This week's article struck me as very similar to last week's Discover Driven Planning article--both focus on developing and testing hypotheses as the primary tool for venture planning. Overall, I think both have a great idea. There are definitely some key elements that need to be tested along the way to building and launching a venture, and planning to test these key elements allows an entrepreneur to effectively focus his/her time and energy.
That being said, however, determining which hypotheses need to be tested and in which order is difficult, especially early on in the process. In the beginning, almost everything has the potential to be a business killer. Unfortunately, the best way to determine which is a bigger risk than others is probably experience, which is something that the vast majority of student entrepreneurs lack.
I can see a solution to this as a pesudo-apprenticeship program for aspiring entrepreneurs that is based fundamentally on the ideas laid our in the last two readings. By having several experienced entrepreneurs/instructors who will work with students to critically analyze the biggest risks, determine how to test them, and organize it all into a coherent plan would not only be a great exercise for the business but also a great learning experience for the student. Regardless of how it turns out, this process has a lot of applicability in other areas as well.
A question for my fellow students: If a program such as this were offered as a summer program that would take the place of an internship, would you participate?
No comments:
Post a Comment