The question posed near time 47:05, "how big a market should a new startup company go after?" I was surprised at the answers, owing to my expectations of the admissions criteria at Harvard. I've done this in tech startups. Always start small: 1) your product/service/Value prop will NOT be correct initially, and a tiny initial market helps you figure it out (think of 'stealth mode' startups for e.g.) 2) the practical part: you lack the resources to successfully serve a large market, EVEN IF your Value Prop is nailed IT SEEMS RATIONAL for a founder to say "We cannot limit the size of the market we're targeting! WE NEED MONEY! SELL TO EVERYBODY, ANYONE WHO WILL BUY!" That seems rational but it will ALMOST NEVER WORK. Do not "pre-ruin" your brand by going after a huge audience you lack the resources to make happy. Pick a small audience. Perfect your product, service, Value proposition. Make it IRRESISTIBLE. THEN broaden your market. You'll have a polished offering/value prop, and you'll have some $$ to service a larger audience. 'Stealth mode' startups are a "thing" for a reason. .
@TheBuccaneerEngineer2 ай бұрын
Thank you for the well presented lecture. I enjoyed it, particularly those interview questions about control quality and values.
@organizer142 ай бұрын
Excellent education! Many thanks for sharing your brilliant thoughts!
@lekhiem67602 ай бұрын
I opened my eyes after going through this video. Thanks Mr. Mskok and HIL.
@araztaheri27492 ай бұрын
One of the best webinars about startaps I ve seen during last 3 years that I started working a my startup
@samraechu2 ай бұрын
is that a pair of google glasses I spot 😂
@Motivatormusic2 ай бұрын
What do you think about how we built our @motivatormusic team?
@iqbalahmed23142 ай бұрын
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@iqbalahmed23142 ай бұрын
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@iqbalahmed23142 ай бұрын
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@iqbalahmed23142 ай бұрын
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@iqbalahmed23142 ай бұрын
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@roblake6022 ай бұрын
Thank you, Michael! Appreciate your time and effort
@roblake6022 ай бұрын
Thank you, Michael ...Your views are extremely helpful to my startup
@Greg_Chase3 ай бұрын
Facebook did not solve a 'pain point' problem. Myspace already existed. Friendster also. So the discussion at time 37:00 could be: 1) "If you KNOW your product solves a valuable problem, YOU'VE GOT SOMETHING" 2) "If your product duplicates an existing product(s), you may or may not have something" Point being, DON'T WRITE YOURSELF OFF just because the 'valuable problem' your product solves is not truly so valuable. Facebook, Friendster, Myspace were not even substitutes that were "10 times better" than an existing product. McDonalds, Burger King, Wendys. Coca Cola, Pepsi, Fanta, Red Bull. Ford, Chevrolet, Chrysler. "So is their potential in undifferentiated products that only seek to take market share, and are not demonstrably superior?" ANSWER IS YES. Hersheys, Mars M&M, Cadbury, Reeses. Kellogs, Post, General Mills. Budweiser, Pabst, Coors, Miller. Home Depot, Lowes, Ace Hardware. Nearly an endless list; don't necessarily cancel your idea just because it's not solving a valuable problem. .
@JordySuarez-fu2ho3 ай бұрын
I really loved this video!
@John-36923 ай бұрын
I'm hooked on every word. I had the pleasure of reading something similar, and I was completely hooked. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
@zwinbtwn3653 ай бұрын
Michael Scott
@John-36923 ай бұрын
I'm hooked on every word. I had the pleasure of reading something similar, and I was completely hooked. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
@IndianArmy-dn2wm3 ай бұрын
Professor I love your teaching style whenever I watch yt I only watch you
@menghsiulee22223 ай бұрын
Thanks for sharing
@suindude81493 ай бұрын
Scorecard is a high method to learn the high end delivery by human resource management.
@suindude81493 ай бұрын
Actually 3-D first of all not the intrinsic demand of the consumer.Hence,for few consumers there is no pain but in case of few consumer monotoneity may be inherent pain,for that may the consumer be away from the consumption and the production may be having less intrinsic value. Today the days multifaceted auction is going on this there is an intrinsic problem of optimization of marketing activity,thus power for monopolization found a different kind of redefined way.
@YawAgyenim3 ай бұрын
I am 15 years of age and currently searching for disciplined corporation partners in which are similar ages. I plan on formulating a multibillion dollar corporation and desire similar minded people with the same ambitions.
@YawAgyenim3 ай бұрын
I am 15 years of age and currently searching for disciplined corporation partners in which are similar ages. I plan on formulating a multibillion dollar corporation and desire similar minded people with the same ambitions.
@marvinbrando7223 ай бұрын
Incredible class
@miket95633 ай бұрын
What an organization incentivizes and what it punishes defines its culture..
@mdmanjit7513 ай бұрын
🇧🇩❤👍
@marciamarquene57534 ай бұрын
Du o que eu não tinha ninguém pra fazer a gente se fala com ele se ele estava com a transferência e o dia todo e o dia que eu estava com a
@0GRANATE04 ай бұрын
35:50 WOW 3D! "12 years later you are still seeking the market, right?" - haha lol ... now it's another 10 years later and still we are seeking the market, and facebooks metaverse is "dead".
@denxha4 ай бұрын
Hii im sakith i do mdi
@marciamarquene57534 ай бұрын
F beijo nela e melhor agora hoje e sempre felicidades e ter em mãos a noite e ter fé e fé fé fé fé fé fé em mim e ter fé em Deus e ter em mãos a noite e melhor agora hoje e