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Lean Start-up For Situations outside of Business and Technology

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I’m a big fan of the lean start-up method. I’ve used it to shape my thinking about product builds and new enterprises. I’ve also joked around about how it’s easily applicable to situations and opportunities outside of business and technology. At its core, I believe the lean start-up method is best used in limited resource environments…which is most situations.

For example, I did a lot of traveling over the last couple of weeks. If you learn one thing about me, I consistently wait until the last-minute to fully pack before any trip, but there’s a method to my madness. I pack using the MVP (Minimum Viable Pack). I ask myself a week or two before I have to go, ” If my trip was tomorrow, what are the minimum items I need to have a successful trip?”. Most of the time, I end up packing my carry on bag before I get to my clothing. During this process, I play out each day’s set of activities and mentally prioritize how central they are to the core goal of the trip. I often go through the same exercise until I’m satisfied with my bags. I rarely over pack now.

The lean start-up method is a conceptual model that can apply to most situations. Do you have any examples where you applied lean start-up outside of business or technology? Please send them my way! I’ll definitely start brainstorming some on my end.

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How to Nail your First Round of Fundraising

Most people think the first round of fundraising happens with investors….and that’s flat-out WRONG.

As a founder, your first true round of fundraising is building a team. THINK about it.

You have to persuade three to four people to buy into your idea, forgo a salary (most of the time) , and bet on building a great company. You have NO business going out to look for funding if you can’t persuade a team of people to turn your idea into reality.

Nail your team-raise and you’ll have great practice in pitching, showing value and negotiation….some skills needed to be an effective founder…oh… and fund raise.

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#MondayRant Why I won't buy Wearables in the near future

Most of my friends pre-ordered the Apple Watch and are super excited to start using a watch to read their texts and tell time. I’m not all that excited about the Apple Watch and other wearables out on the market because they miss the larger need and opportunity in the market.

The power of wearables and other internet of thing products is the ability to communicate with other products. It’s not about the device itself, but creating a network of products that add value to a users experience.

Take the Apple Watch for example. I know it can do a lot of other things but maybe instead of telling time on my watch… I want a wearable that can push information to a wall, mirror or my car. I’m not concerned about the wearable itself as much as I am concerned with the wearables ability to communicate with the world around me. The Apples and the Googles of the world should focus on building an ecosystem of products that will communicate with each other than competing on specific products….or maybe even compete on platform.

We’ll see what the future holds but I’m not going to be an early adopter until I see utility.