015EKZ5G4
Amazon Best Sellers Rank:
The goal of any entrepreneur is to build something customers want, for a problem they're willing to pay for. Yet 90% of businesses fail because they can't get anyone to buy. Why is this the case?Y Combinator founder Paul Graham promotes the motto "Make something people want." Paradoxically, research shows that the natural tendencies of entrepreneurs jeopardize that mission, every step of the way. For example, entrepreneurs easily fall into the habit of following their own beliefs rather than facing up to the realities of the market before it's too late. Ultimately, our greatest enemy is ourselves--investing our time and money into things that won't work, at the cost of not discovering and pursuing the things that will work. NISI outlines a process that emphasizes having a scientific, unemotional mindset and maximizes time to failure, thereby minimizing the potential sunk cost of trying to realize a true business opportunity. NISI also warns us of the natural psychological traps of entrepreneurs and how to avoid them. At its core, the NISI about avoiding dangerous path of "I've got a great idea", and instead taking the road of "customer data indicates that this is true".The NISI process is straightforward and methodical: start with hypothesis about the customer pain, then test it. Once you've identified and validated the customer pain, hypothesize the minimum feature-set necessary to drive a customer purchase. From there, build a series of gradually more advanced prototypes, while discussing and validating with customers each step of the way. Eventually, you build a usable solution and sign up pilot customers, who help you refine your product and develop a go-to-market strategy.This process can be applied to startups, new ventures within, and to turn around lagging companies. But while this process sounds simple--even conventional--the true challenge is avoiding common entrepreneurial pitfalls and having the discipline to adhere to this process in full. My main takeaways? Talk to customers starting on day one, and don't stop. Be a scientist, not a hero.Two criticisms of the book:1) I thought that the third phase, "Nail the Go-to-Market Strategy" was presented weakly compared to the earlier phases. I give the authors credit for trying to condense positioning, marketing, and sales into a relatively small number of pages. But I felt that the sections on understanding the customer buying process and market communication and distribution infrastructure were not as practical as I would have hoped.2) The process, or at least the explanations and examples (eg. cold email scripts), is tilted toward B2B. I've started a B2B business previously, and from that perspective the content seemed spot-on. But as someone working on a B2C business now, I felt a little bit short-changed.
Absolutely loved this book! Anyone involved in any kind of organization of any size will benefit greatly from reading this book. It cuts through all of the organizational fluff that we are all used to hearing about and centers you on what's really important. For me personally, I applied these principles to the way I lead my faith group at school and it helped me break out of the habit of day-to-day administrative habits and helped me focus on what's really important and what we want to accomplish as an organization. This book has inspired me to viciously tackle the central problem and relentlessly chase the central solution.
The book provide a reference model to guide one to start a new business. it covers your mind set, approach the problem from both technical and marketing side. for me who is starting a business coming from the technical side, it gave me a lot of 'hit on the head' of element I overlook due to my lack of exposure in those areas or ignorance of the reality. I strongly recommend this reading to every fellow startup owner
The first half of this book was a great read. It's a pretty common theme nowadays to hear about validating an idea before and while you build it, but this book adds some good detail and really solidifies the concepts. Maybe it's because I don't have a ton of experience in business and market research, but the second half of the book pretty much went over my head. There wasn't much of an explanation of the different terms that he used, and I had a difficult time thinking about the concepts in real-world situations.
Lean Startup in more Americany terms. Not much to say, except read it if you have ANY desire to start a business from the ground up.TL;DR: Your middle-of-the-night ideas are probably stupid. You're probably wrong. Take the minimum time to get a prototype in the face of your potential customers, iterate on their feedback, and DO NOT INVEST significant money and time until you have tried to prove your idea wrong from many angles with customer feedback. Indeed, if you haven't disproven any part of your business idea, you haven't tried hard enough -- no successful businessman or businesswoman just *knows* what people want.
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