Fail Fast or Win Big (Review and Analysis of Schroeder's Book)
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About this ebook
This complete summary of the ideas from Bernhard Schroeder's book "Fail Fast or Win Big" shows that the traditional approach to business plans used by entrepreneurs is outdated, as markets evolve too quickly nowadays. This means it is necessary to have a business plan that is being constantly adapted to suit the current market. The author explains the "LeanModel Framework", which is based on customer truth. This framework requires you to get feedback from customers in an ongoing cycle to avoid being left behind with an outdated business model. If you are an entrepreneur in the process of writing your business plan, this summary will give you all the information you need to adapt your approach and stay ahead of the game.
Added-value of this summary:
• Save time
• Understand key concepts
• Develop your business knowledge
To learn more, read "Fail Fast or Win Big" and discover a new approach to writing your business plan; you'll never look back!
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Fail Fast or Win Big (Review and Analysis of Schroeder's Book) - BusinessNews Publishing
Book Presentation: Fail Fast or Win Big by Bernhard Schroeder
Summary of Fail Fast or Win Big (Bernhard Schroeder)
Book Abstract
MAIN IDEA
The traditional approach to being an entrepreneur has usually been:
Get an idea and write a business plan
Spend months securing investors
Start making and selling your product
The problem with that approach is markets today evolve so quickly your business plan will likely be out of date before it is finished. You don't want to wait until you've spent all your funds before you start finding out whether or not customers really want what you're making.
A much better approach is to use the LeanModel Framework
which is based on customer truth – getting feedback from customers – in this way:
If you want to sell a product, just make it. If you want to sell a service, just deliver it. If you want to create a company, just create one. There has never been a time like the one we are living in right now.
– Bernhard Schroeder
About the Author
BERNHARD SCHROEDER is a director of San Diego University's Entrepreneurship Center. In addition to teaching entrepreneurship courses at San Diego University, he has worked with hundreds of start-ups as a strategic adviser or mentor. Prior to joining the university, Bernhard Schroeder was a Senior Partner in CKS Partners,