A Better Experience to Grow a Market

One of more interesting stories to emerge lately is around Uber and how it’s grown the market for taxis and black cars. In San Francisco, the entire spend on taxis and limos was $120 million per year and now people spend much more than that just on Uber in that one city, and the rest of…

Power of an Asset’s Value Compounding Annually

In yesterday’s The Upshot section of the New York Times, there was an article titled Sterling to Reap 15,900 Percent Return on Sale. From the article, “Sterling bought the Clippers for $12.5 million in June 1981, according to some reports, and he’ll get a tidy 15,900 percent return over 33 years, an annualized rate of 16.6…

Think About The Market As Much As The Product

Entrepreneurs spend a tremendous amount of time focused on specific product ideas and not enough time evaluating the overall market and trends. Most successful startups pivot at least once before finding the idea that turns out to be the one, so picking a good market increases the likelihood of developing knowledge in an area that has multiple…

Purposefully Adding Friction to a Process

Generally, I’m a big proponent of making things as frictionless and simple as possible. Whether it’s product pricing, customer onboarding, support channels, or any number of other items, less headache is better. Now, there are certain things where adding friction actually adds value, especially when done in a tasteful way. Here are a few areas to…

Ideas for Researching a Market

Earlier this week I was talking with an entrepreneur who was thinking through a new idea. In addition to customer discovery and working to assess the market need for the product, we also talked through a few different ideas for researching a market. Here are a few tactical ideas to gather information on a market:…