What would the specific solution(s) be from successful entrepreneurs?
Here is What Two Successful Entrepreneurs Who Were Partners Said:
1) Mike Pochan, Industry Consultant & Carnegie Mellon Instructor
Specific solution(s) be a successful entrepreneur: [From Mike]
- Clear your mind of preconceived notions of what you think Customers should want ( your history / experience may not matter anymore ).
- Structure a “Customer Discovery” effort and ASK customers what they want / need; talk to as many in person as is practical and carefully survey the rest (= without leading questions).
- Note that it is a repeat cycle as you learn more and modify the questions for the next group and go again.
- Once you LISTEN to the answers, you formulate a draft Solution and take it other customers to ‘validate’ it. LISTEN to them.
- if you didn’t hit the ‘target’ on the first formulation, “pivot” ( = change your Solution and thinking ) and start over with round three of Discovery.
- You don’t exit the validation phase until you have consistent answers and an accepted Solution. Then in Customer Creation the marketing of he Solution / Product begins.
- Don’t’ let ego get in the way. The old Normal is gone. There is No Normal. Yes, news providers, you need to start over.
2) Robert Culbertson, Author of “This Week In Barrons”: [Content From April 15 Issue]
On Entrepreneurship: [From Robert]
1. When you begin, you’re not that good. It’s just a fact. The breakthrough for anyone on an e-journey is adding the word ‘yet’.
2. ‘You’re not that good … yet!’ Don’t pretend to have it figured out before you actually have.
It’s a waste of time to adopt a brittle attitude in the face of criticism.
In fact, during the “You’re not that good” phase: listen to your critics because they will include an idea for your improvement.
3. Always build your skill sets, along with something of value. Some people will still believe that you’re: not that good –
and that’s your clue that they’re not your customer. You need to be able to say: NO. Go offer your product / service to someone else
who is in pain, gets what you’re doing, and needs your solution. The smallest viable audience isn’t a compromise –
it’s a path forward. Own the niche. There’s danger in hearing rejection and believing that you’ve accomplished nothing–
versus believing that you’re just talking to the wrong audience.
4. And then comes … “Yet”.You’ve listened, and embraced the truth. You’ve practiced, and found enough empathy. You understand the genre, and figured out how to contribute. Getting to the ‘Yet’ is always worth it in the end.
SOURCES: The Two Founders of LeaseTek, a Very Successful Entrepreneurial Enterprise.
Successful Carnegie Mellon entrepreneur in Artificial Intelligence (Ai), software, alternative energy, environmental and ‘bleeding’-edge technologies
Consultative Expert in understanding and applying the technology to create great business value, bringing business and IT together..
Co-founded & CEO, led & sold LeaseTek, a software company serving the Automotive Finance & Leasing industry.
Taught Entrepreneurship as adjunct faculty at Carnegie Mellon’s Tepper School of Business, Carnegie Mellon’s School of Computer Science and Executive Education programs
Respected and influential author of “This Week in Barrons” – Weekly Enewsletter of all aspects of finance, business, and cyber-technology
Founded, advised, and nurtured several successful entrepreneurial startups and going companies.
Advisor to several successful startup or entrepreneurial companies. PHD in Technology from Carnegie Mellon
Responsibilities included the Technology (including development), Customer Support and Sales.”
LeaseTek (before being sold to IDS) grew to become the largest asset based finance software company in the world.