ENT 526 Lecture Notes - Lecture 3: Retail, Steve Blank, Bet Her
23 Oct 2017
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Build something one, monetize it twice (double dipping) Other things to look for in an opportunity. Arpu (average revenue per user) > coca (cost of customer acquisition. = how much it takes to win a client) Google - better results faster i. e. wikipedia - faster, cheaper 10x more information than an encyclopedia. Better than the competitor and it"s hard to copy. Margins (the cost to make something taken away but the cost of the sale) In order to be sustainable you must have price, margin and cost. Difference between an idea and an opportunity is - actionable. Durable (will last long enough to generate a roi - reward on investment) Start with yourself - then look at the market and the competition. What interests you - don"t bother pursuing something that your not passionate/obsessed about. Customer development: finding your customers in the wild and understanding how they really use your product.
