Founders should start by understanding the assumptions behind their business using a Business Model Canvas, which requires founders to fill in nine boxes covering topics like “Value Propositions” and “Customer Segments.” Founders turn the key questions they have about their business into testable hypotheses and then build fast and cheap Minimal Viable Products to test these hypotheses. In short, the Lean Startup Method proposed that the key to a successful startup was to be biased towards action. The first was the rise of the Lean Startup Method, pioneered by Steve Blank and Eric Ries, and covered very ably by Blank in HBR six years ago. How can you teach entrepreneurship?” As a result, I have heard a lot of startup pitches (last year was blockchain this year was CBD) but I also have thought about how to answer the bigger question: what can we teach founders to make their startups more successful? Fortunately, the last decade has given me a lot of valuable lessons I can share, and these lessons come from two different sources. When someone finds out that I am an entrepreneurship professor, they tend to either ask me to listen to their startup pitch, or else they look at me quizzically and say: “But I thought entrepreneurship was all about improvisation.
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