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Category: Lean Startup Principles

What Target Canada Could Have Learned from the Lean Startup Movement

The launch of Target into Canada and the retreat two years and two billion dollars later is a great example of a large corporation not utilizing the Lean Startup methods. Key mistakes Business Model Assumptions - They assumed the Canadian business model is the same as the proven US business model. If they would have applied the scientific meth... Continue reading

Entrepreneurial Success – 3 Biggest Mistakes You Can Make

The Lean Startup and customer discovery methods are radical and different. If entrepreneurial students ‘get it’, the concepts and methods will save them tons of time and money for the rest of their life! But, sometimes a budding entrepreneur knows ‘just enough’ to be dangerous and they will end up worse off than when they started! ... Continue reading

Business Startup Advice – Consider the Source

If a small business startup wants to eventually grow up to be a big business, shouldn’t it seek the advice of big business for the secrets to success? Maybe not! A big or established business has certainty with respect to its business model and its biggest challenge is usually execution of the strategy. Too often big business assumes the sam... Continue reading

The Two Biggest Mistakes in a Business Startup

There is now sufficient research, reports and understanding of the startup ecosystem, and it’s safe to conclude a startup business is very different from a successful, established business. But since a lot of the world has not caught on to the radical differences, startups that try and act like established businesses tend to make two big mista... Continue reading

The Dangers of Passion in a Business Startup

When I had the opportunity to ask a very successful, grey haired business man what words of wisdom he would give someone just starting in business, he said, Be passionate. In fact, the quality of being passionate when you start a business is a key success factor - but in a business startup, having passion can also be very dangerous! A startup ... Continue reading

Business Strategy – Hope or Hypothesis?

Do you use the ‘hope’ strategy in your business? It goes something like this: Let’s try something new and HOPE it works! The hypothesis strategy is a more scientific approach. When performing a scientific experiment you must define your hypothesis first and then perform the experiment. The experiment is designed in a way that you can te... Continue reading

7 Secrets of Entrepreneurial Success

Rick Spence is a Toronto-based business writer, consultant and speaker. Rick was kind enough to permit me to share his 7 secrets of success with you: 1)      Don’t try it alone – Look for a partner with complementary skills to yourself. Rick gave good examples in Microsoft, RIM and Apple of very successful partnerships. 2)      ... Continue reading

The Lean Startup – Pivot or Persevere

Eric Ries author of 'The Lean Startup' provides a scientific and proven approach to creative and innovative product developments. Although the context is for a startup business, it is just as relevant for an established business that wants to innovate. In fact he gives some good examples of large corporations using his methods to develop new... Continue reading

Start a Small Business

Just Get on the Bike! I often have the pleasure of being a sounding board for people who are thinking about starting a business. They have an idea and they are kind of confident it will work. They have researched it on the Internet. They have figured out a catchy name for it... Aspiring small business owners tend to perform the things that ar... Continue reading