Join Whitney Johnson for an in-depth discussion in this video Preparing mentally, part of Entrepreneurship Fundamentals.
- Building a business is both exhilarating and terrifying.…You want to believe that if you work hard,…you will be successful, and you will be,…but not necessarily immediately,…because in a complex system, like a business,…cause and effect may not always be clear.…You can't simply flip a switch and the light goes on.…There are often time-delayed relationships,…in which huge effort yields little in the near term.…S-curve math, which not coincidentally,…helps us gauge how quickly…a disruptive innovation will be adopted,…helps us deal with these time delays,…providing milestones we can watch for.…
At the outset, growth will be quite slow.…Once a tipping point is reached,…which is typically at 10 to 15%, you enter hypergrowth.…At 90%, or saturation, growth slows.…With Facebook, for example,…assuming a market opportunity of one billion people,…which it's now exceeded,…it took roughly four years to reach 10%.…Once it reached a critical mass of 100 million users,…Facebook moved into hypergrowth…and added not 100 million but 800 million users…
- Finding your idea/problem to solve
- Finding your first customer
- Writing a business plan
- Deciding on a legal structure
- Building a team of employees and advisors
- Marketing your business
- Building a website
- Minding cash
- Managing stress
- Funding growth
- Balancing entrepreneurship and life
Skill Level Appropriate for all
1. Finding Your Big Idea
2. Starting Your Business
3. Building a Team
4. Marketing Your Business
5. Scaling Your Business
6. Funding Growth
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