This week I had the pleasure of being late to the party…or rather late to the podcast. If you have ever sat in one of my classes, you will know that I’m a big fan of podcasts. And if you were really paying attention, you will also know that Planet Money and This American Life are two of my favorites. Well this week I found out that Alex Blumberg, a major contributor to both of these podcasts, struck out on his own recently to document his journey as an startup entrepreneur. The very first episode of the Startup podcast, “How Not To Pitch A Billionaire,” is one of the best things I’ve ever heard, Read More…
As some of you readers know, I’m not a huge fan of “doing the way we’ve always done it.” I have nothing against tradition and proven methods, in fact I’m a big supporter of those ideas. But doing something the “way we’ve always done it” because its the only way we know, because it’s the way we were taught, because it’s easier… well that just doesn’t’ fly for me.
Recently we started reviewing the “way we’ve always done it” in our business plan writing. A graduate assistant help me do some research by examining the concepts of “lean entrepreneurship.” While this methodology is getting some press right now, it’s not entirely new. In fact, its really just embracing the realities of a startup (no money, no time, lots of passion) and validating practical methods for getting a new enterprise off the ground. In an era of fad diets, this “lean” approach actually makes a lot of sense. The process looks something like this: “ideation, innovation, iteration, launch, feedback, iteration, re-launch, feedback, iteration…” You get the picture. I’m very excited to see where these concepts go and how our students respond in their current projects.
For those of you interested in the “lean” methodology, here’s a great conference coming up this fall: The Lean Startup Conference
Hope to see you there!
I teach business at a local university. We have some wonderful business programs, including the MBA program, for which I am the recently-appointed Program Director. Like all good business schools, we ask our MBA students to work on a business plan as their final project. It literally takes them months to complete. They research mountains of data, create miles of spreadsheets and in the end, present a 30-50+ page document, complete with an appendix and works cited page that would make your APA instructor blush with excitement. These tomes are reviewed by well-qualified experts, and vetted for accuracy, depth, computation and viability. Once a number of edits and revisions have been made, and just prior to actually graduating, they fall across the finish line with an approved plan. Mission accomplished! Or is it…?