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Once you've heard the insight--that startups are different from big companies--it seems so obvious. Yet too often entrepreneurs, and those that teach them, approach the building of new companies with the same goals, staff structures and assumptions that motivate the management of large companies. Startup founders build teams to focus on engineering, and on the process of creating a product and bringing it to market.
Innovation Fund America (IFA), our program delivering high-impact education, coaching and pre-seed funding to scalable, technology-based startups via community colleges around the country, has quietly been having a big couple of months. It's a complicated and demanding program to launch and it's taken nearly a year and a half to get to this point, but we're excited that IFA is now open for business in two communities--and we're really just getting started.
A few weeks ago I wrote a blog post about President Obama's State of the Union Speech. I observed that entrepreneurial vision was lacking and I wish he had used the occasion to revive bipartisan support for an entrepreneurial agenda that could have given both parties things to support.
Chasing an entrepreneurial dream can be an all-consuming effort. Particularly in those crucial early days of a startup, founders seem to eat, sleep and breathe their businesses. This naturally occurring tunnel vision has a purpose, of course, allowing entrepreneurs to give their business babies the time and attention they need to mature. But this heads-down mode is not without its drawbacks, one of which is neglecting to stay up on current events--particularly the happenings that can impact the entrepreneurs who are inadvertently paying no attention to them.
In perusing last week's headlines (and a few stragglers from the week prior), I realized I was drawn to numerous articles pertaining to entrepreneurial support beyond that in the United States. For those who don't know, my work at Kauffman allows me to travel a bit--about 100,000 miles a year to be exact.
"No business plan survives first contact with customers," Steve Blank says. What? Isn't the point of planning that you maximize the likelihood of success in the marketplace? Well yes, but perhaps not the kind of planning you might be thinking about. A business plan conceived on paper, powered by a great idea or invention, enhanced by research on the size of the market and a customer profile, has great potential. But it also has a crucial flaw.
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