The session emphasizes the importance of understanding the needs of your audience and how to engage them effectively when presenting a product or idea. Successful communication hinges on understanding both the benefits and external objections related to a product.
Clients may be more interested in the benefits of a product rather than the intricate details of how it works.
When discussing products, focus on how they help alleviate pain points or enhance life.
Use relatable anecdotes to demonstrate the product’s value.
Present the benefits first before delving into how to achieve them:
Benefits → Reason to Believe
A classic sequence involves probing for objections followed by affirmations:
Probe for objections: Ask open-ended questions to identify hesitancies.
Affirm: Restate their concerns and provide reassurances.
Trial Close: Gauge interest subtly through questions such as "How would you feel about moving forward if I could alleviate your concerns?"
Follow-up is crucial to maintaining engagement and credibility.
Share relevant information that addresses their concerns to stay relevant.
Demonstrate conviction and passion.
Utilize supporting evidence.
Maintain brevity; respect the audience’s time.
Slow down and enunciate clearly during presentations.
Use a structure that flows logically: Start with a problem, introduce a solution, then provide evidence of its efficacy.
Understand the audience’s priorities and what they hope to gain from the interaction.
Audience Focus : How does this help me?
Incorporate stories to create emotional connections:
Good stories make the message relatable and memorable.
For instance, a narrative about someone affected by a problem will resonate more than statistics alone.
When pitching to investors (e.g., venture capitalists):
Identify their concerns about risk and potential return on their investment.
Clearly outline the unmet needs your project will address and how.
Make it clear why your solution is superior.
Address concerns upfront to establish transparency.
Keep slides short and avoid overloading with technical details.
Highlight the problem, your solution, and the path to revenue.
Use simple, accessible language.
The art of selling and presenting involves more than just the message; it encompasses delivery, understanding your audience, building rapport, and maintaining engagement. Always prepare thoroughly and practice your delivery to ensure clarity and confidence.
This session focuses on the intricacies involved in starting a new venture, covering critical aspects such as team dynamics, customer discovery, and the founder’s journey. Key speakers culminate the learning experience with insights from their own entrepreneurial paths.
Session 1: Framework for new ventures
Session 2: Customer engagement with Bob Jones
Session 3: Business models and panel discussion on organizational culture
Ken Zola emphasizes the significance of human interactions in startups. Understanding dynamics among team members is crucial:
Addressable markets and monetization strategies are important; however, team chemistry often dictates success or failure.
Collaboration and trust among founders significantly impact the venture’s trajectory.
In his reference to Joseph Campbell’s Hero’s Journey, Zola outlines common narratives in entrepreneurship:
Call to adventure
Mentor encounters
Challenges and crises
Resolution and sharing knowledge with the community
The decision-making process is enhanced when backed by data, fostering an environment where:
Disagreements can be resolved through concrete evidence rather than opinions.
Clear value propositions and business models are defined before execution.
Alex Naz mentioned the irony of discussing equity splits, given that:
Founders must decide how much equity to allocate among themselves.
A 50/50 split might seem fair initially but can complicate decision-making as the company scales.
The core advice is:
Date before you marry – develop your teamwork before formalizing agreements.
Early-stage startups may hesitate to involve legal counsel but must ensure agreements exist to:
Protect all parties involved.
Prevent conflicts down the line.
Founders often reach out to potential customers through emails, social media, and existing networks.
Interviews are conducted to gather insights about user needs and to identify market gaps.
Each panelist shared personal anecdotes about overcoming hurdles:
Emotional and mental resilience is key: the founders faced moments of self-doubt questioning the viability of their ideas.
Persistence, networking, and adjusting strategies based on real-world feedback can lead to eventual success.
Below is a brief overview of the panelists and their projects:
Focuses on aiding children with Down syndrome to improve communication.
Works on a project that personalizes learning and engages caregivers.
Creator of Rivet, an AI-driven CRM platform for artists to engage with fans.
Drew upon mentorship and collaboration within MIT’s entrepreneurial ecosystem.
Developed a wearable device that uses vibration to mitigate hand tremors in Parkinson’s patients.
Navigated through various funding rounds and overcame significant engineering challenges.
The journey of an entrepreneur is fraught with challenges but equally filled with opportunities for growth and impact. Founders must balance vision and execution while maintaining healthy relationships with co-founders and customers.
Effective presentation and sales strategies hinge on understanding the audience, presenting benefits, and ensuring clarity in communication. This document outlines key strategies and practices for success in these areas.
Audience Needs: Always ask what your audience cares about. The focus should first be on their needs rather than your qualifications.
Personalization: Tailor your message. For example, when selling a motorcycle, focus on benefits that resonate with the customer’s desires (e.g., being a "chick magnet" rather than technical specifications).
Benefits First: Communicate how your product or service will help the customer. For example, emphasize that a product helps lose weight and prevents hunger, rather than delving into complex nutritional details.
Reason to Believe: Once the benefits are outlined, provide supporting evidence to build credibility.
Probe for Objections: Use open-ended questions to understand concerns (e.g., “How do you feel about what I’ve told you so far?”).
Trial Close: After addressing concerns, ask for commitment (e.g., “If I can address those concerns, how would you feel about moving forward?”).
Clarity and Brevity: Stick to key messages. Aim for three main points as this is what people can retain.
Engagement Techniques: Use stories and anecdotes to create a connection. For instance, use relatable examples from real-life scenarios.
Presentation Structure: Organize your presentation with a strong introduction, substantiated claims, and a clear conclusion.
Authenticity: Speak with conviction and enthusiasm, but avoid being over-the-top.
Delivery: Slow down, enunciate clearly, and practice effective body language. Hold the microphone properly while gesturing.
Market Research: Understand the market needs through interviews and surveys. Example: identifying pain points that potential customers face.
Identify Your Audience: Understand the different segments of your audience and tailor your presentation accordingly.
Follow-up promptly on objections and concerns raised during the meeting.
Build trust and credibility through consistent communication.
Introduction of Problem: Start with a relatable anecdote or a stark statistic to outline the problem.
Identify Current Solutions: Discuss what exists and why it is inadequate.
Present Your Solution: Clearly articulate what your product or service offers and its benefits.
Call to Action: Request investment or participation from your audience.
The ability to present effectively and sell ideas requires a combination of understanding your audience’s needs, providing clear benefits, and ensuring open dialogue. Practicing these skills will lead to improved outcomes in both business sales and presentations.
Entrepreneurship is a challenging but rewarding pursuit. Statistics indicate that approximately 90% of new ventures fail. Understanding the reasons behind these failures can help aspiring entrepreneurs avoid common pitfalls.
The success of a business often hinges on a deep understanding of its customers. Key aspects to consider include:
Who is the customer?
What are their needs and motivations?
What problems are they trying to solve?
How much will they pay for a solution?
Entrepreneurship often involves creating solutions that address unmet needs.
The primary driver for customers is not the product itself, but the benefits it provides.
Consider how a product or service alleviates pain points or fulfills desires.
Traditional market segmentation includes demographic factors such as age or income. However, it can be more effective to segment based on:
Motivation: Who wants what you have?
Understanding that what people truly want is not the product itself, but the outcome it provides.
In the example of a product aimed at preventing heart attacks, the most motivated customers are those who have experienced significant health issues, moving down the pyramid of motivation to those with lesser concerns.
Two product launch examples highlighted learning points:
For a product aimed at kidney failure patients, despite receiving clinician endorsement, understanding patient needs ultimately proved crucial.
The second product focusing on diabetes showcased how understanding consumer preferences led to marketing success. The label needed to appeal to those who did not wish to be labeled as “diabetic.”
When building an entrepreneurial venture, it’s essential to introspect on these questions:
What problem am I solving?
How are customers currently attempting to solve this problem?
Why would customers prefer my solution over existing alternatives?
Leveraging educators and healthcare professionals can establish credibility and widen market reach without falling into traditional slotting fee traps.
Understanding who your customer is, and where they go for advice is key. Effective communication and relationship building can help drive success.
Two essential marketing principles were emphasized:
Find out what your customers want.
Give it to them.
The single non-negotiable requirement for a successful business is having customers. Entrepreneurs must determine what is important and unique to their target audience, then actively communicate the value of their offerings.
Key Takeaway: Understand your customers deeply—who they are, what they want, and how your product can serve them better than alternatives.
In a recent panel discussion led by Bob Jones, it was emphasized that the primary reason for the failure of startups is often people-related issues rather than technological failures or market conditions.
Importance of Team Building
Recruitment and retention of the right talent is crucial.
The right team can significantly enhance a startup’s success.
Mindset and Adaptation
Failure is common; it should be seen as a learning opportunity, not a fatal occurrence.
Entrepreneurs must be open to adjusting their strategies based on experiences.
Curriculum Relevance
Key skills required include understanding customer needs, business models, and addressing people issues.
The discussion featured insights from two panelists:
CeCe, CEO and Co-founder of Metalmark Innovations, with experience in clean technology and venture mentoring.
Sebastian, CEO of Acoustic Wells Inc., specializing in aerospace and IOT systems in the oil and gas sector.
The panel outlined essential skills for entrepreneurs, including:
Identifying customers.
Developing a viable business model.
Addressing organizational and people issues.
Navigating legal considerations.
Selling and making impactful presentations.
Understanding and managing finances.
Raising capital effectively.
Good Hires:
Visionary individuals who enhance company productivity.
Employees that actively contribute to the team’s collaborative spirit.
Bad Hires:
Individuals who disrupt teamwork or have hidden agendas.
Consequences can include low morale and reduced productivity.
Emphasis on early identification and swift corrective action is crucial.
Foster open communication channels to ensure a collaborative environment.
Encourage team members to voice disagreement in a constructive manner.
Maintain accountability and shared responsibilities within the team.
Decisions should not solely be democratic; a clear leader (CEO) may need to make the final call.
Setting boundaries on consensus can facilitate quicker actions while aligning with the company’s vision.
The panel discussed implementing a structured hiring framework:
Technical Competence: Ensuring candidates possess necessary skills for the job.
Commitment to Success: Evaluating candidates’ passion for the company’s mission.
Character Assessment: Assessing integrity, adaptability, and collaborative spirit as critical attributes.
The discussion highlighted that the journey of entrepreneurship is deeply tied to the effectiveness of team dynamics and organizational structure. Success relies heavily on the ability to hire wisely, foster a positive working environment, and approach challenges with a learning mindset.
Purpose of the session: Explore how to create a sustainable business model after identifying a customer base.
Previous sessions focused on understanding customer needs—this session will elaborate on building a sustainable business around those customers.
Presenters include Rich Kibble, an experienced entrepreneur and CEO with a strong background in sales, marketing, and technology.
A business model describes the way a company captures value, delivers products or services, and makes a profit.
Successful companies have business models that attract, retain, and create repeat customers.
What problem is being solved?
Who is the target market?
How will the value be delivered to the customer?
What are the channels for distribution?
What are the revenue streams?
What are the cost structures?
What is the competitive landscape?
Value Proposition: Describe the problem being solved and the unique value provided. Example: Warby Parker disrupted the eyeglass industry.
Market Segmentation: Identify target audiences based on their needs and behaviors.
Value Chain Structure: Analyze the steps necessary to deliver product/service and understand the players involved.
Revenue Model: Outline how the company will earn money (e.g., direct sales, subscriptions).
Cost Structure: Identify fixed and variable costs, and consider economies of scale.
Channels: Define how to reach customers and deliver the value (e.g., online, retail).
Customer Relationships: Determine how the company will interact and engage with customers.
Warby Parker: Defined a new shopping experience by allowing customers to try on glasses at home.
Carvana: Revolutionized car buying by providing an online platform eliminating traditional dealership pressure.
Netflix: Transitioned from a DVD rental service to streaming, ultimately dominating the market.
Apple: Created a direct-to-consumer experience with premium products through its retail stores.
Companies fail often due to lack of product-market fit, marketing issues, or ineffective teams.
Importance of iteration: Adapting business models based on market feedback is crucial.
Pair Therapeutics: Created the first FDA-approved digital therapeutic, showcasing an innovative business model within a regulated industry.
Focus on underserved markets or unique high-end products (e.g., luxury watches, gourmet foods).
Conduct in-depth customer surveys and market analysis.
Leverage storytelling to create compelling value propositions for niche markets.
Know the adoption cycles of technology (e.g., how long it took for various tech to reach 50 million users).
Utilize OKRs (Objectives and Key Results) to measure success.
Important to measure profit margins, customer retention rates, and overall market share.
Building an effective business model is a dynamic process that requires responding to market demands and customer feedback.
Entrepreneurs should surround themselves with advisors who have relevant experience.
Continuous evaluation and iteration are vital for long-term success.
Startups often require capital for growth and operations, leading to a variety of funding sources. This document summarizes insights from discussions about financing startups, the types of capital available, and advice for prospective founders.
1. Founder Savings: Most young companies initially rely on personal savings, often coupled with cash flow from the business.
Total Funding = Founder Savings + Cash Flow
2. Credit Cards: A significant number of startups fund their initial expenses through credit cards, making it the second-largest funding source after personal savings.
3. Friends and Family: After depleting personal resources, founders typically approach their personal networks for financial support.
4. Bank Loans: While banks receive a lot of attention, they often lend to established businesses with secured assets, making it challenging for startups to access funds.
5. Venture Capital: Accounts for less than 20% of the fastest-growing companies, indicating that many successful startups do not require venture funding.
Julianne Zimmerman emphasized the importance of understanding personal business goals before seeking capital. Questions include:
What measure will define success?
What resources do you have versus what you need?
What obstacles will you face?
Tatiana (Learn Launch) focused on the significance of understanding the value received from investors:
Know what specific help you need from accelerators or incubators.
Build relationships based on trust and honesty.
Carrie Bowie (Majira Project) highlighted:
Connections to customers, talent, and capital as critical components when considering accelerators.
Diversity in founding teams and their challenges in accessing funding.
James Daly (Needham Bank) discussed building relationships with bankers and the importance of trust and a well-prepared business plan.
Be Realistic: Set achievable goals rather than aiming for unrealistically large rounds of funding immediately.
Stay Organized: Prepare all necessary materials (data room) and understand your market.
Communicate Openly: Maintain an ongoing dialogue with potential investors and stakeholders; do not wait until the last moment to seek help.
Loss of Market Focus: Founders may lose sight of their market and product needs.
Poor Product-Market Fit: A staggering 80% of companies fail due to a disconnect with customer needs.
Inflexibility: Founders must be open to feedback and pivot when necessary; stubbornness in product development can lead to failure.
Care Academy: A notable success, raising $20 million after several pivots and a focus on delivering value to low-wage care workers.
Fresh Fruit Generation: Transitioning from a food truck model to a successful brick-and-mortar location while effectively addressing community needs.
Character is Key: Investors look for integrity, coachability, and resilience in founders.
Networking and Relationships: Fundraising takes time; fostering relationships is crucial for long-term success.
Flexibility and Focus: Founders should remain adaptable while staying committed to their overarching mission.
Navigating the landscape of financing a startup is complex but achievable through understanding various funding sources, maintaining strong relationships, and being flexible in approach.
This document provides notes on financial projections and equity distribution for startups, as discussed in a lecture led by Charlie Tillett, an experienced entrepreneur and CFO.
Financial projections serve as the roadmap for determining:
How much cash a business needs to start.
How long that cash will last.
The amount of capital required for future growth.
“If you can’t hire the people you need or buy the supplies needed, all plans are just wishes.”
The business plan should include an income statement, outlining key financial components such as revenue and expenses.
An income statement or profit and loss (P&L) statement typically includes:
Revenue (Net Sales)
Cost of Goods Sold (COGS)
Gross Profit
Operating Expenses (SG&A: Selling, General and Administrative)
Operating Profit (EBITDA)
1. Revenue: The total sales after discounts.
Net Revenue = Sales − Discounts
2. Gross Profit:
Gross Profit = Net Revenue − COGS
3. Operating Profit (EBITDA):
Operating Profit = Gross Profit − Operating Expenses
It’s essential to construct a financial model based on realistic assumptions:
Use a bottom-up approach to detail sales forecasts.
Base assumptions on historical data or industry benchmarks.
Test how variables affect the financial model.
Avoid common pitfalls like the following exaggerated forecasts:
Using unrealistic market share assumptions.
Overly aggressive growth rates (e.g., expecting 100% growth with no justification).
Consider a bottoms-up approach:
Detail the number of sales calls and expected close rates.
Calculate potential revenue based on average deal sizes.
Equity distribution discussions among founders should occur early to avoid future conflicts.
Dilution occurs during fundraising rounds where existing ownership percentages decrease as new shares are created. Founders often end up holding less than 50% ownership over time.
Have clear agreements on vesting schedules (typically over 4 years).
Consider future contributions rather than past ones when allocating equity.
Utilize templates to assess equity outcomes based on projections.
Startups should manage budgets carefully, focusing on the following:
Be realistic about salary levels, aligning them with industry norms.
Avoid overestimating revenues to prevent cash flow issues.
Monitor employee costs closely as they usually constitute the largest expense.
Key performance indicators often include:
Revenue Growth Rate
Customer Acquisition Cost (CAC)
Customer Lifetime Value (CLTV)
The financial model should reflect a coherent narrative that justifies revenue projections, staff costs, and growth strategies. Regularly revisiting and adjusting the model based on actual performance is crucial for long-term success.
Negotiation is integral to entrepreneurship, particularly regarding relationships among stakeholders. According to Joe, most ventures fail due to "people issues," emphasizing the need for effective negotiation skills among co-founders and within teams.
This course is designed to provide entrepreneurs with the negotiation skills necessary to establish, maintain, and enhance relationships, thereby facilitating successful company operations.
Negotiation is fundamentally about relationships and interests. It can be classified into two main schools:
Competitive (Zero-Sum): One party’s gain equates to another party’s loss.
Interest-Based (as seen in Getting to Yes): Aims for win-win outcomes by addressing the underlying interests of all parties involved.
Why are you doing this?: Understanding the purpose.
What does success look like?: Visualizing desired outcomes.
What are you giving up to do this?: Acknowledging sacrifices made for the venture.
Co-founders engage in an exercise where each partner articulates their responses to the above questions, followed by reflective listening to ensure mutual understanding.
A Founder’s Agreement is crucial in outlining expectations and responsibilities. Key components include:
Intellectual Property (IP) Ownership
Individual Contributions
Equity Distribution
Separation Clauses
Discussing equity can be particularly challenging due to the evolving nature of contributions and responsibilities over time. A structured conversation framework is essential for unbiased discussions.
Team agreements establish communication, accountability, and decision-making processes within a company. Key aspects include:
Team Culture: Establishing norms for interaction.
Communication Tools: Specifying methods for team collaboration (e.g., Google Docs).
Decision-Making Processes: Creating procedures for reaching consensus.
This tool can visually represent all team members’ interests, facilitating discussions regarding potential conflicts and collective goals.
Different negotiations can be categorized:
Negotiations among team members require clarity on roles and responsibilities. Strategies include decision-making frameworks and conflict resolution mechanisms.
Negotiations with suppliers, customers, or partners must consider broader business implications and relationships.
The following strategies can enhance negotiation outcomes:
Interest Exploration: Always explore underlying interests, as this can lead to more satisfactory resolutions.
Documentation: Clearly document agreements, even if they are informal, to ensure mutual understanding.
Re-evaluate Agreements: Regularly revisit agreements to adapt to changing circumstances.
In a scenario where an inventor, Sandra, hesitates to move forward with a business venture, both parties’ interests must be articulated. For example:
Inventor’s Interests: Scalability, credibility, and patent protection.
Students’ Interests: Company success, competition participation, and practical experience.
In resolving a financial disagreement, interests were assessed to reach an amicable solution. The agreement prioritization included:
Preservation of relationships
Financial interests encapsulated without detriment to future collaborations
Negotiating for entrepreneurs entails a comprehensive understanding of interests, relationships, and documentation. By fostering robust communication and establishing clear agreements, teams can enhance their likelihood of success.
This document summarizes key legal issues relevant for startup founders, focusing on intellectual property (IP) and the legal structure of companies. It serves as background education and is not legal advice.
In 1975, intangibles made up 17% of the market capitalization of S&P 500 companies. By 2015, that number rose to 84%. Intangibles include:
Brand
Human capital
Intellectual capital
Intellectual property
Intellectual property’s ownership and protection vary. The primary categories include:
A trade secret provides a business advantage if others do not know the secret.
Example: Coca-Cola’s secret formula.
Duration: Indefinite, as long as it remains secret.
Protects identifiers like words, phrases, logos, and sounds associated with goods and services.
Examples: Nike, Coca-Cola.
Registered trademarks use $\textregistered$ symbol, unregistered use TM or SM.
Duration: Indefinitely, as long as they are in use and renewed.
Protects the expression of ideas, not the ideas themselves, e.g., a song versus its melody.
Registration allows enforcement of rights.
Duration: Life of the author plus 70 years.
Example: Literary works, software.
Provides a monopoly to an inventor for a limited time (20 years in the U.S.).
Must disclose the invention to obtain protection.
Prevents others from making, using, or selling the patented invention.
Example: A new type of machinery.
Choosing a legal structure affects liability, taxation, and organizational control. Common structures include:
Liability: Joint and several liability.
Issues: May expose personal assets.
C Corporation: Subject to double taxation (corporate and individual).
S Corporation: Pass-through taxation, avoiding double taxation.
Combines elements of partnerships and corporations, providing flexibility and protection from personal liability.
When forming a startup, establish clear agreements on ownership and equity distribution. Key considerations include:
Founders’ Agreement: Clear roles, contributions, and ownership percentages.
Equity Distribution: Typically structured to reflect contributions and future work.
No taxes during grant; taxed at exercise based on spread.
Must meet certain IRS regulations.
Taxed as ordinary income at exercise.
More flexible than ISOs.
Allows employees to pay taxes on stock at grant rather than vesting.
Must be filed within 30 days of stock issuance.
Investing in a startup often involves complex financial instruments. Common methods include:
Convertible Notes: Debt that can convert into equity at a later date.
SAFEs (Simple Agreements for Future Equity): Investment agreements that convert to equity without being classified as debt.
Perform thorough IP assessments prior to launch.
Protect core technology right from the start.
Create clear financial and operational agreements.
Consult with experienced legal counsel if engaging in fundraising or IP disputes.
Understanding legal structures, intellectual property, and financial mechanisms is crucial for the success of startups. Establish a solid foundation with legal frameworks, protect your ideas, and manage your startup’s growth with strategic insights.
In the entrepreneurial journey, several key questions must be addressed to ensure a successful venture. This document covers the essential concepts discussed in the session regarding entrepreneurship, innovation, and business planning.
As an entrepreneur, it’s crucial to answer the following questions:
How do I start and what do I do?
What problem are you solving?
How does your solution address the identified problem?
Who is your target audience, specifically who cares about your solution?
What is your revenue model?
How long will it take to bring the solution to market?
What resources and setup (legal entity, etc.) will you need?
How do you protect your intellectual property?
Do you need co-founders? If yes, what arrangements and negotiations are necessary?
How do you recognize potential obstacles?
The first concept in starting a business is developing a business plan. Writing a plan is not just about the document itself, but a process to train yourself to think critically about the business landscape.
The business model can be succinctly documented as:
Business Model = Value Proposition + Target Customer + Revenue Generation
Focus on ensuring that the solution you provide offers real value to your customers.
Understanding and protecting your intellectual property is crucial as it can be a significant asset in your business strategy. Key factors include:
Filing patents for innovative solutions.
Developing a strategy that identifies how your IP can create a competitive advantage.
Knowing competitors’ IP, such as examining provisional patents. Research prior art to potentially invalidate claims.
A common lifecycle for patents includes the following steps:
Pfile → Eevaluate → Rresearch → Cdefend
Where:
Pfile: Patent filing phase.
Eevaluate: Evaluating the potential impact of patents on your business.
Rresearch: Researching competitor patents and prior art.
Cdefend: Defending your patents against infringement.
In funding your venture, consider the following approaches:
Bootstrapping: Self-fund or use grants to avoid dilution of equity.
Angel Investors: Good for early-stage funding without stringent terms.
Venture Capital (VC): Expect larger amounts but prepare for dilution and control issues.
The negotiation of pre-money valuation and equity distribution can significantly affect your ownership:
Equity after VC = Initial Equity × (1 − Dilution Factor)
Where Dilution Factor is often around 20-50% for an early round.
To increase your chances of success, focus on understanding the market:
Identify early adopters who are willing to test your product.
Gather customer feedback continuously to refine your product offering.
Transition the narrative from being an engineer-centric product to one that answers customer needs.
Entrepreneurs often face pitfalls including:
Falling for the trap of “great idea, poor execution”.
Overlooking importance of market viability and customer engagement.
Mismanaging time and investor relationships, leading to missed opportunities.
The entrepreneurial journey is filled with challenges, but with the right planning, resilience, and willingness to learn, you can navigate this dynamic environment effectively. Engage with your peers, pay attention to your learnings, and remain open to iterating your approach.
Key books recommended for entrepreneurship include:
"Only the Paranoid Survive" by Andrew Grove.
"Crossing the Chasm" by Geoffrey A. Moore.
"The Innovator’s Dilemma" by Clayton M. Christensen.
"Five Dysfunctions of a Team" by Patrick Lencioni.