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  1. Jan 2020
    1. thEFiRSt hUnDREDYEARSof management educa-tion focused on building strategies and tools that formalized execution and efficiency for existing businesses. Now, we have the first set of tools for searching for new business models as we launch start-up ventures. It also happens to have arrived just in time to help existing companies deal with the forces of continual disruption. In the 21st centurythose forces will make people in every kind of orga-nization—start-ups, small businesses, corporations, and government—feel the pressure of rapid change. The lean start-up approach will help them meet it head-on, innovate rapidly, and transform business as we know it.

      This is exciting for for companies entering the market, this "new" approach to building a business model is more accessible and evens the playing field. To me disrupting the market is a good thing but how long will it last? And will it just become a part of how we think about business now.

    2. So instead of writing an intricate business plan, founders summarize their hypotheses in a framework called a business model canvas

      Basically these tips work if you have the start-up money and support already in the bag. 77% of founders are white and more likely to be male. So if you are a white guy yes it is true that you don't have to as much on the business planing side of things. But if you're not a white male you have to show you did your research, 5 year projections and then run through your bussiness model canvas to sketch and test your hypotheses. Over the TC start-up week last year I saw a 20 year old white guy raise $60,000 in two days at pitch events all based off his "great idea" with not a lot of research to back his hypothesis. He just had a good idea and sometimes that all it takes but also wining these competitions are based of if someone thinks you can be successful at it.

      When someone from the audience asked "If I gave you $30,000 today what areas of your company would you invest in and what restults would you hope for?" He answered "Umm I don't know, I guess I would buy more Google ads." And he won the the $30,000 that day. This framework works no doubt but there are different expections for minortity founders.

    3. “minimum viable product” and “pivoting”—have quickly taken root in the start-up world, and busi-ness schools have already begun adapting their cur-ricula to teach them. The lean start-up movement hasn’t gone totally mainstream, h

      This makes me laugh because I've seen so many workshops pop up titled "So your company needs to pivot" or "All the things you need to learn about pivoting". It is very common now in the start-up world to use this language and think about your work in this way no matter what the industry is. And it's not like there are rooms of programmers sitting there waiting for the customer to tell them what problem to solve. Most entreprnuers have an idea of what problem exisits with the skills to execute a solution. Testing the market early is less risky for entrepreneurs and large companies, and overall better for business.

    1. Lead-nurturing workflows: Generating leads, and converting those leads into customers, can be a long process. You can automate that process by sending leads specific emails and content once they fit certain criteria, such as when they download and open an ebook.

      Our little chutney company would benefit from a boost in infastructure and strategy to support lead-nuturing workflows. Right now we can handle social media posts and get good results but it's not enough traction for conversions. With

    2. With digital marketing, you can see the exact number of people who have viewed your website's homepage in real time by using digital analytics software, available in marketing platforms like HubSpot.

      We use something similiar for our business website to track the number of people visiting our site and where they came from which is the most important peice of information for us as a new food brand. We have access to all this data but don't have strategies or practices in place to utilize this to the best of our ability. I'm looking forward to this course to learn about new practices and strategies.

    3. Reporter outreach via social media: Talking to journalists on Twitter, for example, is a great way to develop a relationship with the press that produces earned media opportunities for your company.

      For our food business this strategy is important not only with reporters and press but indepent social media influencers with food. The trend in food is to follow other foodies for new places to eat with mouth watering photos and descriptions of menu items.