Disciplined Entrepreneurship

24 Steps to Success! Disciplined Entrepreneurship will change the way you think about starting a company. Many believe that entrepreneurship cannot be taught, but great entrepreneurs aren t born with something special they simply make great products. This book will show you how to create a successful startup through developing an innovative product. It breaks down the necessary processes into an integrated, comprehensive, and proven 24-step framework that any industrious person can learn and apply. You will learn: Why the F word focus is crucial to a startup s success Common obstacles that entrepreneurs face and how to overcome them How to use innovation to stand out in the crowd it s not just about technology Whether you re a first-time or repeat entrepreneur, Disciplined Entrepreneurship gives you the tools you need to improve your odds of making a product people want. Author Bill Aulet is the managing director of the Martin Trust Center for MIT Entrepreneurship as well as a senior lecturer at the MIT Sloan School of Management. For more please visit disciplinedentrepreneurship.com/

24 Steps to Success!Disciplined Entrepreneurship will change the way youthink about starting a company. Many believe that entrepreneurshipcannot be taught, but great entrepreneurs aren't born withsomething special - they simply make great products. Thisbook will show you how to create a successful startup throughdeveloping an innovative product. It breaks down the necessaryprocesses into an integrated, comprehensive, and proven 24-stepframework that any industrious person can learn andapply.You will learn:* Why the "F" word - focus - is crucialto a startup's success* Common obstacles that entrepreneurs face - and how toovercome them* How to use innovation to stand out in the crowdit's not just about technologyWhether you're a first-time or repeat entrepreneurDisciplined Entrepreneurship gives you the tools you need toimprove your odds of making a product people want.Author Bill Aulet is the managing director of the Martin TrustCenter for MIT Entrepreneurship as well as a senior lecturer at theMIT Sloan School of Management.For more please visit href="disciplinedentrepreneurship.com/">disciplinedentrepreneurship.com/

Preface xiiiAcknowledgments xvIntroduction 1Six Themes of the 24 Steps 11Step 0 Getting Started 15Step 1 Market Segmentation 23Step 2 Select a Beachhead Market 41Step 3 Build an End User Profile 49Step 4 Calculate the Total Addressable Market (TAM) Size for the Beachhead Market 57Step 5 Profile the Persona for the Beachhead Market 69Step 6 Full Life Cycle Use Case 83Step 7 High-Level Product Specification 91Step 8 Quantify the Value Proposition 103Step 9 Identify Your Next 10 Customers 113Step 10 Define Your Core 121Step 11 Chart Your Competitive Position 131Step 12 Determine the Customer's Decision-Making Unit (DMU) 139Step 13 Map the Process to Acquire a Paying Customer 149Step 14 Calculate the Total Addressable Market Size for Follow-on Markets 157Step 15 Design a Business Model 163Step 16 Set Your Pricing Framework 173Step 17 Calculate the Lifetime Value (LTV) of an Acquired Customer 181Step 18 Map the Sales Process to Acquire a Customer 195Step 19 Calculate the Cost of Customer Acquisition (COCA) 203Step 20 Identify Key Assumptions 219Step 21 Test Key Assumptions 225Step 22 Define the Minimum Viable Business Product (MVBP) 235Step 23 Show That "The Dogs Will Eat the Dog Food" 245Step 24 Develop a Product Plan 253Postlude: A Business is More Than 24 Steps 261Glossary 263About the Author 265Index 267