I enjoyed this week's reading sourced from MIT Sloan Management School Review. Principally interesting to me was the assertion that one of the means of minimizing risk exposure and approaching the entrepreneurial space tactfully is to frame it in a scientific mindset. This was fascinating to me mainly because it would seem any rational entrepreneur would choose this approach. The reason things may not be done as systematically in practice are three fold in my opinion: fist is that many people don't have experience with scientific procedural mechanisms of experimentation, the second being that this method is extremely time consuming in terms of planning, and lastly that when change inevitably does come to the business plan it may drastically alter many of the apparent and (more importantly) confounding variables in your model. I found this interesting article that explores how some of these methods may appear when executed...
http://steveblank.com/2010/10/25/entrepreneurship-as-a-science-%E2%80%93-the-business-modelcustomer-development-stack/
No comments:
Post a Comment